The Best Credit Cards Teach Good Financial Habits
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by: barrywaters
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The best credit cards for one person or business may not be the best credit cards for someone else; everything depends on your personal situation and future financial plans.
People who carry unpaid balances over from month to month should look for the best credit cards that offer a low, manageable interest rate and low annual percentage rate (APR). These cards typically carry a low introductory rate and either a fixed or variable APR. With variable APR cards, the interest rate is typically tied to the national prime rate. It is easy to see that cards with a fixed APR would be the best credit cards for carrying over unpaid balances.
Someone transferring a balance from one card to another would look for the best credit cards that offer a 0 percent introductory APR on balance transfers. You can actually lower monthly expenses with these cards by consolidating higher interest debt into one 0 percent APR account. However, keep in mind that there will be an expiration date for this introductory rate so that you are not taken by surprise by a higher interest rate. Also keep an eye on balance transfer fees so that you are not surprised by those, either.
The best business credit cards have low introductory rates, quick access to credit to help with company cash flow and benefits like expense management reporting that assist you with the everyday details of running your business. Benefits like reward points, that can be redeemed for travel, help keep the cost of business flying to a manageable level. Some of the best business credit cards allow you to add employees as additional card holders in order to consolidate business expenses into one main account, which certainly makes monthly accounting much easier. Another option is the business account that allows you to provide your employees with preloaded credit cards for business expenses. This type of account is an excellent way to stay within budget.
You can never emphasize enough the importance of a good credit score. The best student credit cards start your child off on a lifetime of good credit habits. The best of the student credit cards also start the new cardholder off with a 0 percent introductory APR, rewards and cash back and incentives for timely payments. Some also reward good grades. Be aware, though, that these cards generally charge a higher interest rate once the introductory rate expires. More Reading Low interest credit cards . Credit cards . Best credit cards . Credit card application .
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