When you’re looking for a credit card, you’re looking for a piece of plastic that is going to give you benefits that no one else can. You’re looking for something that will provide features better than anyone else on the market. Learn more about the credit card industry here.
There are probably hundreds of different credit cards out there. Some are better than others. Some are amazingly great, and one can’t live without them, while others are awful and no one is supposed to have them in their wallet. Using them would be a disaster.
So, how to know which ones are good, and which ones are bad? The main criteria that you should know are the fact that every bank has its own policy and creates its own terms. They will impose their rules depending on how they feel it’s best for the company and for their clients.
However, even one financial company issuing cards is going to have different terms on different cards. This is why you need to know what you’re looking for, and you must know how to find the ultimate best kredittkort.
In this article, we’re going to share a couple of tips on how to find the best credit cards and the best company issuing them. See what we have prepared if you want to know what you must focus on, and what to look for.
1. Look for one from the neighborhood
Once you get the card manufactured, you’re going to need to go to the bank frequently. Of course, that doesn’t mean every day, but you’ll need to visit them at least once every few months. You don’t want to walk for miles to their office, but you need it to be close.
Every need, question, and task you have should be handled there, so you want them to be from the area. Of course, you can choose a big corporation or a bank that has multiple branches, but they need to have one located in your neighborhood.
2. Make sure they know what they are doing
When you’re choosing a company to handle tour finances, you want one that has tons of experience and knows how to deal with its customers. You don’t want to work with a company that is just starting to work in the business, but someone that knows what its clients want.
The newbies will usually offer something beneficial, as low interest rates, or getting a card with a poor credit score, but after some time, you’ll realize that they are missing some key elements and you don’t want to have anything with them. After you sign the agreement, though, it may be too late to change your mind.
3. See if they have a fitting offer
One financial company will offer multiple cards for various needs. For example, you might have a credit card that is made especially for people who earn a lot of money and spend tons of them. They will get a low interest rate and many benefits, but if they don’t fulfill an amount written in the agreement, they’ll be penalized.
On the other hand, you have those who are created for the ordinary person. Everyone wants the mitt kredittkort that is tailored exactly how they want it to be. That’s not a bad thing, of course, but you need to consider the bank’s needs too. Based on what they need, you might have something close enough. Find the one that will be the most similar to your needs.
4. Look for a low annual interest rate
The interest rate is the most crucial part of every credit card. Depending on how high the interest rate is, that’s how much you’re going to lose when the new billing cycle arrives. The amount is on a yearly level and can be flexible or fixed, but the billing cycle is usually every month.
If you spend $10,000, then every month the interest rate will “eat” a little more from your account than the money you actually used to buy something. Until you repay this amount fully, the interest rate will charge off your account until you finally return everything and close it.
Depending on how high the interest rate is, you may be charged a lot or a little. That’s the difference between a great credit card and a poor one. When you order one with a 10% interest rate, you’re getting a good deal, but if your credit score is low and you get one for 25%, then you need to be careful what you’ll spend the money on, and make sure you return them immediately.
5. See if there are rewards that match your lifestyle
Rewards are a great way to make the use fun. At the same time, rewards can make a difference between having a piece of plastic and having a tool that can get you a lot of free stuff. It all depends on your lifestyle and what you spend most of your money on.
Let’s say that you’re traveling a lot and you pay a ton of money every year for plane tickets. A lot of credit card companies will give you flying miles for free if you spend enough money on your card. Now, if you never fly, you have no benefit of this, but if you do, you might save a ton of money on plane tickets.
6. Find out more about account limits
No credit card is limitless. Of course, excluding those made for people like Jeff Bezos or Bill Gates who are billionaires and they can repay anything they borrow. For the ordinary person, every card comes with a limit.
This limit is crucial to know so you can plan what to do with it. If you wanted to organize a move from one city to another, and your card has a limit of $10,000, then you might not find it enough. On the other hand, if it has a much bigger limit, then you can rely on it until you get the next paycheck and get on your feet again.
7. Where can you use it?
Some credit cards are simply not useful in other ATMs than the ones the company that issued them made. You don’t want this as it is useless when you travel somewhere else. If you go on a vacation to Aruba, for example, you might not be able to pay with it.
A great kredittkort is going to cover you wherever you go. It’s crucial to have the plastic working in every ATM and every bank around the world. Even if you go to the most faraway place on Earth, you should still be able to pay with your credit card.
These are some of the most crucial points you should know when you’re picking a company to issue your new kredittkort. Have these things in mind the next time you’re searching for a financial company making credit cards.
If they can’t meet some of the criteria described above, then that’s not the place you want to do business with. Skip them, and go to their main competitors. If they can’t give you what you need either, then keep searching until you find the great stuff.