Online credit card applications - finding the best credit cards for your needs

When you search online for 'credit card applications' the number of choices can seem quite overwhelming - so how do you find the best card for your needs? To help you we've outline the main things to consider before you apply.

We all need a credit card even if we only use it occasionally in a case of emergency. Having a credit card with you means that you can always fall back on it if you have to. So finding the right one is the key to having peace of mind. There is nothing worse than being stuck somewhere with no cash to hand, an example of this is if you break down in your car and need to get it towed back to a garage to have it repaired. Credit cards are great for situations like this but they are also a wonderful way of buying what we really need and then have a little time to pay for the purchases.

Online credit card applications are the perfect solution to find the best credit cards, but there are a few things to consider before you even begin your search on the Internet. The first and most important thing you should do is plan your credit card application by comparing the different cards which are available to you. This involves looking at the interest rates that apply to them. You should be aware that these rates may change over the course of your agreement. Make sure you know all there is to know about this when you apply for a credit card to avoid any nasty surprises later on which may lead to any financial difficulties.

If you have a bad credit rating there are cards which will be available to you. There is no need to worry too much about not being able to find a suitable credit card which may mean you pay a lot less on your monthly bills.

Comparing credit card applications

When comparing different cards, there are some common features to look for. Clearly you should look at the interest rates that apply for each card, which may change over the course of your agreement. For example, the rate may be low for an introductory period on balance transfers and/or purchases; then a variable interest rate may apply once this period is over. Other features to look out for include rewards, cashback and charity benefits - these can more attractive if you're less focused on the interest rate. If you've had problems with bad credit a credit builder card may be an option.

Before applying for credit card - think about how will you use your card?

Choosing the right card can make a big difference to your credit card bills. If you have an outstanding debt, transferring it to a card with a special low or 0% balance transfer may be an attractive option. Perhaps you're applying for a credit card; because you want to transfer a balance and make purchases? Or if you only occasionally pay interest, you may be looking for a more competitive variable rate.

When considering your credit card applications, the main features to compare are:

  • Balance transfer

    Make sure you are being offered 0% balance transfers or a low introductory rate. This period can vary from between 6 and 16 months. This is an incentive for you to transfer your balance from an existing card to the new one as your monthly credit card bills will be substantially reduced.

  • Purchases

    A lot of credit card applications will offer you introductory rates on purchases. This means you will get cheaper credit at the beginning of your card agreement so you will be able to benefit from making important purchases and enjoy a far lower interest rate on your account.

  • Rewards

    There are always 'extras' that your card offers you when you use it. These can include vouchers for leisure attractions and any high street shopping you may wish to do. There are air miles to collect as well as money off your weekly grocery bills which all adds up to some important savings.

  • Typical APR

    This is the rate of interest you will be paying after your initial special or introductory rate has expired and this should be a main consideration for your credit card applications if you think you are unlikely to pay off your credit card every month. When your holiday period of the low introductory or special rate comes to an end, it can sometimes be a little harder to cope with the higher interest rate. Making sure that you are aware of this higher rate is vitally important to how you use your credit card.