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When getting your first credit card, consider factors such as the card’s annual fees, interest rates, rewards or benefits, and credit limit. Choose a card that aligns with your financial goals and spending habits, and make sure to understand the terms and conditions, including the consequences of late payments or carrying a balance. Additionally, aim to use the card responsibly to build positive credit history while avoiding overspending and accumulating debt.

With so many credit cards on the market, getting your first card can be overwhelming. What type of card do you need? How often should you use the card? Is it possible to have a credit card without racking up large amounts of debt you can’t repay?

Keep reading for answers to these frequently asked questions about getting and using a credit card for the first time.

What Is a Credit Card?

A credit card is a type of revolving account that allows you to spend up to a preset limit. Every month, the issuer calculates your minimum payment due based on your recent activity.

One of the main differences between a credit card and a loan is that loans have a fixed number of payments. With a credit card, you can keep making purchases until you reach your preset spending limit, and each time you make a payment, it frees up some of your available credit. This allows you to keep using the line of credit over to purchase goods and services over and over.

Types of Credit Cards

Before you apply for your first credit card, make sure you understand the differences between secured and unsecured credit. If you want to open a secured credit card, you’ll have to make a deposit. The issuer uses that deposit to set your credit limit. For example, if you deposit $500, you should start out with a limit of $500.

One of the biggest advantages of opening a secured credit card is that you can’t overspend. If you don’t pay back the money you borrowed, the issuer can close your account and keep the deposit.

An unsecured credit card doesn’t require a deposit, so the issuer sets your spending limit based on your income and credit history. If you don’t repay what you borrowed, the company can send your account to collections or do a charge-off, both of which would have a negative impact on your credit health.

Pros and Cons of Getting a Credit Card

Like any financial product, credit cards have several pros and cons. Review them carefully before you decide to apply for your first credit card.

Advantages of Credit Cards

The main advantage of having a credit card is that it gives you extra purchasing power. For example, if you don’t have quite enough money saved for your auto insurance premium, you can use a credit card to make your payment.

Having a credit card also helps build a strong credit profile, provided you use the card wisely. Your credit score is based on several factors, such as your payment history and the number of credit accounts you have open. When you open a credit card, you have an opportunity to demonstrate responsible financial behavior, which could improve your credit.

Credit cards also have these benefits:

  • Fraud protection. Credit cards have several features designed to guard against fraud. Additionally, it’s easier to deal with fraudulent transactions on a credit card than on a debit card. If you use a debit card, the fraudulent transaction ties up some of your money until you can convince the bank to issue a provisional credit. When you use credit cards, you’re using the bank’s money, so none of your money is ever at risk.
  • Rewards. Many companies offer credit cards that give you points, miles, cash back, and other perks. Rewards credit cards let you earn valuable benefits based on your everyday spending habits. For example, if you enjoy dining out, you may want to look for a credit card that offers extra cash back on restaurant purchases.
  • Wide acceptance. Thousands of merchants accept credit cards, so you don’t have to worry about carrying cash or coming up with another form of payment. Carrying a credit card may even help you avoid having a hold put on your funds when you rent a car or book a hotel room.

Disadvantages of Credit Cards

One of the biggest disadvantages of using a credit card is that it’s easy to overspend, especially if you have a high limit. To reap the benefits of using a credit card without the stress of worrying about your minimum payment, charge only what you can afford to pay in full each month.

Many credit cards also have high interest rates. If you don’t pay your balance in full every month, you’ll have to pay interest on all purchases, cash advances, and balance transfers. Interest charges add up quickly, making it difficult to pay off your balance.

Although credit cards can be very beneficial, you need to use them responsibly. Late payments, missed payments, and other credit mishaps can hurt your credit for many years to come.

How to Choose Your First Credit Card

Before you apply for your first credit card, take time to check your credit score and report. If you know your credit, it will be easier to find a credit card company willing to issue a card to someone with your credit profile. If you have poor credit, you may need to open a secured card or accept a credit card with a low limit before you can qualify for better cards.

When you’re ready to apply, look for a card that fits your needs. If your goal is to build credit, search for a card with automatic credit line reviews or other features designed to help users improve their financial situations. If you travel frequently, consider getting a rewards credit card to help you earn cash back or bonus points.

