How To Choose The Right Credit Card

How To Choose The Right Credit Card

Too Many Credit Card Offers? How Do I Choose the Right One?

There are so many card offers in the marketplace…and in your mailbox…with so many different promotions…how do you know which one to choose?  When thinking about getting a personal credit card there really is only one important question to ask yourself: What are my financial needs? Keeping the focus on your needs without allowing the myriad of impersonal offers to cloud your financial goal is key to choosing the right credit card.

Once you have a clear goal in mind, the next detail to tackle is your credit score. The better the credit score—the better the credit card offer. Then, once your financial need and credit score are set, the last detail to identify is the type of card you want. There are many different types! I’ll identify some here, but also look to IncredibleBank as a resource to help you find the perfect card to fit for your financial needs.

Do A Credit Check
Do you know what your credit score is? In today’s world your credit score is everything. The better score you have the more likely you will be to get a better credit card offer. There are several ways to check your score (link to the Credit Score educational module) and once you know your score, it will be your beacon to narrowing down the right card for your financial needs.

Identify Card Goal
This is where the promotional offers can overwhelm you! Keep your focus on your financial goal to truly determine what type of card will best fit your needs. Will you pay off the balance monthly or carry a balance? Are you going to transfer a balance to the card? How important are rewards to you? Where and how would you use rewards if you had them?

It’s important to choose the right credit card from the start, rather than going through several different cards that didn’t exactly meet your needs. IncredibleBank's card experts can help you determine the best card type to match your goals.

Here are three important goals to understand:

1) Build Credit
Building an excellent credit history is how to build that nice credit score. Do you want to build your credit score? Or maybe you had bad debt in the past or haven’t been able to build a payment history yet. Either way, there is a card to help you build your credit and build it fast!

2) Save on Balance Interest While Paying Down Debt
Do you have balances on other credit cards you’d like to pay down? Or, are you planning to buy materials or have a large upcoming expense you’d like to pay with credit? With an extended introductory offer you can save on interest and pay down balances all on one card!

3) Earn Rewards
Do you want to earn while spending? Would you prefer straight cash or merchandise and travel? There are rewards for every type of person and every type of spend history. IncredibleBank can help you find the best fit by looking at your spend history and giving you an idea of your rewards earning potential. With cash back options, travel, merchandise, gift cards, etc., IncredibleBank can truly help you figure out that next step.

Additional Card Benefits for YOU!
At IncredibleBank, once you get one of our credit cards, you also receive additional benefits!

  • Credit Card Mobile App with Geolocation. 
    Make payments, establish travel notifications, set up auto pay, etc. The app also has a unique geolocation feature that will reduce declined transactions while providing verification that the mobile device is close in proximity to your credit card transaction (currently only available for Visa Cards).
  • Fraud Tools.
    You can set up fraud tools to monitor your card without actively watching online transaction activity and be alerted if any suspicious activity occurs. Alerts could be set for anything from Card Not Present to transaction activity. Once these two-way fraud alerts are activated, you’ll receive immediate communication if any fraudulent activity is detected.
Choosing the right card doesn’t have to overwhelm you. Keep the focus on your needs, use your bank as a resource, and don’t let the impersonal card offers cloud your financial goals. 

Author: Courtney Bumber
Card Product Specialist