Gone are the days when credit card options were restricted to two or three flags. Today, the products are vast and made available by various institutions, such as banks and financial institutions, in partnership with retail store chains, frequent flyer programs, and even supermarkets.
The sheer number of offers, however, can make it difficult to decide which credit card is best for you.
So as not to make mistakes, It is necessary to analyze items such as interest rate charged, annuity, limit, relationship with the bank and benefits that are offered.
The interest rate charged It is an important factor when choosing the best credit card, mainly because, although it is always recommended to pay the invoice in full, need to consider the possibility of partial payment in case something unforeseen happens.
What do you should observe at this point the CET (Total Effective Cost), what The cost of taking out this credit and involves interest, taxes and any other cost for the consumer? The rate annual and your information mandatory. Remember that the lower the fee, the less you pay if you delay payment.
The annuity another relevant point in your search for the best credit card. Many products do not charge anything at the time of contracting, but you need to be careful because the value of this fee may be higher than the financial budget from the second year using the product allows. The Protest simulator can be useful for analyzing products that offer the best rates and lowest annuities.
Limit your needs
When deciding which one the best credit card many people fall into the trap of sticking only to the limit offered. Of course, having a purchase limit that is sufficient for the consumption profile It is important, however, to choose a product that offers a limit far above your financial reality can prove to be something very dangerous.
Most uncontrolled are encouraged by credit and spend without thinking about tomorrow. When the invoice arrives, they realize that they have no money to pay the full amount. Not so much at sea, not so much land: the best credit card one who has a sufficient limit to what you need and at the same time a value that you can afford.
Relationship with the bank
Having a relationship with the bank often facilitates the acquisition of the credit card. Besides, It is common for financial institutions to offer different types of benefits for those old customers, like free annuity, participation in frequent flyer programs, etc.
When choosing the best credit card for you it may be interesting to look for your bank first. So be sure to check your bank’s credit card simulators.
Advantage club, mileage system, scoring system, travel assistance. The benefits offered are also essential when choosing the best credit card. Take into account your lifestyle to choose the product you go to offer more advantages for you. Who likes to travel, can choose a card that converts the amount spent in miles, for example.
Even after finding the best credit card for you, some precautions in the use of the product are fundamental: avoid making only the minimum payment, because even finding an option with more competitive rates card interest remains the most expensive on the market. The card is not wage extension: use it with awareness and enjoy it!