| The best credit cards for you are those tailored to | | | | where you will save money. |
| your individual financial needs and objectives with low | | | | If you answered yes to the third question, you may be |
| interest rates and, of course, those for which you will | | | | interested in finding a 0% interest charge card, such as |
| be approved. To find out what youre looking for, | | | | American Express. These cards will not charge you |
| answer the following questions: | | | | interest as long as you pay your bill promptly and in its |
| 1. Do you anticipate any large purchases in the next | | | | entirety every month. |
| year (i.e. furniture, appliances, etc.)? | | | | If you answered that you want to hold on to your |
| 2. How long will do you anticipate keeping the principal | | | | credit card in the fourth question, you should look for a |
| of a purchase on your card? | | | | moderate credit limit and a low interest rate. If you |
| 3. Do you want to pay your entire balance every | | | | answered that you plan to use this credit card only in |
| month? | | | | the short term, then you should look for a card with an |
| 4. Are you planning to use this card for purchases | | | | introductory 0% interest rate. These are best coupled |
| over a short time period or do you intend to hold it for | | | | with a plan to pay off the balance by the end of the |
| a long time? | | | | introductory term. |
| 5. Do you currently have credit limits totaling more than | | | | If you answered yes to either part of the fifth question, |
| 40% of your annual income or balances outstanding | | | | you may have some difficulty securing new credit |
| on those cards greater than 50% of the credit limit? | | | | cards. Part of your credit score is determined by the |
| If you answered yes to the first question, you will need | | | | amount of credit you carry and the ratio of the |
| a card with a high credit limit and a low interest rate. | | | | balance outstanding to the credit limit. Some banks are |
| This may seem obvious but not all people need these | | | | unwilling to grant additional credit to those applicants |
| things. You may do best getting a card with rewards | | | | whose credit scores are low due to outstanding credit, |
| attached to something you are interested in, like an | | | | even if you have paid on time. The best credit card for |
| airline miles card. | | | | you may be a card specializing in bad credit, |
| If you answered greater than three months on the | | | | regardless of how close you are to the acceptable |
| second question, you will need a low interest rate. Do | | | | credit rating. |
| not be discouraged by a low credit limit. The interest is | | | | |