How to Choose the Best Credit Card?

Posted by Tom Wilkins on Fri 10th August 2007 at 06:00 AM, Filed in Credit Tips

There are a myriad of credit card providers out there, deciphering which ones are the best isn’t easy.

Here are some things to bear in mind:

1. Think about what rewards you might want. E.g air miles, points for prizes, etc. Shop around to see what might benefit you the most.

2. Look carefully at APR (definition here), sometimes attractive introductory rates rocket after expiry of the specified period. Take a good look at the small print.

3. Are you a frequent traveller? If so, you really want to look at using a credit card that doesn’t charge transaction fees while abroad. Nationwide are hard to beat on this front.

4. I’m a sucker for a good looking credit card. Take a look at providers that offer bespoke designs - you might just be able to create something quite eye catching.

5. Check what cover you have for fraudulent activity on your card.

6. Check whether there is a transaction fee for transferring credit card balances. It’s usual for transaction fees to be levied on 0% intro APR offers.

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