Which credit card should I sign up for?

There are so many more options for credit cards now than there were years ago. If you are looking for a credit card, all of the offerings out there may confuse you and wondering what is the best one to choose. The answer depends on a number of factors.

One way to search for a credit card is to use an online credit card finder offered here!

Credit cards are a big financial responsibility. Some offer more benefits for you and some prevent you from abusing them and getting into debt.

What are some credit card basics that you should be aware of?

When you begin searching for a credit card, you should look at the terms first. This refers to the:

Annual fee
Annual percentage rates (APRs)
Grace period
Credit limit
Other penalty fees

These can set some credit cards apart from others in a big way.

You should look for a credit card that does not charge you an annual fee, as this is wasted money. You also want to find a card that has low APRs. Even if you plan to pay off your balance every month, which you should, there may be a time in which you need to carry a balance for a month or two. The lower the interest rate, the less extra money you will owe.

Penalty fees also vary from card to card. Some charge a certain amount if you spend more money than your credit limit, and late fees vary. Find a card that has few, if any, penalty charges.

Also, look at what the grace period is. Most credit card companies have a grace period of 25 days, which means that you have 25 days from the purchase date to pay it off before interest begins to accrue. Although most cards have some sort of grace period, some cards begin charging interest from day one. You do not want to get this credit card.

What are other things to consider when searching for a credit card?

One thing that many people look for in a credit card is whether it offers reward points. A rewards credit card may be a good idea for you if you have many big purchases. If you pay for them with your credit card, you will quickly build up points and be able to redeem them for rewards sooner.

Even rewards credit cards will vary. Some offer more points per dollar for certain purchases such as gas or groceries. Others have blackout dates for travel, while some do not. Some charge an annual fee, while some do not. Find the one that works the best for what you need.

If you like to keep your expenses organized, some credit cards will separate your purchases on your statements so you can see clearly, what you spent your money on.

What if I don’t have good credit history and can’t be approved for a credit card?

If you have a poor credit history, you may be finding that most credit card companies will not approve your application. Don’t fret, there is another way to get a credit card as well as build up your credit at the same time.

One of the best ways to get a credit card if you have poor credit is to get a secured credit card. There are a couple of ways that a secured credit card works. One is that you will deposit money into an account for that credit card which will become your credit limit. If, for example, you put $300 onto the card you can use the card anywhere credit cards are accepted and spend up to $300.

Another way that secured credit cards work is that it is connected to a savings account and the credit line equals the amount of money in the account.

The benefit of a secured credit card is that you never have to worry about spending more money than you have and there’s not a chance of getting into debt like there is with most credit cards. Some secured credit cards have a fee associated with them and others do not. Research the different types and terms to find what fits your needs the best.

Secured credit cards can help you be more responsible with your money. For other financial tips, you should check out SmartMoney.

You can begin your credit card search right now by using the credit card chaser tool on this page.