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Credit cards have been around for a really long time now and if anything they have only increased in importance as more and more people opt for one and it is as important as having a social security number. Earlier credit cards had some standard features and were pretty simple to opt for. Now with so many different types of cards, it can be a cumbersome process deciding what you want as opposed to what you need. The next thing is of course how eligible you are! Your credit score decide what sort of interest rates you will have to pay and how much of a credit limit you get.

If you are a beginner with credit cards, it will be wise to go by the APR and annual fees rather than rewards programs, once you have a good credit score and rating you can switch to a better card with more features that is better suited to your needs.

Today's markets typically offers standard cards with balance transfer offers, they allow you to transfer the amount from a card at a higher interest to a card that is at a lower interest rate. Be sure to check the promotional offer, if you are paying a high balance transfer fee all for just a couple of months it really is not worth it. You could on the other hand look for a card with a 0 balance transfer and no interest for a year at least. But then your purchases on the card would have a whole different interest a rate, the idea is to close the balance on the card than to use it to buy more stuff.

When opting for a card with a low interest rate, check out your options, see what is available, is the low APR only for a limited period, in that case you may find that after a few months interest rates soar, ideally a card with no interest is good for bulk purchases of a heavy nature, that way you can work things out with ease and not have to worry about monthly payments being exorbitant. Read the terms and conditions carefully and clarify matters so you do not end up with some fees or the other resulting in a large outstanding balance.

Reward credit cards come in different types; they allow shoppers to have various incentives when they spend a certain amount. You can go for a cash back card which gives you say a 1-5% cash back on purchases, these types of cards will however have a higher interest rate and if you can afford to close the balance every month this card will be useful to you. If you have a higher usage then the cash back will also be higher but since this is going to cost the companies giving you the offer, chances are they may be additional fees of some kind. Remember in the world of credit cards, there is no such thing as free money!