Now you’re ready to apply for a card. When you fill out the application, you’ll need to provide your name, contact details, and information about your financial situation. If you aren’t approved, you’ll receive a letter explaining the reason for denial.

Tips for Using Your Credit Card Wisely

To avoid the drawbacks associated with credit cards, follow these tips:

  • Make on-time payments. Payment history has a big impact on your credit health. To build a strong credit profile, pay your bill on time each month.
  • Pay more than the minimum. If you only pay the minimum amount due, it may take several years to pay your balance in full. Avoid high interest charges by paying more than the minimum due each month.
  • Don’t go over your limit. Going over your limit increases your credit utilization ratio, which is a red flag to lenders. Many companies also charge over-limit fees that make exceeding your limit expensive, so try to avoid doing this.
  • Limit your applications: Every time you apply for a credit card, the issuer checks your credit report, resulting in a hard inquiry. Lenders see many hard inquiries in a short amount of time as a sign that you may be in financial trouble, so it’s best to limit the number of inquiries on your record.

You can visit Credit.com today to get started on your credit card journey by comparing different cards, checking your credit score and credit report card, and learning more about how to manage your finances responsibly.

Source: credit.com

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A charge card is like a credit card, but instead of allowing you to carry a balance from month to month, you’re required to pay off the full balance every month. It’s a way to make purchases without using cash upfront, but you have to be careful to only spend what you can afford to pay off each month.

Many people incorrectly use the terms “charge card” and “credit card” as if they mean the same thing. While these types of cards have some similarities, they’re not the same. Charge cards are similar to credit cards because you can use them to make everyday purchases. However, rather than only paying the minimum balance each month, cardholders are expected to pay the entire balance in full.

Before you consider applying for a charge card, it’s important to understand how it works and the advantages of having this type of card. Keep reading to learn more.

What Is a Charge Card and How Does It Work?

A charge card is a type of card you can use to make both online and in-store purchases. Unlike credit cards, charge cards require cardholders to pay the entire balance at the end of their billing period.

Many charge cards come with various perks and rewards, such as reward miles or cash back. In most cases, you must have good or even excellent credit to qualify for a charge card.

Charge Cards vs. Credit Cards

While many people think credit cards and charge cards are the same thing, there are some stark differences between them.

Minimum Payment

Credit card companies require cardholders to pay at least the minimum balance each billing cycle. This could be a preset fixed amount or based on a percentage of the overall amount due. This feature allows cardholders to make purchases now and pay for them over several months. Failure to make minimum payments each month could result in late payment fees and other penalties.

Alternatively, charge cards have no minimum balance requirements. Instead, cardholders must pay their entire balance at the end of the billing cycle. Failure to make these payments could result in extra fees, or the credit card company could suspend or close the account.

Some charge cards offer alternative payment options for cardholders. For example, American Express gives cardholders the option to use its Pay Over Time feature, which allows them to pay the balance of certain purchases over a set period of time.

Spending Limits

When you apply for a credit card, you get a set spending limit you can’t exceed without facing possible penalties. Charge cards, on the other hand, have no set spending limit. Instead, approval for purchases is based on your specific income, payment history, and credit report.

APR Rates

APR rates are based on your credit history and credit score. When you have a credit card, your specific APR rate is disclosed upon approval and displayed on your monthly statements. Interest, based on your APR, is charged on any outstanding balance at the end of the cycle.

Interest rates don’t apply to charge cards. Since you’re required to pay the balance in full each month, you’ll never have an outstanding balance to generate interest. However, if you fail to pay your balance, you could face late payment fees and other penalties.

Pros and Cons of Charge Cards

Before you apply for a charge card, it’s important to understand the advantages and disadvantages that come with this type of card.

Pros

There are several benefits of getting a charge card, such as:

  • Having no spending limit can allow you to make larger purchases without worrying about going over your limit.
  • Since you must pay your balance off each month, you won’t face high APRs.
  • Many charge cards come with substantial rewards, benefits, and perks.

Cons

While the benefits are great, you also need to consider the disadvantages of getting a charge card, including:

  • Charge cards often come with hefty annual fees. Be sure to read the fine print before applying for a charge card.
  • Typically, you must have good or excellent credit to qualify for a charge card.
  • You must be able to pay the entire charge card bill each month or face late fees and other penalties.

How Do Charge Cards Impact Your Credit Score?

