Emergencies happen. It seems every day there are more reasons to have a credit card for emergencies. No matter what you are saving up your pennies for, whether it be for emergencies, travel or your favorite charity, keeping within your budget is paramount. We all are looking for the best ways to save money so making sure your credit card doesn’t charge you a ton of fees helps.
I Don’t Have a Credit Card!
That’s okay! Before you decide to apply for random credit cards, just do some research! Start with your credit score if you don’t already know what it is. Freecreditscore.com will help you find out what you need to know about your credit.
Talk to your bank. Your bank has personnel who are always ready to talk to you about building and maintaining your credit. They have a font of knowledge that is there for you to tap, so don’t be shy. Get down there and ask all the questions you need to. It might help if you write some of them down before you go.
Which Card Should I Obtain?
If you are just starting out and haven’t built any credit yet, you might want to try a secured card first. This will help you be able to get a regular card after a year or two of making payments on time. A secured card requires a down payment or collateral. Whatever amount you send them is usually your spending limit. As you make your monthly payments to keep that limit up, your score will increase. It may seem like it takes forever, but the rewards are worth it in the end.
Speaking of rewards, if you only plan on having the card for emergencies, rewards plans won’t do you any good. Many rewards plans are seasonal and you have to opt in at each quarter. This can be time consuming and if you forget to do it, the rewards are useless to you. Check carefully before applying for a rewards card that you may not get any true usage out of.
Low interest cards and balance transfer cards should be taken into consideration for those who don’t need flyer miles or rewards. Low interest will keep you in your budget and a good balance transfer card can be helpful when emergencies pop up. Make sure you read the fine print. You don’t want hidden fees all of a sudden showing up on your bill. That is sure to give you an apoplexy when you open it.
Cash back cards are quickly becoming one of the most popular cards out there. After all, who wouldn’t want money back for spending money. If you have a good card that gives you cash back, you will save a lot more money.
Where Can I Find Credit Cards?
NerdWallet allows you to compare credit cards and find the best fit for you. Whether it is a rewards card, cash back, low interest or cards for low or bad credit, they can help find the card you need. NerdWallet is rapidly becoming a household name in saving money. It is a company that is dedicated to helping people keep on their budgets.
Search on NerdWallet to find your needed card! You may also look at your bank institution as they may have special offers for cards! Businesses in your area may offer deals during the week as well.
By doing research, you too can choose the right credit card. Just remember to always pay back on time!