Why Do You Need Credit Card

Having credit cards is nowadays a fact. Not only can you use credit cards to pay for what you buy in stores, gas and bills, but you can also use them to build your credit history. Unlike many countries around the world, your US credit history can determine whether you can get a car loan or even one for studies. At the end of the day, a credit card is a tool that can help you save on your daily costs and build a better credit history.

Credit cards are a great tool to save costs if they are used in the right way. Many consumers apply for credit cards that have many savings features but do not use the potential of their cards. A good credit card is like a good car. If you don’t use it properly, it won’t benefit you in the way it should.

Credit cards for consumers and business credit cards are very different, and the thinking process that follows their choice is also different. But most credit card holders for individual and business customers choose one credit card instead of another because of one of the following factors:

Annual fee: Most consumers simply look upfront at the credit card with an annual fee. Consumers simply do not want to simply pay an annual fee to be entitled to a credit card. Many consumers do not take into account the fact that credit cards with annual fees often have more features and benefits in terms of cost savings. Business credit card holders are more open to the idea of paying an annual fee to credit card issuers. So no wonder credit cards such as Plum card and American Express Gold are the most popular credit cards in the market.

Balance Transfer: Balance transfer functions are important for both consumers and business owners. Credit cards that are provided with a low APR balance transfer are almost as popular as cards that are provided with a higher APR, but without transfer fees. The standard balance transfer in the credit card industry is 3%. However, there are minimum and maximum amounts that you can be charged, and these amounts vary in different credit card offers. At the end of the day, lower transfer rates are useful for people who plan to transfer very high balances to their credit cards.

Initial offers: Credit card offers are very effective in attracting and retaining cardholders for some time. Chase, Advanta, American Express, and Discover all credit cards offer credit cards that come with an initial 0% APR for 6-15 months. Some cards focus only on the purchase of APR, while others focus on both the transfer of the balance and the purchase of APR. This is given that credit card companies can limit their initial offers from a struggling economy, but initial offers are still one of the most popular reasons why people choose one credit card instead of another.

Value for life: There are a few brave men and women among us who stick to one or two credit cards for more than a few years. These people choose their credit cards based on the value of cost savings over their lifetime. Credit cards that come with life-time balance transfer or purchase rates are very popular in this group.

There are many other factors to consider before applying for a credit card. However, the above factors are considered the most important by most business and consumer credit card holders. At the end of the day, before choosing a credit card, you should have a clear goal regarding what you need to achieve with a credit card. Visit american express.com/confirmcard to save yourself a lot of time and headaches and get the best results from credit cards.



Leave a Reply

Your email address will not be published. Required fields are marked *

Time to Write

Lots of people have actually entertained the concept of being a writer. They really feel the interest to write. They...

A Long and Complex Process in SSD

You've ended up being injured, established a debilitating health problem, or you have actually lastly succumbed to the innovative impacts...

What To Look For In An Internet Marketing Specialist

The success of your internet sites depends just on the net marketing approaches you are utilizing. You might have a...

Selecting a Company Marketing Professional

Having spent many years collaborating with little and mid-sized B2B as well as B2C companies on their marketing as well...

UK Towing Laws

Most individuals nowadays as soon as they have passed their driving examination do not realize that in certain locations there...