Another thing you need to consider when getting a charge card is how it will impact your credit score. Lenders offering charge cards typically report all payments to the three major credit bureaus: TransUnion, Experian, and Equifax. Since your payment history accounts for up to 35% of your overall FICO credit score, making on-time payments each month can significantly impact your credit.

When it comes to your credit utilization, which accounts for up to 30% of your overall FICO credit score, having a charge card won’t make a difference. Since there’s no spending limit, most credit scoring models don’t consider charge cards when calculating credit utilization.

On the one hand, a charge card doesn’t give you available credit to use toward boosting your credit utilization ratio. On the other hand, you can make large purchases on your charge card without worrying about it having a negative impact on this ratio.

When to Get a Charge Card

You might have a limited choice of charge cards. However, options are available, such as the Platinum Card® from American Express and the American Express® Gold Card. Be sure to compare your choices and always read the fine print before applying for any type of credit.

You may need to have good or even excellent credit. If your credit score isn’t strong enough right now, you can take steps to improve your credit. Once your credit score reaches the “good” range, you can try applying for a charge card.

Find out your credit score with Credit.com’s Free Credit Score feature. If you want to take look at 28 of your scores and have more tools to manage your credit, the ExtraCredit® subscription is a great option for you.

Source: credit.com

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A secured credit card is a bit different than an unsecured credit card. It’s an unsecured card that most of us think of as a traditional credit card. The difference between a secured card and an unsecured card is that a secured card requires a security deposit to get. That deposit is either a down payment on your credit line or your entire credit line.

And because building credit requires having credit to use, secured credit cards are a fabulous way to fill the gap for those that don’t have a credit history or who’ve ended up with a bad or poor credit rating. And roughly 30% of Americans have bad credit or poor credit, which is almost 70 million people

And with poor credit, you can find it difficult or even impossible to get a car loan or mortgage. It can even make getting an apartment lease tough. And it can make getting a traditional credit card tough too. And even if you can get a loan, lease or credit card, your bad credit will cost you in higher interest rates and monthly payments.

There’s no instant cure for bad credit, but you can improve your score with work and careful planning. One of the ways you can improve that score is with a secured credit card.

Are you asking: “What is a secured credit card?” Keep reading for an explanation of what one is and how it can help build or rebuild your credit score and/or credit history.

What Is a Secured Credit Card?

Some credit card issuers offer secured credit cards. These cards are an option for those with less-than-perfect credit scores or no credit history.  But, they have a catch. That catch is a required deposit.

OpenSky® Secured Visa® Credit Card

  • No credit check to apply. Zero credit risk to apply!
  • Looking to build or rebuild your credit? 2/3 of cardholders receive a 48+ point improvement after making 3 on-time payments
  • Extend your $200 credit line by getting considered for an unsecured credit line increase after 6 months, no additional deposit required!
  • Get free monthly access to your FICO score in our mobile application
  • Build your credit history across 3 major credit reporting agencies: Experian, Equifax, and Transunion
  • Add to your mobile wallet and make purchases using Apple Pay, Samsung Pay and Google Pay
  • Fund your card with a low $200 refundable security deposit to get a $200 credit line
  • Apply in less than 5 minutes with our mobile first application
  • Choose the due date that fits your schedule with flexible payment dates
  • Join over 1.2 million cardholders who’ve used OpenSky to build their credit

Need more credit?

When you apply for a secured credit card, the credit card issuer takes a refundable security deposit. That deposit gets you approved for the card and for a small credit line. The credit line is usually small like $200 or $500. But some cards offer higher credit lines—even up to $3,000.

With most secured cards, your security deposit is your credit limit. Your deposit acts as collateral against any payments you might miss and your poor or absent credit rating. Since your deposit equals your total credit limit in most cases, the issuer won’t lose money if you miss a payment.

Secured Vs. Unsecured Credit Cards

The other main form of credit card is an unsecured credit card. Credit card issuers don’t require a deposit when for traditional unsecured credit cards.

You can have a good credit score and still get turned down for an unsecured credit card based. For example, they may turn you down if your annual income isn’t high enough or if you have several other credit cards near their limit

Who Are Secured Credit Cards For?

Secured credit cards are intended for two types of cardholders:

  • Those who want and need to improve bad credit or poor credit scores
  • Those who need to start building on a limited or nonexistent credit history

Both of these types of cardholders are challenged with low credit scores.

