When you think about getting a credit card, it is tempting to think that they are all alike. After all, can't you, for the most part, just use them anywhere? And don't they all use the same basic idea? So why should you carefully compare and try to pick one? Well, there are a lot of factors to consider.
1. How much credit do you want?
One of the real dangers in getting a credit card is spending a lot of money without being aware that you are doing it. On the other hand, you don't want to have too low of a limit and not be able to use it at times, even though you can easily afford it.
2. What is the interest rate?
Different cards carry different interest rates. The interest rate isn't much of a concern if you plan on paying off the card each month, but if you have balances that carry over from month to month, a high interest rate can add up fast.
3. What other fees are there?
Many cards carry a monthly fee, or fees for using your card to withdraw cash. Other cards can allow you to transfer your balance from a previous card---but also with a fee. Finding out which cards carry which fees can save you a lot of money.
4. What other features does it have?
Some cards have extra security---others give you free rewards like frequent flyer miles. Look for cards that suit you!
It may seem like all credit cards are the same, but there are real advantages to shopping around.
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