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When you hear your best friend or sibling tell you that he or she has landed on the best credit card deal, do not be tempted to run out there to apply for the same credit card for yourself. What may be best for another may not be for you. The reason for the above is simple – your spending tendency, needs and wants are not the same as another´s. You might be wondering what your needs and wants have to do with a credit card but it is important to emphasize here that a credit card is all about your expenditure patterns, needs and desires.


Considering the following before searching for a credit card will help you identify the best credit card deal:

Credit history
No credit history

* Your concern is to build good credit
history.
* If you think you may not use the credit card responsibly and get yourself into financial trouble, you may want to consider getting either a secured credit card or a charge card. Use them for about a year to build a good credit history and then proceed to obtain a general credit card when you are more confident.

Bad credit history

* You should look into getting a secured credit card for about a year to rebuild a credit history.

Good credit history

* You have the luxury to get any credit card you want.

Payment patterns

Pay credit card balance fully every month

* Since you don't carry balances on your credit card, you may choose not to worry too much about APR or late charges but focus on other benefits such as rewards program.

Carry balances on credit card regularly

* You need to ensure that the credit card you select charges low APR, late fees and over-the-limit fees.
* Check that the credit card company does not practice the policy of universal default.

Only for emergencies

* Rewards program does not really benefit you.
* You may want to focus on no or little annual fees, interest charges and other rates.

Use regularly to make purchases or pay bills

* Besides low APR, you may want to focus on selecting a card that has a good rewards program suitable for you. You may even earn enough points to earn cahback which can be used to pay your credit card bills.

Wants to be satisfied by credit card

Credit cards come with rewards program and other perks. Suppose you are a frequent flyer, you may want to consider getting an affinity card which is co-issued by an airline that you like. If you like shopping at a particular store, you may want to get a store credit card that provides you with discounts when you shop at that store. Look at your lifestyle and decide if an affinity or store card would benefit you. The best credit card deal is all about you. You can embark on comparing and narrowing down your choices only when you are sure about what you need and want. However, your final choice also requires you to factor in external issues such as the terms, customer support and other charges.
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