credit cards

3 traits of a good credit card

These days, when it comes to credit cards, there are many options. With interest rates rising and a variety of fees, it can be difficult to pick the best one out of the bunch. However, the best credit cards often have some traits in common. Choose wisely, and you'll reap the rewards.

Low APR

The APR, or annual percentage rate, on a card should be a low one, especially if you don't plan on paying it off in full every month. Some of the best cards will offer a zero percent APR for at least the first six months. Seek out a low APR with Bankrate's credit comparison tool.

Rewards for spending

It's great to get something back, but rewards cards can get tricky. Rewards will vary according to the institution, so make sure to do plenty of looking before you leap. Don't simply choose a rewards card because it seems to have the best offer; be certain that you'll actually use the rewards offered. For example, don't choose a card that offers free airline miles if you never fly. Instead, go for one that offers cash back on a variety of things such as gas, restaurants or home improvement.

Annual fee: What annual fee?

Some of the best credit cards have no annual fee. Typically, annual fees appear on cards for those with limited or poor credit, and on premium rewards cards. Read over the terms carefully to discover other important fees.

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Balance Transfer Cards 15.71%  0.02 15.69%
Cash Back Cards 16.41%  0.01 16.40%
Low Interest Cards 10.86% --0.00 10.86%
 
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