Wait, There Are Different Types of Credit Cards? Choose the One For You! (By: TE)

Yes, you may need a different credit card than your best friend because everyone’s financial situation is different. When choosing the credit card for you…

1. Check your credit score because your eligibility for credit card offers depends on your score.
2. Choose which type of credit card you need. There are three types: cards that improve your credit when it is not the best, cards that save you money on interest, and cards that earn rewards.
3. Narrow your choices by asking the right questions. If you are a student, ask if your card will help you build credit, or if you plan to transfer money often, ask what the card’s transfer policy is.
4. Apply for the card that offers you the best value. Look closely at the differences between your top two or three cards. Does your credit limit automatically increase? Are there late fees? Are there expiration dates for rewards?

Hopefully after this process, you have chosen the credit card for you! This part might be over, but don’t forget to be wise with your credit card usage.

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