What Credit Card Should I Get?

12.04.2024 - 17:37 / insider.com

Affiliate links for the products on this page are from partners that compensate us and terms apply to offers listed (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate credit cards to write unbiased product reviews.

Credit cards aren't just a spending tool; they can be a smart financial strategy when used wisely. From managing cash flow to securing rewards, the right credit card can enhance your financial portfolio. But with countless options out there, how do you pick the perfect one for your wallet?

Before diving into the sea of credit card options, take a moment to reflect on your financial habits. Are you a frequent traveler, a student, or a business owner? Understanding your specific needs is the first step in finding a card that aligns with your lifestyle.

While it's always best to pick the best credit card that offers rewards that fit your personal spending habits and travel goals, there are a few attributes that come in handy for reasons beyond just the return you'll get for everyday purchases. 

Credit cards come in various forms, each tailored to different financial needs and lifestyles:

Ideal for those who love perks. Whether it's travel miles, cashback, or points, rewards cards turn your everyday spending into exciting benefits. Whether you're earning more cash back at stores you love, or earning miles towards your next big trip, rewards credit cards are an appealing option. These cards are generally reserved for those with the best credit scores. 

Balance transfer cards are a lifeline for those looking to manage debt. By transferring existing debt to a card with a lower interest rate, you can save on interest and pay down your balance faster. The cards with the longest intro APR periods are often only good options for debt consolidation and generally do not offer rewards on ongoing spending.

These are designed for young adults stepping into the financial world. Student credit cards often have lower limits and education-focused rewards, making them a smart start for building credit. Student cards often offer credit-building tools and credit-monitoring features to help students create good habits as they learn about their finances. 

Tailored for business owners, business credit cards not only manage business expenses but many also offer lucrative rewards that can benefit your business. You will need to have a business to qualify for a business credit card, but many side hustles are eligible for small business products.

Selecting a credit card isn't just about the perks. Here are some critical factors you should consider:

Understanding the interest rate, or APR, is crucial. It can significantly affect the cost of your