How to choose a credit card:

There are too many choices for credit cards these days. They are willing to entice you with the best of the best. Cash back offers, 0% interest for X number of months, travel benefits and merchandise. It is easy to fall into these traps if you are unaware of the pitfalls credit cards have to offer. You have to be belligerent in researching the proper card that is best for you. You must rememer, nothing is free in this world.

“I have been there and I have done that. or Been there, done that!”, is the saying that we are almost too familiar with. We have to learn from our mistakes and decide better the next time around.

I remember the story of Melanie. She is single, successful, earns a good amount of money for her age. But, she has a weakness. Her weakness is buying designer clothes and accessories. Nothing is wrong with that, unless you started buying designer clothes way before you got out of college. What did she use to purchase these? Credit cards! By the time she got out of college, she is waist-deep in debt. The interest alone is enough to consume whatever extra she may have from her salary after she pays her rent and car payment. She felt that she can never get out.

That story is way too familiar. People use their credit cards as if they are free cash. Did you know that most of the credit cards today can charge up to 30% in interest. Do not fall for the bait. Make sure you always read the fine print.

I was on the same boat several years ago. I had to dig myself out. I tried to pay each of the card, one at a time. What I did was consolidate them on the chase visa that I had which had the smallest amount of interest. (Zero for 12 months). Then, little by little, I paid extra each month to eliminate the debt I got myself into. Another good thing about my chase visa is that there are no annual fees to pay! No one should really pay for any annual fee for any credit card. It doesn’t matter if they give you a free plane ticket every 10 years!

My chase visa also offered extra benefits for free like Auto Rental Collision Damage Waiver and a Worldwide Travel Accident Insurance. They also offer a Flexible Rewards program which entitles the card holder to not only get a Free Airline Ticket as a rewards, but it is with combined airlines such as Continental Airlines and British Airways.

You have have to do your research before you apply for credit. There are lots of websites out there that would assist you. For example, if you see *** Bisa, you would think it’s a great deal right?? You have to remember that there are negatives and positives to each situation. Make sure you weigh them.

If you are presented these facts, would you still apply for the card?

Positives
# 0% apr offer for 12 months
# No annual fee
# Platinum Benefits
# Comes with a good reward program if you want a reward program (Flexible Rewards)

Negatives
# Charges a balance transfer fee even for the introductory offer
# Uses 2-cycle average daily balance method to calculate monthly balances

Only after your research can you tell whether chase visa is right for you.

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