Sign up for our FREE Monthly Email Newsletter
In addition to keeping in the financial know, you may be interested in checking your credit score and report.
¹The credit scores provided under the offers described here use the Equifax Credit Score, which is a proprietary credit model developed by Equifax. The Equifax Credit Score and 3-Bureau scores are each based on the Equifax Credit Score model, but calculated using the information in your Equifax, Experian and TransUnion credit files. The Equifax Credit Score is intended for your own educational use. It is also commercially available to third parties along with numerous other credit scores and models in the marketplace. Please keep in mind third parties are likely to use a different score when evaluating your creditworthiness. Also, third parties will take into consideration items other than your credit score or information found in your credit file, such as your income.
²The Automatic Fraud Alert feature is made available to consumers by Equifax Information Services LLC and fulfilled on its behalf by Equifax Consumer Services LLC.
³Equifax Credit Report Control™ is only available while you have a current subscription to Equifax Complete Premier. Locking your credit file with Equifax Credit Report Control will prevent access to your Equifax credit file by certain third parties, such as credit grantors or other companies and agencies. Credit Report Control will not prevent access to your credit file at any other credit reporting agency, and will not prevent access to your Equifax credit file by companies like Equifax Personal Solutions which provide you with access to your credit report or credit score or monitor your credit file; Federal, state and local government agencies; companies reviewing your application for employment; companies that have a current account or relationship with you, and collection agencies acting on behalf of those whom you owe; for fraud detection and prevention purposes; and companies that wish to make pre-approved offers of credit or insurance to you. To opt out of such pre-approved offers, visit www.optoutprescreen.com/.
4We will require you to provide your payment information when you sign up and we will immediately charge your card $4.95. After that, we will charge the card $19.95 for each month you continue your subscription. You may cancel at any time; however, we do not provide partial month refunds.
Equifax® is a registered trademark and Equifax Complete™ Premier is a trademark of Equifax, Inc. © 2014, Equifax Inc., Atlanta, Georgia. All rights reserved.
Most people shop around for the best price on clothes, electronics, and airline tickets. But when it comes to finding the best credit card, too often people forget how much they can save by comparison shopping. When it’s time for a new credit card, be sure to look at the costs, terms, and interest rates, which can all make a big difference in how much you pay for the money you charge.
Key factors to consider when shopping for a credit card
Annual percentage rate (APR) — This is the percentage of your balance that you are charged if you do not pay off your balance in full each statement period. This rate may vary for different types of transactions. For example, you may be charged one rate for purchases and a different interest rate for cash advances.
Finance charge — This is the amount you will be charged to use credit. It is calculated based on your outstanding balance and the APR.
Annual fee — This is the fee you are charged once per year for the privilege of having a credit card. Some cards do not charge annual fees.
Grace period — This isthe number of days between the statement date and the payment due date during which you will not incur finance charges.
Incentives — Many cards now offer rebates, awards, and other incentives to encourage you to sign up for and continue using a particular card. Some credit card companies also have reward programs that allow you to earn points for every dollar that you charge. You can redeem those points at online stores or airlines, and you may also be able to exchange them for cash back.
Credit limit — Most credit card companies offer low credit limits to start. The average credit limit is about $2,500 for a person with a good credit history.
Other factors and fees — You will want to know what the policies are on issues like late payments, over-limit fees, and cash advances. Some of these items will result in additional charges on your credit accounts while others may impact your interest rate.
Choose what’s right for you
If you don’t regularly pay off your balance, you will likely want a credit card with a lower APR. If you do pay your balances regularly, you may want a card with no annual fee or one with an appealing reward program. Evaluate all of the factors listed above to determine the best credit card for your needs.
Credit Card Shopping Rises for the Holidays
6 Ways To Prevent Identity Theft
Becoming a Victim of Identity Theft: How It Happens
Credit Trends: Mortgages and New Credit Cards
Money Management Tips: Choosing the Right Savings Account
Money Management Tips: Set Your Savings Priorities
The information contained in this blog post is designed to generally educate and inform visitors to the Equifax Finance Blog. The blog posts do not give, and should not be assumed to provide, personalized tax, investment, real estate, legal, retirement, credit, personal financial, or other professional advice. Before making any financial decision, you should always consult with the appropriate professionals who can explain your options, rights, and legal responsibilities, and advise you on any tax, legal, credit, or business implications that may result from those decisions. The views and opinions expressed by the authors of blog posts are their own views and may not be the views or opinions of Equifax, Inc. and/or its affiliates.
Equifax maintains this interactive forum for education and information purposes in order to allow individuals to share their relevant knowledge and opinions with other members and visitors. We encourage you to participate in discussions about personal finance issues and other topics of interest to this community, but please read our commenting guidelines first. Equifax reserves the right to monitor postings to the forum and comments will be published at our discretion. Do you have questions or comments about your Equifax credit report or customer-service issues regarding an Equifax product? If so, please contact Equifax directly. All opinions and information expressed or shared in blog comments are solely those of the person submitting the comments, and don't necessarily represent the views of Equifax or its management.