Comparing First Time Credit Cards
A credit card is plastic money in hand that gives us flexibility to buy anytime anywhere if it is accepted. It works on simple credit theory and we are given a buffer of few days to pay back the amount that is spent using credit cards.
There are many things to look before you apply for first time credit cards so that your credit card works exactly as per your expectations and knowledge. First thing to look for is annual fees. There are many credit cards these days that have no joining or annual fee. Some companies ask you to pay certain amount one time and get in return some gifts. Some charge annual fees and give you benefits like business lounge access, free club entry, more reward points on shopping, on certain petrol pumps, with certain air lines etc. It purely depends on individual requirements which one to choose. If one does not travel frequently and does not visit clubs, opting for a credit card with zero fees is the best choice. Always read the offer clearly. There shall not be any hidden cost. Credit card acceptance is also very important parameter.
Second thing to look for is credit period. Credit period is the buffer days during which you can pay back the amount spent without any interest. There are certain companies that have buffer days of even 52 days due to their statement cut-off dates. Choose the card that offers the optimum buffer period.
Third thing to look for is the interest that credit card company charges if your payment is not made by due date. Interest rate varies from company to company and choosing the lowest interest rate is always desirable.
Forth thing to look for is reward points structure. Some reward 2 points for certain amount of spending on card, some offer 4 points for same amount.
Last thing to look for is credit card limit, cash withdrawal limit and acceptance of all kinds of payment options. As per my personal experience, the best credit card is the one that is best for you. Always choose an optimum credit card that fits to be your personal best credit card. Be prepared before buying credit card first time
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