Factors to take into consideration while applying for credit cards

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Factors to take into consideration while applying for credit cards

Factors to take into consideration while applying for credit cards

By
Add to Favorites:

Credit accounts are being thrown away by banks these days. They are being given to all and sundry with scant disregard to check for their ability to pay back. With the advent of telemarketing, everyone with a phone can now get a credit card. But do not fall for the fast talking sales man on the other end of the line. Always do some research and spend some quality time to find out what you exactly need and what you can get from the market.

The following are some of the things that can help you make a better decision while looking for credit cards.

  • Always shop around for a good credit account before settling for one. Look in the internet as there are a number of third party websites which offer a comparative look at all the different credit accounts from different banks on the same website. This can save you a lot of time. But always double check to see whether the offer exists on the banks original website.
  • Do not fall for reward blindly without looking at other features in the credit card. A lot of companies offer spectacular rewards for just opening an account. But do be aware that most of these will have some clause. For example, if you get a free vacation package for two in Bali, you will later realize that either its monsoon there or that you will need to buy plane tickets back home from there.
  • Look for low interest rate credit cards. If you are going to be making a lot of purchases and are not going to be able to pay back the full amount over the next year or so, go for low interest cards. These cards will ensure that you do not go bankrupt paying interest on borrowed money.
  • Look for higher credit limits. If you intend to buy large gadgets or consumer electronics like television or refrigerators, you need a higher credit limit. Or if you need the cash urgently to pay off a course fee or some debt, you need a higher credit limit. But do be aware of the fact that you need to pay it back somewhere down the line.
  • Look for points based reward system. This is the simplest reward system which is the most well paying with the least number of hassles.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Dashlane: Password Management and Shopping Ease in One Simple Product

Dashlane: Password Management and Shopping Ease in One Simple Product

By Angela Rose, Posted: May 3, 2017

Are you terrible at remembering passwords? Are you so terrible, in fact, that you often use the same one for multiple websites? If so, you’re not alone. Continue reading
SoFi Making Lending Social

SoFi Making Lending Social

By Dar Dowling, Posted: April 26, 2017

Since 2011 SoFi, a San Francisco based online lending company, took the lending industry by storm, when they became the first online lender giving people access to affordable student loan refinancing. Continue reading
Affirm: A ‘Friendly’ Credit Alternative

Affirm: A ‘Friendly’ Credit Alternative

By Angela Rose, Posted: April 5, 2017

In 1789, Benjamin Franklin wrote, "In this world nothing can be said to be certain, except death and taxes." His statement holds true even today - especially when it comes to personal finance tools such as credit cards. Continue reading