Major Credit Cards
If a million credit card offers pour into your mailbox everyday, don’t just take the most attractive offer, shop around. See what your local banks are offering in terms of interest rates and other perks. The point is, be pro-active in your search, the way you would if you were shopping for a coat or a sofa. Avoid taking the first one that catches your eye.
- Shop for a credit card and banking package together.
- Comparison shop for the best interest rates via the Internet.
- Most cards offer some form of value-added discounts, so shop for the deal that you’ll use the most.
- Premium cards–such as Gold or Platinum cards–generally offer higher credit limits and various “member” privileges, such as free traveler’s checks. Most charge an annual fee of $50 or more; so make sure the perks are worth the price.
- Be smart. If you’re carrying a balance and pay 18% interest on a rebate card that earns you a 1% cash-back bonus–you’d be so much better off with a 12% card that pays nothing back.