How To Choose The Right Credit Card

There are so many card offers in the marketplace…and in your mailbox, your email inbox, and even when you're scrolling social media.

With so many different promotions, how do you know which one to choose?  

We'll walk you through the steps to take to choose the right card for you.

Know your credit score

First thing's first - what's your credit score? Knowing your score will help you ensure that you keep the right financial goals in mind when choosing your score. If you have a great score, you can focus your goals on rewards, interest savings, and more. If you have no credit or have less-than-perfect credit, you might want to shift your focus to building your score. 

Determine your goals for your credit card

There are three main goals to consider when determining which card is best for you. To determine your primary goals, ask yourself a few questions: 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?

Build Credit

A strong credit score comes with a lot of benefits, like better access to credit and lower interest rates on loans. If you're looking to build your credit history or repair some damage to your score, a credit card may help. Want more information on how to improve your credit score? Read the blog here

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!

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 options for cash back, travel, merchandise, gift cards, and more, IncredibleBank will have a card to meet your reward needs.

Do your credit card research

Once you know your goals, you'll want to research your options.

If your goal is to build credit, you'll want to look at cards designed to do just that. Look for secured credit cards that have you set aside funds in a savings account to match your credit card limit - depending on your credit score, this may be a great option for you to build your credit!

If your goal is focused on rewards, compare reward cards to find the right fit. For example, do you want cash back or travel rewards?

And hey, this is our website after all, so here's a shameless plug: 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 - you name it. 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.