Finding the best credit card can be tricky. People are often led to believe that the credit card they want is indeed the one they need, but that’s rarely ever the case.
It’s easy to get suckered into applying for a credit card with great benefits upfront, but the long-term benefits may not make sense for you. The advantages to having the right credit card are seemingly endless, but it requires that you be honest with yourself about your spending habits and your lifestyle.
There are several factors that should be considered when deciding on the right credit card, including your level of income, your spending dispositions, and your credit worthiness. For example, if you have a tendency to carry a balance from month to month, then you should probably be looking for a balance transfer card rather than any sort of rewards card, in order to pay off your debt as easily as possible.
On the other hand, if you travel frequently or spend a lot of money on gas, then it would make more sense for you to get a card that lets you earn travel points or rewards you for every gas station purchase you make. Cash back cards are the most straightforward cards out there, and are well suited to students and individuals who lead a frugal lifestyle.
Take our short quiz below to find out which type of credit card you should be carrying: