How to Compare Between Multiple Credit Cards

In this information age, afford apply for a credit card without comparing other options reveals little financial judgment. However, this behavior should not surprise us because many people prefer to rush before investigating.

Article content

1. What do you have to take into account when choosing a credit card?
2. Tools to compare different credit cards
3. Schumer Box
4. Online comparators
5. Final recommendation

As at Hispanic Business Blog we want to help you make an informed decision, we will give you our suggestions to evaluate different credit cards.

What do you have to take into account when choosing a credit card?

Before entering the subject, we invite you to better evaluate the reasons why you want to compare between several credit cards. The purpose of opting for this financing is enlightening, reduces options and simplifies the process.

Depending on your score, it is possible to access some 500 or more plastics offers in the United States.

Cash Rewards credit card

• APR: 16.24%
• Annual quota: $ 0
• Credit limit: Consult

More infoRequestChase Freedom Credit Card

• APR: 14.99%
• Annual quota: $ 0
• Credit limit: Consult

More infoRequestWells Fargo Cash Wise Visa

• APR: 13.99%
• Annual quota: $ 0
• Credit limit: Consult

More infoRequestCiti Rewards + Card

• APR: 15.49%
• Annual quota: $ 0
• Credit limit: Consult

More infoRequestTD Cash credit card

• APR: 15.24%
• Annual quota: $ 0
• Credit limit: Consult

More infoRequest

With this in mind, you need to prioritize what exactly do you need a credit card for taking into account your current financial situation. While motivations vary from person to person, the most common categories are:

• Purchases. The mother of all reasons is having funding to spend. Although you have to know how to handle a TDC intelligently because of its high interests, the possibility of getting more things on credit is what most seduces people.
• Rewards. There are them for all tastes, from VIP services when traveling, points to obtain cash and gifts, miles for each purchase, to welcome bonuses. They are popular for building store loyalty, receiving discounts on gasoline, and earning a percentage of cashback.
• Balance transfer. They are usually plastic with a 0% APR for 12-18 months that you can use to consolidate debt from other credit cards that you pay at a higher interest. You can get banks that charge you or not to do this procedure.

Tools to compare different credit cards

Once the reasons for getting a new credit card have been established, you can move on to the aspects that cannot be missing in your evaluation. If you have a roadmap on what should prevail in your search, it will be easier for you to establish a list of your 5 most attractive options.

When comparing, you have several tools:

Schumer Box

This kind of table, named after the senator who promoted its application, is used to evaluate the interest rates of the cards available in the market.

Is a chart that banks and plastics issuers must publish by law so that consumers know the fundamentals about the product they are looking for or are interested in hiring.

All credit cards must have a section or link with their respective Schumer Box. As usual, You can find it on the page that describes the product or at the online site designated to apply.

It can be a link or a box that indicates: "Terms and Conditions","Rates and Fees”,"Pricing and Terms”Or other similar descriptions.

What you are going to find in this synoptic table looks like this:

• Annuity.
• APR for purchases.
• APR for transfers.
• APR for cash advances.
• Late Payment Penalty APR.
• APR charged in case of maintaining balance.
• Time of percentage 0 of APR for balance transfer or purchases (if applicable).
• Other fees, such as late payment, overseas transfer, cash advance, and more.

In the United States you can get plastics whose APR goes from 9% to 25%, depending on the nature of the product.

The highest interest rates are reserved for secured credit cards and those with poor or fair credit scores. When you score It is not the best, banks are going to charge you more for the risk they assume.

Online comparators

One of the reasons why it is not justified to claim that there is not enough information or that these investigations take too long, are the resources on the Internet.

The search engines / comparators like Hispanic Business Blog they have become the norm to have at hand, and in seconds, updated data on a wide variety of banking products, including credit cards.

The usefulness of these tools makes it easier for you to consult the financial institutions that interest you the most. In addition to giving you specific reviews of their most valued instruments, you can visit official pages if you want more information.

So you can have a detailed record of each credit card, review expert comparisons and draw your own conclusions.

Final recommendation

When it comes to compare multiple credit cards, you can not miss the purpose, know how is your
score of credit and the options that best fit your profile. These keys will give you a clear direction on the banking products that best suit you and how to arrive at an objective choice.

Whether you want a credit card for emergencies, benefits, or insurance, you need to understand which of these can help you the most with your personal finances. And if you still have doubts, you can always consult our experts who will gladly advise you.