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How To Pick The Right Credit Cards |
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| airline credit cards - rewards cards - cash back credit
cards - low interest credit cards |
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Pick a Card... Any
Card... Wrong! |
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| Find Credit Cards that Fits Your Individual
Needs |
There are many
factors to take into consideration when choosing
new credit cards. They offer a wide variety of benefits
and features and are geared towards many deferent
uses. Depending on how you intend to use your new
credit cards will determine the one that will best
fit your needs. Would low
APR credit cards, cash
back credit cards or frequent
flyer miles credit cards be best suited to your
lifestyle? Will you be needing business
credit cards or are you in college looking for student
credit cards? Will you carry a balance on your
new card or pay it off each month? These are all
things you need to consider when selecting new credit
cards. Below are brief explanations of each type
of credit card to help in your selection. There
are several cards out there, make sure the cards
you choose will benefit you. |
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| Credit
Cards with a Low intro APR |
| An intro APR is a temporary APR that will
usually go to a higher rate once the intro period expires
(usually 3-12 months). Many people opt for these cards
to make large purchases, which they can then pay off in
a few months. Some credit cards offer a low intro APR
for purchases only, whereas others offer a low intro rate
on balance transfers. Yet others offer a low intro APR
on both new purchases and balance transfers. Look them
over carefully and pick the ones that best fits your needs. |
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| Low
Interest Credit Cards |
| These credit cards usually have a low,
fixed interest rate which will stay low as long as you
keep your card in good standing (pay on time). These credit
cards are great if you carry a balance on your card. If
you have a habit of paying your balance in full each month,
you may benefit more from Cash
Back Credit Cards or perhaps a Frequent
Flyer Credit Card. |
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| Balance
Transfer Credit Cards |
| If you have a balance on a credit card
that has a high interest rate, and you can qualify for
a balance transfer card, this might be the ticket. If
the balance on your old credit card is fairly high, and
the new balance transfer's interest rate is considerably
lower, you could save quite a bit of money. |
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| Fixed
Rate Credit Cards |
| Fixed rate credit cards offer a fixed
interest rate that will usually last as long as you keep
the card in good standing. You might consider one of these
if you have balance on a credit card that has a higher
interest rate that you can transfer over. Make sure they
allow balance transfers with little or no fee. |
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| Cash
Back Credit Cards |
| Cash
Back Credit Cards give cash rewards to cardholders
as an incentive for making purchases with the card. It's
a small percentage so you won't get rich, but it is nice
getting a check in the mail every now and then. |
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| Frequent
Flyer Miles Credit Cards |
| Frequent
Flyer Miles cards reward cardholders in the form of
airline miles for making purchases with the card. Points,
which can be redeemed for free airline tickets, accumulate
based on the dollar amount used on the card. |
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| Rewards
Credit Cards |
| Rewards
Credit Cards give various rewards to cardholders based
on how much they use their credit card. |
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| Student
Credit Cards |
| For the most part, students have little
or no credit history and it can be quite difficult for
them to get approved for a credit card. Some banks offer Student
Credit Cards which, in most cases, are easier to qualify
for and designed to help the student establish good credit. |
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| Credit
Cards for people with Bad Credit |
| Some credit cards are specifically geared
towards individuals who, for some reason or another, have
let their good credit slip away. These credit cards will
usually have a higher interest rate and a lower credit
limit, but they are an excellent way to reestablish damaged
credit. You might also want to take a look at the Secured Cards to help reestablish credit. |
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| Prepaid
- Secured Credit Cards |
| Prepaid
Credit Cards are exactly like a checking account's
ATM debit card. They have a limit that is equal to the
amount you deposit. They are an excellent way to manage
your money and avoid debt. Some even offer cash back incentives.
If you are interested in managing your money, staying
out of debt and making a little extra cash, you might
want to check these out. |
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| Online
Shopping Cards |
| Online
Shopping Cards, or membership cards, are another great
way to reestablish bad credit. There are usually no credit
checks, job verification or good credit requirements.
They offer generous unsecured credit lines which you can
use to purchase name brand products from their online
catalogs. |
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| My advise is... |
Once you have determined
which type of credit cards that will best fit your needs,
look them over and pick out a couple you think will work.
Remember, offers and promotions can change without notice,
so be sure and check them out carefully before applying.
If you are satisfied with your selection... charge in! |
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| * These online applications are subject
to the terms and conditions as described in the Important
Information Section of the individual applications. |
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