What is the right credit card for you? Image by Wimena Kane on Flickr
Introduction First thing’s first, it’s important to stress that this guide to credit cards is written by an interested web user, not a financial expert, so please don’t make any financial decisions based on the content of it. With that out the way, we hope you enjoy it!
A credit card for everyone… While there are obviously situations where it’s not advisable to make an application for a credit card (ie if you’re in a difficult financial situation), there are different credit cards that suit people in different situations. Let’s have a look at them, shall we? Image by Benson Kua on Flickr
For the student… Everyone knows that students have different spending habits and priorities than most people, mainly because they have to operate on such a strict budget. As such, many financial providers offer credit cards that are designed with students in mind. These can come with a range of benefits, including rewards functions (from discounts on shopping to freebies) as well as cash advance and balance transfer features. Image courtesy of Tulane Public Relations on Flickr
For the big spender… Whilst it’s important to hammer home the point of avoiding overspending, some people use credit cards more readily than others. If you’re in a position to, then fair enough! But you’ll want to make sure you’re using a card that gives you the best deal. One that offers a fairly long term 0% purchase period might be ideal, as would be one that gives rewards for using your card more (although always remember to live within your means).Image courtesy of Images_of_Money onFlickr
For the saver… If you don’t like overspending at the best of times, then goodness knows you won’t want to when it comes to credit card charges. As such, a simple, no frills single rate card is probably ideal. Not only will this present you with a minimum fuss credit card option, it’ll allow you to slowly and surely build up your credit profile – something that’ll prove extremely helpful as you go on.Image by o5com on Flickr
For those with an existing card… Already got a credit card, but not happy with what you’re paying? Then how about looking at balance transfer credit cards? Many of these offer users the chance to transfer their funds at a very low interest rate, sometimes with no interest rate at all.
A bit of everything? There’s a specific credit card out there to suit everyone, it’s just a case of figuring out exactly which one is for you. Even if you feel like you don’t fit any of the money personalities mentioned beforehand, do your research and see where it takes you. Taking out a credit card is an important step for anyone, and as such, you have to be certain that the card you take out is the right one for you.