The best credit cards for you are those tailored to your individual financial needs and objectives with low interest rates and, of course, those for which you will be approved. To find out what youre looking for, answer the following questions:
1. Do you anticipate any large purchases in the next year (i.e. furniture, appliances, etc.)?
2. How long will do you anticipate keeping the principal of a purchase on your card?
3. Do you want to pay your entire balance every month?
4. Are you planning to use this card for purchases over a short time period or do you intend to hold it for a long time?
5. Do you currently have credit limits totaling more than 40% of your annual income or balances outstanding on those cards greater than 50% of the credit limit?
If you answered yes to the first question, you will need a card with a high credit limit and a low interest rate. This may seem obvious but not all people need these things. You may do best getting a card with rewards attached to something you are interested in, like an airline miles card.
If you answered greater than three months on the second question, you will need a low interest...