Finance

Jul 14 2017

What credit cards should I get? #bad #credit #auto #financing

#what credit card should i get
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What credit cards should I get?

The type of credit card you should get depends entirely on what type of features you want your credit card to have. People that travel a lot would benefit the most from a rewards credit card with a frequent flyer miles program. Someone who is trying to save as much money as possible would probably prefer a cash back credit card .

The FREE credit card chaser will let you find the card that will have the features you are looking for!

What type of credit card is best for a frequent traveler?

One of the most popular frequent flyer credit cards available today is the Capital One Venture credit card. This card gives the cardholder two airline miles for every dollar they spend. Most frequent flyer cards only give one mile per dollar. If the cardholder spends $1,000 in the first three months, they have the card; they will be given 10,000 bonus miles.

This card is also unique in that there are no blackout dates on when the cardholder can fly. Some frequent flyer programs will not let cardholders cash in their miles during peak flying times like the holidays. This card also lets the cardholder earn as many miles as they can and these miles never expire.

The cardholder can redeem their miles for more than just plane tickets. They can choose other travel rewards like hotel rooms and car rentals or non-travel related rewards like gift cards.

The cardholder will have:

  • No annual percentage rate on this card for the first year
  • After that, an interest rate of 11.9%, 15.9%, or 19.9% on purchases
  • These same credit card interest rates will also be applied to balance transfers
  • Cash advances interest rate is a very high 24.9%

The cardholder has to make sure that they always make their credit card monthly payments  on time. If they do not, they will have their interest rate raised to 29.4%. This is a penalty interest rate and if the cardholder’s payment is late by more than 60 days, this extremely high penalty rate will be permanent.

There is no annual fee the first year the card is active, but after that first year, it will be $59. While there is an annual fee, there is no fee for a foreign credit card transaction  or a balance transfer. There is a fee for cash advances of 3% with a fee minimum of $10. There is a $35 fee for returned and late payments. If the cardholder goes over their credit limit, they will not be charged a fee.

What is a great credit card choice for someone trying to save money?

In tough economic times, it is important for people, especially those with families, to save as much money as possible. A cash back credit card is a great way for someone to get a percentage of the money they spend with their credit card back, almost like a refund.

One of the more popular cash back credit cards is the Freedom Card offered by Chase. The cardholder earns 1% back with every purchase, 5% back on special bonus category purchases, and as much as 10% if they spend $500 in the first three months they have the card.

The bonus categories change every three months. So in one quarter the cardholder could earn 5% back on grocery purchases and in the next quarter, they could earn that much back on entertainment purchases.

There will be no purchase interest rate on this card for the first six months and no balance transfer interest for the first year. After these introductory periods, the cardholder will have an interest rate between 11.99% and 22.99%. The interest rates for cash advances and overdraft advances will be between 19.24 and 23.34%.

There is also a penalty annual percentage rate on this card. If the cardholder makes a late payment, exceeds their credit card limit, has a payment returned, or has issues with any of their other Chase accounts their interest rate will be raised to 29.99%.

How can I find the perfect credit card?

The easiest way to find a great credit card is by using online search tools to see your choices all in one place.

Compare credit card rates with the FREE credit card finder  today!





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