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Major Credit Cards
"Cards colored gold, platinum, titanium, or that special
material used to construct the U.S.S. Enterprise are nice
to have if you can get them."
- Ilyce R. Glink, author of
100 Questions You Should Ask About Your Personal Finances
If a million credit card offers pour into your mailbox everyday,
don't just take the most attractive offer--shop around. See
what your local banks are offering in terms of interest rates
and other perks. The point is, be pro-active in your search--the
way you would if you were shopping for a coat or a sofa. Avoid
taking the first one that catches your eye.
- Shop for a credit card and banking package together.
- Comparison shop for the best interest rates via the Internet.
- Most cards offer some form of value-added discounts, so
shop for the deal that you'll use the most.
- Premium cards--such as Gold or Platinum cards--generally
offer higher credit limits and various "member" privileges,
such as free traveler's checks. Most charge an annual fee
of $50 or more; so make sure the perks are worth the price.
- Be smart. If you're carrying a balance and pay 18% interest
on a rebate card that earns you a 1% cash-back bonus--you'd
be so much better off with a 12% card that pays nothing
back.
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