Choosing a credit card is no small decision. It’s one that you’re likely to live with for years, and there are countless options out there. So where do you start? These three simple steps will point you in the right direction:
1. Decide how you’ll use the card
Before anything else comes into play, you should think about how will to use the card. Will you make everyday purchases or save it for large purchases and emergencies? Are you able to pay off the balance each month, or will you carry a balance? The answers to questions like these will help you choose between card features like a low rate or rewards.
2. Check out interest rates
In most cases, your rate will depend on a variety of individual credit factors. Knowing your credit score can help you estimate your interest rate before you even apply. If you plan on making big purchases that take a few months (or more) to pay off, your best bet is to look for a credit card with a low interest rate. A lower rate means that more of each payment goes towards the principal and not towards interest. This allows you to pay off a balance faster, ultimately saving you money.
3. Make Cash Back on Balance Transfers
Now through August 31, 2014 when you transfer your balance to a Rivermark Visa we will give you 1% of your transfer in cash back. Click here to transfer your balance to a Rivermark card and keep your money at a local financial institution you trust. Keep an eye out for future promotions that can help you earn some money back.