If you fit into either of the above categories and as a result, you’re having trouble qualifying for a traditional credit card, secured credit cards could be a good solution.

Keep in mind that it’s still possible to be turned down for a secured credit card, particularly if you have a blemish like bankruptcy on your credit history.

How Secured Cards Help You Build Credit?

The major credit bureaus calculate your credit scores. They use many factors in modeling that score. While a secured card can’t fix all the issues that go into your score, like payment history, debt usage, credit history, account mix and credit inquiries, it can help you with most.

One of the big factors in your credit score is the percentage of on-time payments. The higher the percentage the better with 100% being ideal. Issuers that offer secured cards report your payments to the credit bureaus each month the same way they report unsecured credit card payments.

The best way to build your credit with a secured card is to use the card responsibly and make your monthly payments on time, every time. That way, you’ll build a positive payment history on your credit.

There are other ways to use your card to build your credit too.

The credit bureaus also look at how much of your credit you use—called debt usage. If you keep the balance on your secured card low, it helps boost your score. As a general rule, don’t use more than 30% of your credit limit if possible. Even better, use no more than 10%. Thirty percent of $500 is $150. Ten percent is $50. Following that guideline shows you can use credit wisely by not maxing out your card or cards.

Another factor credit bureaus look at is your account mix. You want a healthy mix of accounts. Long-term accounts increase your available credit limit, so they lower your debt usage. They also add to your account mix. Keeping your secured card—even if you’re not using it—is a good idea.

Note though, if you apply for too many credit cards, it can hurt your score. Each application puts a hard inquiry on your credit report. So, find one card and apply and only apply for another if you’re declined. Also, consider applying to cards that don’t check your credit history like the OpenSky® Secured Visa® Credit Card or one that prequalifies you with a credit check like the Merrick Bank Secured Credit Card.

Merrick Bank Secured Credit Card

  • Choose your own credit line based on how much money you want to put down as a security deposit.
  • Initial deposits can be from $200 to $3,000. You can increase your credit line at any time by adding additional money to your security deposit, up to $3,000.
  • After 9 months, we review your account for a credit line increase. No additional deposit required!
  • Secured Credit Cards are great for people looking to build or rebuild credit and are available to people with all kinds of credit backgrounds.
  • Unlike a debit card or a pre-paid card, it helps build your credit history. We report your payment history to all three major credit-reporting agencies.
  • Get your FICO® Credit Score for free each month.
  • Fraud coverage if your card is lost or stolen. Access your account 24 hours a day, 7 days a week. Get help staying on track with available Auto Pay and account alerts.
  • Card issued by Merrick Bank, Member FDIC.

Tips for Using a Secured Card Wisely

Getting a secured card is only the first step. You must use the card in a smart manner to get the most benefit from it.

You might find yourself tempted to put the card away and never use it. That approach provides limited value for your credit score. It just shows up on your credit report as available credit.

You want to use the credit, a little, to prove you can use it responsibly. One way you can do that is through occasional small purchases.

For example, you can buy a parent or sibling a small gift they need, such as a blender or microwave. Then you pay that off over the course of a few months or in full at the end of the month.

Pay for minor car maintenance with it, like an oil change. Most oil changes come in under $75, which makes it something you can reasonably pay off in a month or two. You also get something useful and necessary out of the deal.

Don’t use your card for impulse purchases. Your credit limit might cover the cost of a video game or new jacket you want. Give yourself a two-day cooling off period and then ask: “Is that the best use of my credit card?” In most instances, the answer is no. Those kinds of purchases eat up credit you might need for an emergency, without providing much value in return.

Is There a Downside to Secured Cards?

Secured cards can have higher interest rates—dubbed annual percentage rate or APR—than other credit lines, though APRs vary a lot from card to card. There are many secured cards that have better APRs than traditional credit cards—especially rewards credit cards that charge higher interest rates to make up for the rewards you earn.

For example, the Applied Bank® Secured Visa® Gold Preferred® Credit Card at publication time has an ongoing APR of just 9.99% Fixed and the First Progress Platinum Prestige Mastercard® Secured Credit Card an ongoing APR of 15.24% Variable APR for Purchases.

Like any credit card, secured credit cards may charge an annual fee. Fees tend to range from $29 to $50. But, like traditional credit cards, there are secured cards that have no annual fee.

