Which Credit Card or Credit Cards is best suited for you?
With so many credit cards out there, which one is best suited for you?
Why not get them all? Why get any at all?
Should you get all the credit cards possible?
At least all
the ones with no annual fees. You can easily apply online for the
credit cards.
The simple answer is that your credit score [also referred
to as your FICO score] could suffer if you try to get too many credit
cards. Too many open lines of credit will affect any loan or mortgage
application. It is important to
manage your credit responsibly especially if you plan to buy a house.
However, if you are going to
apply and compare among various credit cards, do it all within a short
period of time; multiple requests for your credit report ('inquires')
that appear on your report within a short period of time will usually
only count as one inquire (more inquires equate to higher risk). The FICO score is very much biased toward the last 12 month of your
credit history unless you've had a something major like bankruptcy. So do
all your application within a short period of time and your credit score
will not lower too much.
My FICO (Fair Issac & Company) score
Your FICO score is used as an indicator of your financial
responsibility, it is used by many lenders to measure your credit
worthiness or risk. This score is vital when you are looking to obtain
any type of credit: getting a mortgage to buy a house, getting an auto
loan, even the interest rate for your credit card. So it is safe to say
that you want to keep this score as high as possible.
Informative articles on how you can help to build or reestablish
credit
Building credit history with Student Credit Cards
The FICO score measures your credit history so having a history of
good credit is essential for a good score. Thus having a credit
card as early as possible to build your credit history is very
important. One can get a credit card as early as 18, and it is actually
recommended that you get one as soon as you are 18. Of course in
the beginning you won't be able to get any credit card you want. This is
where Student Credit Cards comes into play,
they are designed for
people who have no credit history. These credit cards will help you
build a history so that in time you will be able to apply and get the
credit card that is best suit for you.
Balance Transfer and 0% APR Credit Cards
It's never good for your credit to pay off one credit card with
another. However it would be easier on you to have only one credit card
with a large balance than a bunch of credit cards with smaller balance.
Many credit cards are now offering 0% APR for balance transfers and it
would be to your benefit to take advantage of these offers to either
combine all your credit card bills into one, or just transfer from a
higher interest rate.
Our listings of
0% APR
Credit Cards.
Complete credit card application listings
There's also other credit cards that might meet your needs better, you can
look though them and decide for yourself though the different categories. You can also look through the complete listings of all the
credit cards we offer.
Low Interest Credit Cards
Low interest credit cards are great if you ever have to carry a
balance. You will at least know that you won't be charge too much
interest. Our complete list of
low interest rate credit cards.
The lowest interest credit card we have seen is the
Pulaski Bank
Credit Card. The card have a very low FIXED interest rate and it's lower than most of the loans we have seen.
The only perceivable down side of this credit card is
the annual fee. However if you do carry a balance on your credit cards,
the money you save from the low interest rate will be much greater than
any annual rate.
Credit Card Application Reviews
Take a look at the
credit card
reviews we have done.
