Choosing Credit Cards – Top 5 Mistakes We Make

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most 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 » Choosing Credit Cards – Top 5 Mistakes We Make

Choosing Credit Cards – Top 5 Mistakes We Make

The content is accurate at the time of publication and is subject to change.

You are opting for a credit card because you want a convenient lifestyle. While this is a good choice to make, you may only be inviting trouble by choosing credit cards which do not suit your need. Credit cards are supposed to work to your advantage, but it is up to you to make them do so by choosing them right.

Here are some of the common mistakes made by people while choosing credit cards:

Mistake 1: Choose Many not One

This is one of the most common mistakes made. We tend to get overboard and keep too many credit cards thinking it means more safety. The problem with such a choice is that we are tempted to spend more and invite trouble for ourselves in the near future.

Mistake 2: First Choice Right Choice

If you find it difficult to handle your enthusiasm while choosing credit cards, you are sure to succumb to the very first offer you come across. Remember that there are many companies in this business and by simply accepting the first choice without knowing about the others, you may be missing on a better deal.

Mistake 3: Giving in to Introductory Offers

Companies out there are making every effort to lure you towards them while you are choosing credit cards. One thing they will do is tempt you with irresistibly good introductory offers. You have to remind yourself time and again that they are temporary offers and look beyond them to know if the credit cards would work for your benefit even later. Remember to check their rate of interest before you accept their offer.

Mistake 4: Overlooking Facts

Credit cards market themselves very well which is why we find ourselves in trouble at a later stage! Remember to read all their terms and conditions before you sign on the dotted line. Take time to understand their hidden charges and whether or not they can be avoided. Check out on other credit cards too to make sure you are not accepting something unreasonable. Though this is a laborious procedure, it is the only assurance that you will not suffer later.

Mistake 5: Choosing a Card with no specific Reason
Choosing credit cards is a tricky job because you first have to know what you want of your card. There are different kinds of credit cards for different people like students, businessmen etc. Understand what you want before choosing credit cards blindly.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related Research:

Top 5 Secured Credit Cards: September 2020 – Experts’ Choice

Top 5 Secured Credit Cards: September 2020 – Experts’ Choice

Posted: June 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

Top 5 Soft Pull Credit Cards: September 2020 – Experts’ Choice

Top 5 Soft Pull Credit Cards: September 2020 – Experts’ Choice

Posted: June 3, 2020

When applying for a credit card, you definitely don’t want your credit score to go down. Here, you will find the best credit cards with a soft pull from our partners. An application for such cards won’t make changes to your credit history… Continue reading

Top 5 Store Credit Cards: September 2020 – Experts’ Choice

Top 5 Store Credit Cards: September 2020 – Experts’ Choice

Posted: May 30, 2020

We evaluated store credit cards offered by our partners to find the best store credit cards. They are often loaded with perks that will allow you to save on purchases at your favorite retailer. Plus, many store credit cards are available… Continue reading

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!