How to Find Unsecured Credit Cards That Suit You Best

Which credit card is right for you?

Many types of unsecured credit cards exist, fitting nearly every credit profile you can image. Things to consider when looking for an unsecured card include interest rate, fees and potential rewards. Your credit history will likely have an impact on the cards for which you qualify. Generally, the better your credit, the more credit card choices you have.

Things You'll Need

• Credit score

Instructions

1. Read the credit card disclosure required by the federal government when considering an application. This disclosure includes interest rate, fee structure and grace period.

2. Know your high-interest rate risk. Lower interest rates are given to applicants with the best credit scores. If you have a bad score, you may have to accept a credit card with a higher interest rate until your score improves.

3. Determine what type of credit card shopper you are. There are cards for all types of credit histories: applicants without credit experience, those with bad credit history and those with a good history. Consider establishing credit with your school's credit union if you're a student.

4. Apply for a retail store card if you have poor credit. These cards often have low limits and high interest rates, but a reputation for approving those with little or bad credit.

5. Consider a credit card with a high credit limit if you are a big spender. A rewards card is also a good credit card if you typically maintain high balances. Purchases can earn points that can be redeemed for goods, services or even cash.

6. Use a credit card finder website such as Bankrate.com or CreditCards.com to search for cards that fit your spending pattern. These websites have offers from all the major card issuers grouped by type of credit card, including balance transfer cards, rewards cards, student cards, etc. Use the database to search credit card offers based on your credit history, whether excellent, fair or poor.

Tips & Warnings

• Watch out for credit card scams, especially those targeting applicants with bad credit. Any upfront fees should be charged to the credit card and should not be more than 25 percent of the limit.

References

• Bankrate.com How Do I Find the Best Credit Card for Me?
• The Consumerist: How to Get Your First Credit Card
• Credit.com: Which Type of Credit Card is Right for You?
• CardRatings.com: Credit CARD Act Protects Subprime Borrowers