If you’re dreaming of earning points or cash-back with a secured card, you’re out of luck. These cards don’t come with added perks outside of helping you build credit. But, if you use it right and do build your credit, you’ll be on your way to qualifying for a rewards credit card before you know it.

Always make sure you understand exactly what the company offers before you apply. That way you can get a card that better suits your situation.

Parting Thoughts on Secured Credit Cards

You can answer the question, what is a secured credit card, by saying it’s an opportunity to build your credit.

When you can’t get an unsecured credit card, it makes rebuilding your credit more difficult. A secured credit card lets you establish that you can use credit responsibly, make on-time payments and keep an account in good standing.

Credit.com helps consumers by providing practical information about getting and using credit. To help you track your quest for better credit, and to find out where you stand before applying for a new credit card, get your free Experian credit score, right here on Credit.com. Your score includes a free credit report card that helps you track where you stand on payment history, debt usage, credit history, account mix and credit inquiries and how you can improve each area.

Source: credit.com

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Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

Snapshot: The Chase Sapphire Reserve® is best for consumers who travel frequently and want to earn bonus points on flights, hotels and car rentals. Although it has a high annual fee, it also comes with a generous welcome offer, gives you access to more than 1,300 airport lounges and includes multiple types of travel insurance.

Pros Cons
5X points on flights Steep annual fee
10X points on hotels and rental cars booked with Chase Focuses heavily on travel rewards
Includes trip cancellation and trip interruption insurance
1-to-1 point transfer to multiple hotel and airline loyalty programs

Full Review of Chase Sapphire Reserve® Card

This card is great if you want to earn bonus points based on your travel spending. As part of the Visa network, the Chase Sapphire Reserve® works at millions of merchants around the world, making it a convenient option for road warriors. Additionally, your Chase Ultimate Rewards® points are even more valuable when you use them to book travel through the Chase portal.

What You’ll Like About This Card

Annual Travel Credit

Every year, Chase gives you statement credits worth up to $300 based on your travel spending. To receive the credit, you must use your Chase Sapphire Reserve® card to make eligible travel purchases. Flights, car rentals, hotel bookings, bus fare and parking fees all count toward this requirement.

If you qualify for the full $300, you can earn back more than half the cost of the annual fee just by using your Chase Sapphire Reserve® card to pay your travel expenses. Note that the card resets every year around your anniversary date, not at the end of the calendar year.

Generous Welcome Offer

Need more credit?

Chase also offers a generous welcome bonus for new cardholders. bonus_miles_fulll

Travel Insurance Benefits

The Chase Sapphire Reserve® comes with several types of travel insurance:

  • Trip cancellation: If you have to cancel a trip for a covered reason, one of Chase’s insurance partners may reimburse you for your prepaid, nonrefundable expenses. For example, if your travel companion passes away before your departure date, you may be able to recoup the money you spent on flights and hotels.
  • Trip interruption: Sometimes, you have to end a trip earlier than expected due to an emergency. For example, if you come down with a serious illness overseas, you may have to return to the United States right away. If this happens, one of Chase’s travel insurance partners may reimburse you for your prepaid, nonrefundable expenses.
  • Baggage delays: If you’re traveling via a common carrier, such as a commercial airline or railroad, Chase may reimburse you for clothing, toiletries and other expenses associated with baggage delays. A common carrier is any company that charges members of the public for transportation services.
  • Auto rental collision damage waiver: Your Chase Sapphire Reserve® also comes with rental car coverage. To use this benefit, you must decline the collision insurance offered by the rental company. If you’re in an accident or someone steals or vandalizes your rental, one of Chase’s insurance partners may pay to replace or repair the vehicle.

Bonus Points on Travel Categories

One of the best reasons to get the Chase Sapphire Reserve® is because you get extra bonus points on several types of travel expenses. If you use Chase to book a hotel or rent a vehicle, you’ll earn 10 bonus points per dollar spent. For example, a hotel stay worth $500 gives you 5,000 bonus points.

You’ll also earn 5 points per dollar spent on airfare. If you spend $1,200 on a first-class ticket to Hawaii, for example, you’ll earn 6,000 bonus points. Chase offers 3 points per dollar spent on other travel expenses.

Bonus Points on Dining Purchases

The Chase Sapphire Reserve® is even more beneficial if you dine out frequently. When you make an eligible restaurant purchase, you’ll earn 3 points per dollar spent.

