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Between television commercials, and advertisements on the Internet and in your mailbox, there is no shortage of information about credit cards. But when it comes to determining which one you should get, a pretty good place to start, when sorting through the hundreds of cards on the market, is to eliminate those you should avoid.
With so many different credit cards available, there are right and wrong cards for each different kind of credit card user. So first figure out what type of credit card customer you are, and then be sure to avoid these cards.
Between one-half and two-thirds of American credit card users carry a balance each month. This means that these cardholders are always incurring interest charges on their existing debt as well as on their daily purchases. Therefore, they should avoid the following kinds of cards:
By avoiding all interest charges, cardholders are free to earn the most valuable rewards possible. Yet many of these cardholders continue to use the same cards, year after year, and they may no longer be competitive.
Travelers use credit cards for their amazing security and convenience, but those who travel regularly have special requirements.
Before you start shopping for a credit card, it’s helpful to know your credit score so you can target your search to cards for which you’re more likely to qualify for. Having a higher credit score can help you get lower interest rates, but lenders also have credit score requirements for various credit cards. Credit.com offers a way to check your credit scores for free — they get updated every 14 days, and come with an analysis of your credit report, as well as an action plan to help you get your credit in better shape.
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