Choosing a Credit Card

The following tips are to help you evaluate and compare credit cards so you can make an educated decision on your new credit card.

1. Compare credit card interest rates. Whilst you obviously should look for a card with a low interest rate, remember the rate is not fixed and can vary quarterly (or in some instances, by written notice) by your card provider. Why not try your luck negotiating with your credit card company?!
2. Consider all the charges for the card. There may be additional fees, such as fines for making a payment late (even if you post it on time, but it arrives late). There may also be transaction fees for each time you use your credit card.
3. Consider what credit limit would be suitable for you - there's no need to have a credit limit way over what you can afford as it is just putting temptation in your path!
4. Make sure that the card type you choose (eg. visa, maestro, mastercard etc) is widely accepted.
5. Compare other bonuses and services that come with the card package, such as cash back deals and travel insurance.
6. Check to see if there is an annual fee on the card. If there is, ensure it is low. If you pay off your balance each month, or intend to, try to find a card with no annual fee in this instance, as then the card will cost you next to nothing, if anything at all!