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It seems there are as many unsecured credit cards as there are spots on a leopard these days, so you may be wondering how to select the right card for your particular situation. By doing a little bit of comparison shopping, you should be able to find the unsecured card that is perfect for you and that features rewards that you can easily earn for being a good borrower.
Low Or No Interest
The most important feature of your new unsecured credit card is the interest rate. Look for cards that offer introductory rates of zero percent (or up to 5%) interest for the first year that you hold the card. Learn beforehand under what circumstances the interest would go up, such as for late payments or other actions that might penalize you with higher interest. Know exactly when the introductory period ends.
Avoiding Nickel-And-Dime Fees
When comparing unsecured credit cards, look at the lending institution to assure it is a reputable lender that will be issuing your card. There are an abundant number of scandalous credit card issuers that will charge you exorbitant fees - ranging from absurd application fees, processing fees, annual fees, and more nickel-and-dime expenses that you will pay upfront before you ever charge a dime in purchases to the card. Be aware of other fees you might incur with the card. Look for over-the-limit fees and fees on cash advances. Choose an unsecured credit card with the lowest fees on all account possibilities.
Rewards That Add Up Fast
There are an abundant number of unsecured credit cards that feature rewards programs that are based on the amount of purchases that you make. The best rewards programs give you cash back on purchases. An unsecured card that pays you 2% cash back on purchases is a great incentive, if you do not have to make thousands of dollars in purchases to receive it. This is where reading the fine print will come in handy on your new secured credit card.
Other rewards programs that might be associated with your new unsecured credit card include incentive programs such as airline miles or savings with select vendors. If you travel by air frequently, an unsecured card that gives you miles redeemable like cash on the purchase of your next ticket may be just the reward you need. For those who do not travel, a savings program that gives you rewards points to shop with participating vendors (or even a catalog that is provided at the time you receive your card) can also be very rewarding.
Online Card Options
To get the best interest rates and terms, as well as bigger and better rewards programs, you might want to apply for your new unsecured credit card online. Online lenders have historically better rates and offer more premiums for qualified cardholders. Further, the online application process for your new unsecured credit card is much faster than applying by mail or telephone.
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