wtorek, 2 października 2012

What we should know about good credit cards

The latest buzz travelling all over the world has made credit cards, the ultimate financial bane which should be avoided at all costs. People are unable to keep track of their expenses once they start making use of their credit card for purchases and they find that they are unable to pay the bill which comes to their doorstep at the end of the month. People are advising each other to avoid the purchase or the use of credit cards in order to prevent a huge financial crisis from taking place. 

But they do not realize that there are many good credit cards available in the market which will not give rise to a financial crisis and which will also prove to be extremely useful in certain circumstances. Credit cards issued by Citibank as well as Chase Manhattan bank can be classified under the category of good credit cards

Most of the good credit cards available in the market will not be charging a very high rate of interest. They will not provide a very large credit limit which will reduce the probability of raising a very large bill on the card. A lot of students can make use of these credit cards especially in the event of an emergency. The low rate of interest charged on these cards will make them easily affordable for students and people belonging to a lower income level. Extra benefits like rewards can also be obtained with the help of these credit cards.

The process of finding these useful credit cards is not easy and very few companies usually offer these kinds of credit cards for their customers. A lot of people conduct regular purchases and transactions through the medium of their credit cards since it provides them with the convenience of not carrying large amounts of cash wherever they go. Transactions involving large amounts of money can be conducted easily with the help of these credit cards. This is why you should check your credit score often. You can check your credit score for free at this site.

A lot of effort will be required in order to find the right kind of credit cards which will not make the customer accrue a large amount of debt and also prove to be useful in the required circumstances. The credit card should be selected according to the spending pattern of each person. There are three main criteria which need to be kept in mind while searching for credit cards. 

The rate of interest charged by the credit card company is one of the most important factors which need to be considered when selecting a credit card. There are many companies which charge0% interest in the first year after the credit card has been issued. But they might start charging extremely high rates of interest from the second year. 

Certain credit companies will also take an annual fee or an introductory fee from their credit card customers. Usually people prefer not to purchase credit cards where an annual fee needs to be paid. The reputation of the credit card company should also be considered carefully before making a choice regarding the credit card.