Most people are set in their ways, using there one and only credit card as there go to payment method. However, it’s important to remember that there are a variety of credit cards to meet a variety of needs. There are balance transfer credit cards, interest free credit cards, bad credit credit cards and more. Clearly, each card is better suited for different circumstances.
Nevertheless, in a startling statistic, a whopping 49 million American credit card users have never switched from their favoured credit card. Of course, this could mean that 4 in 10 American credit card holders have made the perfect choice. However, it’s much more likely that a few of them are swiping a mistake each time they make a payment! Consequently, here’s how to find the right credit card for you.
Bad Credit Credit Cards
A safety net for any who owns one, a bad credit credit card is extremely useful. A well-known provider of such cards, Ocean Finance offer credit up to £1,500. Obviously, this card is for those who are looking to improve their credit rating, making them more legible for loans and further financial help in the future. After a history of late bill repayments or excessive debt, this credit card can start putting all the pieces back together again and is a good starting point for the financially downtrodden.
Interest Free Credit Card
These cards are best suited to those making a considerably larger than usual purchase. This is because they don’t charge you interest on your balance for a fixed period, allowing you to pay for expensive items immediately in a more careful and controlled manner. Of course, at the end of the fixed term, the ‘interest free’ side of the deal is lifted, and you will need to pay what you owe. Nevertheless, this is a good buffer for bigger payments and allows a quick bit of breathing room!
Balance Transfer Credit Cards
A balance transfer credit card can transfer money from a card with a higher interest rates to a card with lower interest tariffs. You can only transfer the amount of your credit limit from one card to the next, but still, this is a viable way to consolidate your debts too. Of course, consolidating debts into one big debt might not seem like much of a solution. Still, if nothing else, it’s easier to keep track of a singular payment a month than multiple payments flooding in at the same time. The fewer payments, the easier your money managing will be!
