There are lots of different credit cards to choose from and when you are choosing one then there will be reasons for choosing particular cards over other ones. Most people will focus a lot on the interest rate though. They will want to make sure that they have a card which will give them a decent rate so that they will not have to pay so much for using it. However, this will not always be the best choice for everyone as it will depend on the way that you use your card.
If you Only Repay the Minimum
if you only repay the minimum balance on your card each month, then you will be paying interest for a long time. You will be repaying the interest each month and perhaps just a little bit extra to cut down what you owe just a little bit. This will mean that you loan will hang around for a long time. If you keep spending on the card, then it will last even longer and it will mean that you will be paying interest for a very long time. If you are in this situation then you will want to make sure that you are not paying more interest than necessary for the things that you are buying. Therefore, it can be a good idea to keep the interest rates as low as possible and then you will not be paying so much in interest. Interest rates vary between lenders and so it is a good idea to keep comparing them. It is possible to transfer the balance of credit card to another one and so this might be something that it is worth doing inf they have a significantly lower interest rate. You will need to check the terms carefully though as there might be a different interest rate for those who are just taking out the card, compared with those using a balance transfer. Get in touch with the card issuer and find out first.
If You Always Repay the Full Balance
If you always repay what you owe each month on your credit card then you will not really need to worry that much about the interest rate. You will not be paying interest on the credit card and so it will not be relevant to you. It might be better to have a look at other features which might benefit you instead. Things like looking at cash back cards might be worthwhile as you could make some money back on the card. These tend to be higher interest and so it will not matter if you use them as you will not be paying interest. You may also have preferences over which card issuer you like and by not having so much concern about interest rates you will be able to choose between them all. However, it is still wise to keep a check on the interest rates. This is because you may find yourself in a situation where you will be unable to pay the credit card and then the interest rates could be important to you. Hopefully this will not be the case and if you have an automatic payment to always repay your full balance each month, then there is no chance that you will forget to repay the card and so it will be much harder to not repay it in full. Try to also keep a check on what you are spending so that you do not make the card unaffordable to repay. It can be wise to check the balance a few times in the month so that you can watch out for this.