Below, Select reviews three simple steps you can follow to choose the credit tease that provides you with the most benefit. Are you a small business owner? Check out how to choose a business credit card .
How to choose the best credit card
- Check your credit score and credit report
- Decide which type of credit card suits your needs
- Shop around for the best credit card offers
1. Check you credit score and credit report
The first step is to check your credit seduce and accredit report. There are numerous free resources available, such as CreditWise from Capital One and Discover Credit Scorecard, where you can check your credit grudge. Plus many of these services offer insight into factors that affect your credit and offer advice on how to improve it. You do n’t have to be a customer of Discover or Capital One to use these services. credit score ranges vary by credit scoring model ( FICO or VantageScore ), but creditors use FICO Scores in 90 % of U.S. lend decisions, so we listed those ranges below. FICO Score ranges
- Very poor: 300 to 579
- Fair: 580 to 669
- Good: 670 to 739
- Very good: 740 to 799
- Excellent: 800 to 850
once you know what range you fall in, you can use that data to fine-tune your credit rating circuit board search. Consider cards that require credit equal to or less than yours. If you have beneficial credit, consider cards that state of matter estimable or fairly credit requirements. evening if your credit score falls within the good range that does n’t guarantee you ‘ll be approved for a credit batting order requiring good credit. Card issuers look at more factors than just your credit score, including income and monthly housing payments.
2. Decide which type of credit card suits your needs
3. Shop around for the best credit card offers
once you ‘ve decided which character of credit batting order meets your needs, it ‘s time to shop around for the best credit wag offers. Consider bonus categories for rewards cards, distance of intro period for 0 % APR cards and recognition tools for cards that help you build credit. Plus do n’t forget to factor in fees and interest rates into your decision. That includes annual fees, foreign transaction fees former requital fees and APRs. If you have trouble choosing one circuit board, consider submitting a pre-qualification shape on-line to see whether you may qualify. You can submit multiple pre-qualification requests without any damage to your credit grudge, since it involves a soft pull of your accredit — which does n’t hurt your accredit sexual conquest. Be mindful that pre-qualification is n’t a guarantee you ‘ll be approved for the card and submitting an application affects your credit score. If you pre-qualify for one credit wag and not another, that can be a good indication of which tease to apply for. Learn more: 5 questions to ask yourself if you’re unsure about applying for a new credit card
Take Select’s quiz to find the right card
information about the Citi Rewards+℠ Student Card, and Capital One Venture Rewards Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the cards prior to publication. For rates and fees of the Discover it® Cash Back, snap hera.
For rates and fees of the Discover it® Secured Card, cluck here. Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select column staff ’ randomness alone, and have not been reviewed, approved or otherwise endorsed by any third base party .