Finding a New Credit Card

Credit cards offer amazing benefits and are now easier to get than ever. Whether you’ve got good, bad, or no credit history, there is a great card available. It just takes a little bit of research to find the perfect option today.

Why Get a Credit Card

There are a number of basic yet important reasons to consider getting a credit card in modern society. To start, credit cards undeniably offer excellent perks for shopping. Notably, they allow consumers to defer payments for a set period. If you buy an item today, you may not have to actually pay for it until 10 to 40 days later, depending on the terms of the card. As long as you pay the card balance off on time, you will incur no interest. If, for some reason you cannot pay off your balance by the deadline, you will incur an interest charge on the balance at a rate set by the credit card company. It’s best to pay your card off on time if you can, as the interest charges can be quite high and are easily avoided.

Credit cards also tend to be a preferable option to carrying cash. If you have cash and lose it or have it stolen, it’s gone and you’ve lost the money. With a credit card, you can quickly cancel it and have a new one issued. If you notice fraudulent charges on your card, it’s possible to call the card provider and get those charges cancelled.¹

Have you got no or poor credit history? Using a credit card is a perfect way to improve your credit rating. Boosting your credit will help you acquire loans at lower interest rates and credit cards at higher limits in the future. Just make sure to pay your card off on time and in full or you may end up hurting your credit history more than helping.²

In addition to these other benefits, credit cards often allow consumers to acquire rewards points on their spend. If you spend a lot of money on your card, these rewards points can be incredibly valuable. They can often be used to secure free flights for travel, hotels, gift cards, cash-back, and other exciting perks. Some credit cards also offer extended warranties, insurance, and purchase protection just for holding the card.³

Note that not all cards have rewards programs, so it’s worth shopping around to see if you can find one that does.

When Not to Get a Credit Card

If you want to get a credit card to withdrawal cash from an ATM, the fees associated with doing so often aren’t worth it. It’s usually better to buy things directly with your credit card rather than using it to withdrawal cash.⁴

It’s also important if you’re getting a new credit card to make sure you only spend what you can afford. Taking on too much debt can be dangerous, and you don’t want to have to pay heavy interest fees. Instead, avoid interest and only spend what you can pay off on-time.

If you’re planning to use your credit card abroad or in different currencies, you’ll want to specifically look for a credit card that offers no foreign transaction fees. This will avoid paying any currency conversion interest fees which can really add up.

Discover the Benefits Yourself

The best way to discover the benefits of a credit card is to perform an online search for credit card offers that are available now. Each specific credit card has its own benefits, pros, and cons, and the easiest way to find out is to start researching the options available. Thankfully, applying for a credit card in the modern age can often be done in a matter of minutes online and getting a result is now quicker than ever. With just a little bit of comparison shopping, it won’t be long before you’ve got the perfect new credit card to suit your needs.