When selecting a credit card, many consumers apply for the card with the lowest interest rate or which has no annual fee. Although it may seem like you are saving money, you might be making the wrong choice. There are many factors that go into selecting the best credit card, and if you don't take these into account, you may be missing out.
Finding a credit card that fits with your spending habits is important, because that's the card you will most likely benefit from most. If you always have a high balance, for example, you will want to look at cards with a low interest rate. If you pay off your balance regularly or only carry a small balance, you may find that other perks are more helpful.
Someone who travels often may get more use from a card with a rewards program that provides points for purchasing airline tickets or hotel rooms. To determine which type of rewards programs would benefit you the most, you have to be willing to analyze your credit card use. In some cases, you may not benefit much from a certain perk and may be better off selecting a different card.
Fortunately, if you later decide the credit card you are using is not right, you can often transfer the balance to a new card.
If you want more credit, check out MoneyTips' list of credit card offers.