It was the time when credit card options were limited to two or three flags. Today, the products are vast and made available by varied institutions, such as banks and finance, in partnership with networks of retail stores, mileage programs and even supermarkets.
The large amount of offers, however, can hamper your decision on which credit card best for you.
Not to err, you need to analyze items like interest rate charged, annuity, limit, relationship with the bank and benefits that are offered. Read this text and learn how to choose the best credit card for you:
The interest rate charged is an important factor when choosing the best credit card, mainly because although it is always recommended to pay the bill in full, you need to consider partial payment in the event of any unforeseen events.
What you should note at this point is the CET (Total Effective Cost), which is the cost of taking this credit and involves interest, taxes and any other cost to the consumer. The fee is annual and your information is required. Remember that the lower the fee, the less you pay if you delay the payment.
Annuity is another relevant point in your quest for the best credit card. Many products do not charge anything at the time of hiring, but you need to be careful because the value of this fee can be saltier than the financial budget allows from the second year using the product. The Protest Simulator can be useful for analyzing products that offer the best rates and lowest annuities.
The limit you really need
When deciding which credit card is best, many people fall into the trap of only staying within the limit offered. Of course, having a purchasing limit is sufficient for the consumption profile is important, however, choosing a product that offers a limit that is beyond your financial reality can prove to be very dangerous.
The most uncontrolled ones are encouraged by “credit” and begin to spend without thinking about tomorrow. Result: when the invoice arrives they realize that they do not have the money to pay the full amount. Not so much to the sea, not so much to the earth: the best credit card is one that has a limit enough for what you need and at the same time in a value that you can afford.
Relationship with the bank
Already having a relationship with the bank often facilitates the acquisition of the credit card. In addition, it is common for financial institutions to offer various types of advantages to those who are already an old customer, such as free annuity, participation in mileage programs, etc.
When it comes to choosing the best credit card for you it may be worthwhile to look first for your bank. So, be sure to check your bank’s credit card simulators. Here are the main banks: Itaú, Bradesco, Banco do Brasil and Caixa.
Benefits club, mileage system, scoring system, travel assistance … The benefits offered are also essential when choosing the best credit card. Take into consideration your lifestyle to opt for the product that will offer you more advantages to you. If you like to travel, you can choose a card that converts the amount spent in thousands, for example.
Even after finding the best credit card for you, some care in the use of the product is fundamental: avoid making the minimum payment, because even finding an option with more competitive rates, the interest of the card remains the most expensive in the market. Card is not salary extension: use it conscientiously and enjoy!