With all of the pre-approved credit card offers and solicitations coming in the mail to qualified consumers, few may actually need to go out and seek out more credit cards. The Internet is the best resource for consumers that want detailed information on the newest and highest rated credit cards. Starting with sources such as the JD Power listing of credit card ratings will help you to quickly identify the very best credit cards for consumers.
Another resource that you can use to locate the best credit cards is the FREE credit card finder!
Realize that the best credit cards are somewhat subjective and that consumers will have varying experiences. If you have a financial institution that you use for all of your primary banking needs, inquire about their credit card promotions and offers.
How do you compare the best credit cards?
Credit card recommendations can come from banks, friends, colleagues, or even complete strangers. If you are using the web as your main search tool, you might find conflicting reports on customer service, benefits, and satisfaction. There are many online tools that you can use to compare and contrast credit card benefits as well as credit card calculators.
To accurately compare the best credit cards, you will need to narrow down your list to only a few selections.
If you are a full-time college student with limited income, student credit cards may be best.
Consumers with large incomes and steady credit histories may be more interested in credit cards with low APRs.
In particular, news outlets like MSN, often release yearly reports detailing the best credit cards for specific needs. Consumers that travel often will want to keep an eye out for the best travel credit card reports and see if their current credit cards offer similar benefits.
What happens if you find a better credit card somewhere else?
Credit cards that offer consumers low balance transfer interest rates with no additional fees and free bonus miles often attract the most attention. Time sensitive credit card offers and promotional interest rates can help you to save substantial amounts of money, but you still need to take precautions. If you decide that your current credit card is no longer satisfying your needs, you will want to consider all of your options carefully.
It is never a good idea to voluntarily close a credit card account, even if it has a zero balance. This is especially true for consumers that only have one or two credit cards in total. You can try to re-negotiate your credit card terms and request a reduction in interest rates if you have been a model customer. If you believe that your credit score will not suffer because of opening a new line of credit, you can always apply for a new credit card without worrying about penalties.
What if you can’t get approved for the best credit cards?
If your credit card application is denied for your preferred credit card, you might think that you have no other options. Plenty of consumers have been able to successfully reapply for the best credit cards after working to improve their financial circumstances and credit ratings. Credit card companies always have to give a valid reason for denial to credit card applicants. This information will clearly outline what it is that you have to do to be reconsidered.
Remember that the best credit cards often come with more stringent requirements of applicants.
For instance, a fair credit score of 650 might be enough to secure a basic credit card, but some credit card issuers require scores of 720 or more at a minimum.
Any information that you can gleam from current credit cardholders will be helpful at the time that you apply.
Another common reason for denial that consumers overlook is the dreaded internal blacklist. If you have outstanding credit card bills, it might not be a good idea to apply for a new credit card from the same company. It doesn’t matter if there is a time limitation on collecting credit card debt in your state or is otherwise uncollectible because credit card issuers keep long-standing databases of all of their past and current customers.
It will probably take you a little time to comprise a list of the best credit cards before you can even decide on which ones to apply for.
Use this time to do your homework, check your finances, and confirm that there are no inaccuracies listed on your credit reports. For more great credit cards, go to the FREE credit card chaser!
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