There are about as many credit cards out there for consumers as there are banks and credit companies to issue them. Though getting the best credit card deals may require you to sift through volumes of credit card offers, finding the right one for you is not all that difficult if you know what to look for.
For some people with lower credit scores, an annual fee is unavoidable. Others with excellent credit ratings may find credit card deals with zero or low annual fees. Some cards, such as airline and travel rewards credit cards, charge high annual fees in exchange for the perks associated with those cards. Think about how you are going to use the card most, and what you are willing to pay for, before deciding which credit card best suits your needs.
The annual percentage rate (APR) determines how much interest you pay on your principal balance. Don't underestimate its importance. Many people with less-than-perfect credit history are stuck with cards that have higher annual percentage rates, while those consumers with excellent credit and no blemishes on their credit report can find credit cards with a low-interest APR. Be aware of low "teaser" introductory rates that swing up to a much higher rate after a certain period of time because, once you account for that fact, it might not be the best credit card offer for you.
When signing up for a credit card, consumers do not expect to make their payments late, but sometimes it happens. Late fees can be brutal on the pocketbook. The Credit Card Account, Responsibility and Disclosure (CARD) Act of 2009 was designed in part to curb excessive late fees, which now are capped unless there are several late payments in a six-month time span. Lastly, pay attention to all of the information listed in the terms and conditions, including payments for balance transfers from other cards or cash advances, to determine a credit card that may be a fit for you.
Finding a credit card deal that would fit your needs depends upon your credit history and planned use of the card. Travelers may look into rewards or frequent flyer credit cards, while business owners may research different types of business credit cards. There are many types of credit card deals, but determining the best credit card depends on how consumers use the card.