Top 3 tips to choose  Best Credit card Top 3 tips to choose Best Credit card

A credit card helps  to purchase  products or  do  shopping on credit .Statement will be sent by bank every month listing the transactions done.  Money can be paid     ,back  full or little  carrying next month. if there is balance , there will be interest,the money you owe on top of borrowed money. 

Pros

Cons

Purchases can be made in bulk amount  and pay back the same in small amounts

If not used wisely in spending, debt can be arise.

When used responsibly building credit is important and later on very useful

Credit score sinking if misses the payment

Most of the credit card has rewards or 1% money return back on on amount spend.

Ease of using credit cards will make you over spend

Credit card holder has safer use of card instead of using cash and checks

smaller interest will also be big over a period of time


 Top 3 Tips to choose Best Credit card


a) By Credit score and credit report

.The  primary step is to check the credit score and credit report .  To check the credit score several resources are available like Discover credit with advice to improve the credit score.To avail these services you don't need to be a customer.


Credit Score range -FICO model or Vantage Score


Very Poor - 300 to 580
Fair :  580 to  668
Good : 670 to 738
Very Good : 740 to 798
Excellent :  800 to 849

By checking these  range, we come to know which range we are in and  search cards accordingly.

One important thing to keep in mind is that credit cards should be chosen which is equal or less than your credit score.If your credit score is high ,consider cards providing fair credit requirements. On falling the credit score within good range we cannot guarantee good credit card will be approved as other factors like income ,monthly payments will  be taken into account.


2) Plan decide which card suits your needs . 

Having a good credit score , we have  three types of credit cards based on Rewards,O% APR and building credit.


3) Look for credit card offers provided for shopping 


Web story:Benefits of Credit card