Saturday, February 24, 2007

Shop around for the Right Credit Card

Many young people come out into society from universities and colleges every year. After awhile they soon realise the need for a credit card to elevate their status. How would they know which credit card to pick? Mostly, they would jump at any credit card offer that comes along but the more discerning would shop around before they commit.

There are different types of credit cards that cater to different needs. What do you look for in a card? If you need some emergency cash for a short term, the 0% Purchase Credit Card would be perfect. Instead of taking out a high interest loan, use the credit card and for the first 6 months take advantage of the 0% interest rate offer. Used correctly, this type of credit card can save you interest.

Another card that can save one money on interest is to sign up for a 0% balance transfer credit card. Transfer the balance from the existing card into the new credit card that offers 0% interest on the balance transferred. This will save one on interest.

Shop around for the best card that suits your needs whether it's balance transfers, cash back, 0% on purchases, cards with rewards, travel reward cards or low APR cards.

3 comments:

  1. As far as I understand, you tell about credit cards for ambitious young people. When they aim to elevate their status, they want to be up to buying major purchases such as a bike, a car, or even a house. Apparently, average young people can't afford to buy such things by cash. So, they need a low interest credit card firstly to save money as much as possible.

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  2. When you come up to the choice of credit cards it happens to be not that easy. It depends on many things and what is important is not to be in a hurry.

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  3. Karen, you are right. The choice of the right credit card is an important decision. And it depends on people's lifestyle and their preferences. For example, my friend Jane has chosen a 0% balance transfer credit card and she is quite satisfied with it:)

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