Airport Lounge Access

Chase Sapphire Reserve® members have access to more than 1,300 airport lounges around the world. You’re also allowed to bring up to two guests per visit.

Additional Value When Redeeming Through Chase Ultimate Rewards®

The value of your bonus points increases by 50% when you redeem them through Chase Ultimate Rewards®. This makes it easier to use your bonus points to cover your travel expenses.

The Drawbacks

High Annual Fee

The Chase Sapphire Reserve® comes with an expensive annual fee. Although this is a bit steep, you can easily earn back the fee if you qualify for the $300 annual travel credit and use some of your other card benefits.

Focus on Travel

The Chase Sapphire Reserve® is a great credit card if you travel frequently. It may not be the best fit for your needs if you’re a homebody who prefers to earn bonus points in other categories, as non-travel categories only earn bonus points at a rate of 1 point per dollar spent. For example, if you spend $300 on clothing, you’ll only earn 300 bonus points.

Is It Worth It?

The Chase Sapphire Reserve® is absolutely worth it if you travel or dine out often enough to earn more than the annual fee in benefits. Note that this card is reserved for consumers with scores in the good to excellent range.

Chase Sapphire Reserve® FAQ

Is the Chase Sapphire Reserve® card hard to get?

The Chase Sapphire Reserve® card is somewhat hard to get, as it’s reserved for consumers with good to excellent credit scores.

Is the Chase Sapphire Reserve® card better than the Chase Sapphire Preferred® card?

The Chase Sapphire Reserve® comes with more benefits than the Sapphire Preferred®, but it also has a much higher annual fee. If you’re looking for an inexpensive card with good benefits, you may want to consider the Chase Sapphire Preferred® card. Otherwise, the Chase Sapphire Reserve® card gives you access to better perks.

Is the Chase Sapphire Reserve® card a luxury card?

The Chase Sapphire Reserve® card is a premium credit card, but it’s not one of the cards in the Luxury Card portfolio. Luxury Card issues the Mastercard® Titanium Card™, the Mastercard® Gold Card™ and the Mastercard® Black Card™.

Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.

Source: credit.com

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Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

A credit card’s interest rate is obviously one of its most important factors. Some credit cards offer an ongoing APR that’s lower than average, while others offer a 0% interest rate for an introductory period after opening your account. 

If you’re in the market for a low APR credit card, we’ve compiled a list of some of our favorites below. All of the cards in this list at least have a 0% introductory offer and have been ordered from least to greatest ongoing APR at the time of writing.

Note: You’ll notice that most of these credit cards have a variable ongoing APR. Ultimately your interest rate will be determined by your unique credit.

Read our full review

credit score, you’ll also want to know what’s on your credit reports before you apply. When you apply for a credit card, most issuers will check your creditworthiness before approving you. This is what’s known as a hard inquiry (as opposed to a soft inquiry, when you check your own credit). Multiple hard inquiries within a short amount of time – like if you get rejected for a card and try to apply for others right away – can hurt your credit. Your best bet is to apply for a card only if you’re confident you’ll be approved. 

Heads up: the best low APR credit card offers tend to require good credit. Many of these lenders want to see a credit score of at least 650 or higher as well as an income and debt situation that ensures you can make your payments. 

  1. Research Other Rewards

APR is one thing, but you’ll also want to carefully consider the card’s other features. For example, if you travel a lot, you might be in the market for a travel rewards credit card with a 0% intro APR offer to spread out the cost of your trip over multiple interest-free payments. 

Alternatively, if you like the idea of earning cash back on daily purchases, you might be more interested in a card that offers high amounts of cash back rewards on categories such as groceries or gas.

  1. Consider Fees

If you choose a card that offers a 0% intro APR period, make sure you also consider what the ongoing APR will be once the intro offer is over. You’ll also want to carefully consider what other fees the card comes with, including any regular usage fees or penalty fees. Depending on how you use the card, you could end up paying more in fees than what you save in interest. 

If you haven’t checked your credit score in a while, or you’re wondering what may be on your credit reports, you can also take a quick look at your credit by signing up for a free account with Credit.com.

Advertiser Disclosure: Credit.com has partnered with CardRatings for our coverage of credit card products. Credit.com and CardRatings may receive a commission from card issuers.

Source: credit.com