Advice for Choosing the Right Credit Card

A credit card can be an important part of your financial picture. It can help you build a history of smart financial management as you leverage the purchasing power than comes with the ability to charge purchases. However, not all credit cards are created equal, and choosing the right one for your needs is not always easy. Your credit union can offer plenty of advice when it comes to selecting the best card for your needs. These tips will also help.

Skip the Mailbox Advertisements

There is a good chance that you are bombarded with credit card offers in your mailbox, email inbox, and even when you’re out shopping. However, choosing a card simply because you have seen it advertised many times isn’t a good strategy. Cards that promise low introductory rates, great rates on balance transfers, and more great introductory features often have a lot of fine print that makes the deals less attractive. Pay attention to all of the details, and look especially closely at what the interest rate on the card after the introductory period has expired.

Be Realistic About Your Spending Habits

How you spend can have a big impact on the kind of card that is right for you. For example, if you plan to pay off the balance of your card in full each month, you can use a different set of criteria than if you plan to carry a balance. It’s important for your credit card to help manage your finances as effectively as possible.

Know Your Credit Score Before You Apply

Knowing where you stand with your credit can help you narrow down the selection of cards you can consider. Apply for the very best one you can get with your credit, but avoid applying blindly to multiple cards. The multiple credit queries on your account can drive down your score.

The Visa Rewards credit card from GCS Credit Union was designed for the needs of our customers in mind. Talk to a representative at our credit union in O’Fallon today by calling (618) 797-7993.

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