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How to Find a Credit Card That's Right for You

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Credit cards allow for a greater degree of financial flexibility than debit cards, and can be a useful tool to build your credit history. There are even certain situations where a credit card is essential, like many car rental businesses and hotels. Read on to learn about how to find a credit card that works for you.

Applying for a Credit Card

Before applying for a credit card you need to do some research. It's likely that you already know the basics about borrowing, including the fact that you'll be charged an annual percentage rate (APR), but that's not the only figure you need to be aware of. Some credit cards have annual fees. While they're normally pretty low, they should be factored in when you decide on which card to take out. You should also make sure you're aware of the number of days you have to pay your bill in full before interest is added.

Consider Rewards and Intro Offers

When deciding which credit card to apply for, you'll have to consider the reward programs on offer. Some credit cards offer points for flights or hotel stays. Others offer gift certificates for retailers. While these perks are great to have, don't let a great introductory offer blind you to a card's high APR or costly annual fee.

Store Credit Cards

Should you apply for store credit cards? That depends on which stores you use regularly. These credit cards often come with a big sign up bonus. You don't have to sign up for a credit card from one of the major retailers in your area to take out a store card now, as Amazon.com offers one. The Amazon card works best for Prime members, who get five percent cash back.

Applying with ITIN

Did you know that you can apply for a credit card with your Individual Taxpayer Identification Number? Your ITIN can be used to get a credit card in the U.S. if you have a card in selected other countries with the likes of Citi, Bank of America and American Express. This process makes it possible for workers new to the USA who need a U.S. credit card but don't yet have a social security number.