Comparing Credit Cards

Friday, May 16th, 2014
Updated: May 16th, 2014
The content is accurate at the time of publication and is subject to change.

Today many credit card offers claim to have the best rates and benefits, but when it comes to finding the best one for your financial needs, you should read the fine print. It is important to look beyond the generous benefits of cash back or rewards and learn more about the credit card.

The main thing you should do is to understand why you need a credit card. Is it a short-term way to finance purchases and borrow money or credit card is a convenient financing tool for you. Also, figure out if you want to use your card for emergencies or as a financing tool, whether you pay bills on time, and how much you spend.

Knowing your financial discipline will help you sift through the different credit card terms. And the tips below will help you consider as you choose a credit card.

Point Rewards or Cash Back

If you are planning to spend a significant amount on your credit card, then the cards with cash back or rewards are great because they bring extra value. Consider what gets you more value – cash back or points.

Choosing credit card with cash back means you will have cold cash in your wallet. When you spend money on your credit card you will get some percent of that money back and some issuers will cut you a check, give you a credit on your balance or send you money in a bank account.

Point rewards credit cards work in a different way, they earn points on purchases. Look at what you earn for every purchase or within specific categories. Also understand how to redeem rewards and whether you need a minimum balance to do so. If you prefer rewards instead of cash, look for a credit card with a good sign up bonuses base. Cards with rewards that change on a monthly or quarterly basis can be difficult to track.

Annual Fee

Annual fees for cards may vary dramatically, as well as benefits. If you are going to apply for a card with an annual fee, there has to be a reason for it and you have to get back enough to justify that annual fee. As there are many cards without an annual fee with benefits like rewards, paying an annual fee may not make sense if your card spendings are low.

When you apply for a credit card with an annual fee, understand what you will get in exchange. The extra airline miles, free checked bags or airline lounge access may make economic sense and outweigh the cost of the annual fee. If you do not use such benefits, you may not want to pay for them.

Interest Rate

Interest rate or the annual percentage rate (APR) is important if you carry a balance and don’t pay your bill in full.

The higher the APR, the more you will pay every month. To keep charges low, look for a card with low interest rate instead of one with rewards.

Also, there are cards with low introductory rate that increases over time. When you get such card, make sure to either cancel it before the interest gets high or never carry a balance.

Late Fees and Grace Period

If you are one of those who pay late or go over the credit limit, it is recommended to review a card’s grace period and penalty fees because they are usually higher than the interest charged. It may want to understand what will happen if you are late and how rates will change.

Insurance, Purchase Protection and Credit Tracking

There are credit cards which provide insurance when you rent a car and come with purchase protection. And more credit cards are starting to offer credit card monitoring tools to track your credit or even FICO score. But you have to make sure your credit card offers these benefits and if they are free.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

Latest Fair Credit Credit Card News

Wednesday, August 29th, 2018
No one likes being in debt, but a recent study from Fidelity showed that having high levels of credit card debt, medical bills, student loans, and other financial stressors could ...
Tuesday, February 27th, 2018
Coffee drinkers are in for a treat with the new Starbucks Rewards Visa card, a co-branded credit card for folks who love coffee – and credit card rewards. Whether you have fair ...
Wednesday, September 13th, 2017
J.D. Power’s latest customer satisfaction survey brings good news for American Express cardholders – but they might already be aware of it. Not only did Amex score the highest for ...
Wednesday, April 12th, 2017
A new credit card from Synchrony Financial offers drivers the ease of paying for automobile maintenance as well as gas.
Tuesday, November 22nd, 2016
Holiday shopping seems to start earlier every year, but this year more than half of people surveyed by Synchrony Financial said they would head to the stores even earlier, in ...
Best Credit Offer
Capital One® Platinum Credit Card
Check off the cards you want to compare. Then click the Compare link to go to the comparison table.
Consumer Rating: 5 / 5
Horizon Card Services Horizon Gold Credit Card
Copyright © 2001-2018 All Rights Reserved.

*See the credit card's terms and conditions on the online application page. Note that this website may be compensated by credit card issuers when the visitor applies for a card through the links on this website. We do our best to maintain all information accurate and up to date. However, we do not warrant the credit card information won't change. Click the "Apply Online" button and review the current info on the secure credit card terms page.

Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer. Opinions expressed here are the author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions. makes every effort to keep information up to date and accurate. However, the information regularly changes and is presented without warranty. Therefore, we strongly recommend all our readers to visit the credit card application page by clicking "Apply Online!" button to review the detailed credit card's terms and conditions. Note that may be compensated by the credit card issuers when the readers apply for a credit card through this site. is an independent, advertising-supported website which receives compensation from the credit card issuers and companies whose offers appear on the site. Compensation may impact how and where products appear on our site, including, for example, the order in which they may appear on the site pages. does not review or list all available financial or credit offers.

Disclosure: Not an access card.

You've successfully subscribed!

Please specify the following:All these fields are optional

Thank you for providing this information! We will make sure our letters are useful for You.

User Generated Content Disclaimer: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.