Comparisons of credit card companies are easy to find since the advent of the Internet. In fact, there are wide varieties of websites that claim to offer credit card company comparisons. In addition, outside sources of actual information on each company is very valuable.
If you are looking for a new credit card, let credit card chaser help you find the right one to meet your needs!
Once you have narrowed down your choice with the use of the credit card chaser, you need to take the time to check out the credit card company itself. The Better Business Bureau and Consumer Watchdog are both excellent resources to help you find out if the company you are considering using is good or not.
One of the best comparisons of credit card companies has been compiled by J.D. Power and Associates. Credit cards from a variety of issuers are rated on criteria, which includes customer’s overall satisfaction, customer service performance with answering questions and resolving problems in addition to the different types of benefits that come with the cards.
The top card was found to be American Express. Because these ratings are actually compiled based on the findings of real cardholders, the data is very representative of the experience you can expect to have with a company.
How do credit card companies differ?
There are varieties of things that can make a credit card company differ from others in the industry. Some of those factors are things that the company sets itself. The terms and conditions that are applied by a credit card issuer can vary significantly from one company to another. The rewards and benefits that are offered to customers for their use and loyalty to the card also differ from company to company.
Other things that are not preset by an organization can create a difference between credit card companies. The overall satisfaction that consumers have with a credit card issuer is largely based on its interaction with employees there. How they are treated when they have problems, questions, and billing or payment concerns is huge in terms of how credit cards are rated. Regardless of what a credit card issuer promises, dealing with a cantankerous team of employees is often not worth the rewards and benefits promised.
Credit card companies also differ significantly in their guidelines for issuing credit cards. Certain companies have very tight guidelines and will only offer cards to those with very good credit scores. Others specialize in credit cards for people with bad credit. Yet still others are somewhere in between. There really is a credit card issuer for everyone.
What types of credit card companies should I avoid?
While everyone has different needs in credit cards and different credit scores that contribute to the cards they can actually get, there are certain credit cards that you should avoid. If a company has a very negative rating on the customer service factors, you may want to avoid that company.
Fees and APR can also affect whether or not a company should be avoided. If a company charges excessively high fees and/or APR, avoid it, unless it is the only card you are eligible for or you are confident that you will never incur any of those fees or APR charges.
How do you choose the right credit card company for you?
While everyone wants to carry the credit card with the best ratings, in reality not everyone will be pleased with the terms and conditions of that card, and not everyone will be eligible for the card. Therefore, it is important for you to do some self-examination prior to choosing your next credit card.
Know your own credit card habits before you choose your next credit card. Ask yourself questions such as:
- Will I pay off my credit card every month?
- Am I disciplined enough to not overextend myself?
- Will I use the card enough to collect rewards?
- What types of rewards will I actually use?
- Do I need a balance transfer credit card?
- Do I need a bad credit credit card?
- Would a low interest credit card be a good choice because I tend to carry a balance?
When you have determined the type of cards that might best suit your needs, use the credit card finder above and do a side-by-side comparison of online credit cards.