Want a Credit Card? Here’s What You Need to Know

credit card presentCredit cards provide a convenient way to shop and pay your bills on a cashless basis. Yet, with all its advantages, remember not to lose sight of the harm credit cards can do to your finances if you fail to manage them well.

We have listed a couple of reasons why we think credit cards are great to have, as well as some of the things you should look out for before getting one.


There’s nothing more convenient than being able to shop or make payments without bringing or using any cash at hand. Buying is a breeze as credit cards can be swiped at any time and used anywhere. People who travel a lot benefit from credit cards as they can pay in restaurants, airfare, entertainment, etc. They can also be used internationally for a minimal fee giving anyone the convenience of cash, without the hassle of local currency conversion.

Credit Limit

Bank vary on how much money you use on your card. Some banks provide credit limit depending on your monthly income, declared assets, loyalty, and credit standing. If you start low, you can request to up your credit line as long as you have good payment history and have stable monthly income.

Fees and Rewards

Interest charges, late fees, and annual fees are some of the costs associated with credit card. Whether you use your “plastic money” or not you will incur some charges as is the case with annual fees. Late payments could add up pretty quickly through compounding interest.

Annual fee is another consideration. Banks vary in the amount of annual fee they charge for each card. However, low annual fees doesn’t always mean low maintenance overall. Read through the fine print to learn about the charges that come along with the perks given by the credit card.

Identity Theft

Cases of stolen identities and credit card fraud have increased recently. Criminals use the information gathered in your card to commit fraud and other crimes that extort or steal money from the user, with or without one’s knowledge. Be careful with handling important information such as your credit card number, security codes, and other personal details on unsecure websites, or on public computers

A quick search of identity thefts will show you that many stem from divulging private credit card information to crooked merchants.

It is becoming easier to obtain a credit card. The challenge for users lies in avoiding the temptations and opportunities for misuse through prudence and discipline.


Are you ready to apply? View our comparison table, including more than 100 selections and compare credit cards to find the one that fits your needs best!

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