How to Choose a Credit Card

Video Transcript

"How to choose a credit card? There are so many different factors into trying to choose a credit card. It depends really, on what your needs are. Some people are looking for mileage reward points. Some people are looking for different types of purchase perks. Some people are looking just for low interest rates. Some people are looking just for low interest rates on cash. Withdrawals, because those tend to be rather high when you, whenever you use your credit card. To get like cash advances. That's when we call in a bank involved. So there are so many different factors that goes into that. And you know, some people don't want to have to pay annual fees. I don't believe in paying annual fees. Because you already are paying too much, already. On the interest portion of it, as well. Depend on what kind of balances you, you carry on your credit cards. So again, how do you go about choosing a credit card. There are different avenues. BankRate.com. You can go on your banks' website or you know, or pick out any sample of credit card brochures. Or anything fairly similar to this. Where you see, it's talking about consumer credit cards. And it labels down each and every category that I've just mentioned here. Example would be the type of Visa card or Master card or American Express or whatsoever it is. And then, you see why it's talking about the annual fee. How much is the annual fee? Preferably zero, you know. The other part would be an introductory rate. What kind of introductory rate is being offered? Is it 0% for 6 months, 12 month? Is it 1.9%? on the balances that have been transfered over. Or is it just you know, 0% on the first year? On whatever you acquire on the credit card. Those are some of things, you want to be cognizant of. While you're looking around for a credit card. The other part to it, again we've already talked about the cash rate. We've also talked about the balance transfer rates. One of the other features on there, some people want to use their credit cards. To you know, to be able to get mileage rewards. So you can travel. I've done that before. And trust me, it's a very fantastic thing. And then, what other type of special features are being offered on the credit card. That you know, would be something that would be of use to you. So those would be the things for you to look at. Look for at least, while you're trying to choose a credit card."