Credit Cards

Credit cards come in lots of different versions. Some have no monthly fees but charge a hefty interest rate, some have monthly fees and don't charge as high a rate, some provide you with “prestige” for an annual fee, some have bonuses attached to them like air miles or automobile down payment dollars, and some have variable rates rather than a fixed rate. How do you know what card is the best for you?

Ask yourself some questions

Why do you want a card? Is it just to have for emergency or when you need to pay an unexpected bill, like when the car engine blows up? Are you looking to use the credit card for all your purchases so you can build up your air miles and get a free trip or a discount on your next car purchase?

By Murray Anderson