How to Choose the Right Credit Card for You – 2022 Guide
Long gone are the times when the only way of paying for something was by using cash, and since we live in the digital era now, credit cards are the new convenient solution in the world of finance. If you’ve ever used a credit card before, you’re probably aware of the fact that there are multiple types, each one of them with a different purpose. Some have no limit, others don’t allow you to withdraw more than a few hundred dollars, but all of them are useful in these modern days.
In today’s article, we’ll talk about some of the most important things that you need to consider if you want to choose a credit card for yourself. This 2022 updated guide will be useful both for those who don’t have any CC at the moment, and those who want to have multiple for different scenarios. Since there’s a lot to talk about, we’ll end this intro right here and jump straight into what’s important to know. Let’s take a look.
Choosing by the limit options
Let’s say that you’re a business owner who needs to pay many employees on a daily or weekly basis. You obviously won’t be able to do this without choosing a credit card that has a limit. However, those with absolutely no limit are usually more expensive to maintain and to obtain in the first place, and they’re meant for people who have a serious financial income.
If you are an average consumer who uses their card for the basic daily needs, maybe you should choose one that does indeed have a daily limit. This protects you from losing a lot of money in case someone with malicious intent gets their hands on yours.
Considering the looks and design
Since there are so many different brands and card-issuers these days, why not take advantage of the designs and go with the one that pleases your taste for aesthetics? If you find certain design for a CC appealing and it happens to fit your style, it can be more than enough of a good reason to choose that particular model, if all the other boxes are ticked as well. If you feel like you’re inexperienced and you don’t know how to make the right choice, creditcardkarma.com is a site where you can find a lot of useful information and insight.
Wireless payment option availability
Those who spend money on the most basic daily needs, and they do it quite often, don’t really like writing in pins every single time they’re about to make a transaction. Besides, with all the things happening in the world nowadays with the COVID-19 pandemic, it’s probably the best not to touch the buttons of the card-reading devices. Wireless CC’s allow you to do things much more easily and without too much trouble. Be careful with wireless cards however, because there are a few ways that you can make a mistake and pay for something that you don’t want to pay for. Things like these are not very common but they’ve happened in the past.
ATM availability in your local area
According to atmpartmart.com some credit cards are not accepted by certain ATM’s, and since the type of ATM’s available to us is something that’s heavily influenced by the area in which we live in, it’s probably the best to choose a certain type that’s accepted by most of them in your area. Usually, people just go to their local bank and sign up for whatever is available there. Although this is not the most optimal way of meeting all of your CC needs, it’s a good thing to do if you never want to be worried about ATM’s rejecting your cards. If you live in an area with a lot of different ATM’s and this isn’t an issue at all, then you can skip this step and choose by considering the other factors.
A prepaid card or not
You’re probably aware of this already, but it’s worth mentioning it anyway for those who are not very experienced. Some cards are pre-paid, meaning that you can load the funds on them and then go anywhere and use them for basically any purchase. However, there’s a slight disadvantage to them, which is the fact that if you end up losing a pre-paid model, you’re basically in the same situation in which you would be if you’ve lost some cash. Losing your card is something that you should be avoided at all costs anyway, but things are just a bit more painful if you lose a pre-paid model.
We feel like the pros are much better than the cons for this particular case because pre-paid is just so easy and convenient. You can use them while abroad, and to pay for almost anything. You’ll never have an issue with them, but be careful not to lose yours.
Spending bonus rewards
Last but not least, some issuers and companies allow users to earn spending rewards based on the things that they purchase with their card. Of course, you’ll have to discuss this beforehand with your issuer, and you’ll also need to get informed on what exactly you should be buying to get these bonus spending points. Some offer this for purchasing gas, while others reward you for shopping groceries at a certain market. At the end of the day, these things were made for practicality, so feel free to choose whatever seems most useful to you.
As stated above, there are many different types of spending cards, some more suitable for those who only use them to shop the less expensive products, and some for those who make the larger purchases in life. Limit or no limit, the ability to pre-load it with funds, and the option to pay without writing pins are all things that can serve both as an advantage or a disadvantage. It’s up to you to consider all these factors and choose what seems to be most useful for your own needs. We hope that our guide was clear and helpful enough. Stay safe and we wish you happy spending.