PERSONAL FINANCE BLOG

Money shouldn´t stop making your plans come true. Learn how personal loans can help you!
Best Credit Cards Strategies For Beginners
31 Jul 2018

Strategies For Beginners: How To Find The Best Credit Cards

If you’ve never had a credit card before but now you’re planning on getting one, you may be wondering how to know which are the best credit cards and what are the best strategies for using them to the fullest possible benefit.

Below, we’ll look at how to identify your best card offer and then at some helpful tips for using your new card wisely.

How To Identify The Best Credit Cards

There are so many different features and factors to consider when applying for a credit card that the process can seem a bit bewildering, especially for a newcomer to the credit card world.

A systematic approach to identifying which are the best credit cards that fit your needs and preferences is in order. What’s the best card for one may not be for someone else, and not all card offers are available to all applicants. So you have to start by examining the cards you qualify for and by searching the vast number of offers online according to your desired features.

Bonsai Finance enables you to do just that with ease and in very little time. The process would be extremely slow and tedious if you had to look up one offer at a time. But Bonsai’s search engine sifts through the options at rapid pace, bringing you nearly instantaneous results.

But which factors should you plug in as search criteria? Here are some ideas:

  • No annual fee, or a very low annual fee.
  • Low late fees and cash withdrawal fees.
  • No or low foreign transaction fees.
  • As low an APR as possible.
  • Ability to avoid interest by paying in full each month.
  • No security deposit required, or a lower deposit required.
  • A higher credit limit.
  • Regular reporting to 1, 2, or all 3 major credit bureaus.
  • Faster rate decreases, credit line increases, or graduation from secured to unsecured card with on-time payments.
  • Perks such as cash back percentages, frequent flyer miles, discounts at certain retailers/restaurants, or bonuses for good grades on some student credit cards.

Which features are more important to you will vary based on your situation and on how you plan to use the card. But the above-listed features are the most common concerns of new card holders.

How To Use Your New Credit Card Wisely

Setting criteria for you “ideal” credit card, finding it through Bonsai Finance’s search engine, applying for it, and getting the new card in the mail is just the beginning.

Even before you have your card in hand, it’s time to think about strategies that will help you use it more wisely. A new credit card can be a great convenience, tide you over in tough times, get you some points, perks, and rewards, and help improve your credit score.  But getting sunk in credit card debt is never fun either – so here are some credit card tips to keep in mind:

  • Try to never reach near the top of your credit limit since that hurts your credit score.
  • Pay the card off in full each month as a rule. If you can’t, still pay more than the minimum. And even if you have to borrow money from a friend, pay at least the minimum.
  • Don’t be afraid to ask for a credit limit increase, especially if your income has increased since you first got the card.
  • Maximize cash back by making regular use of the card, but don’t spend more than you would if you had used debit/check/cash.

At Bonsai Finance, we can help you locate the very best credit cards offers that are fast and easy to apply for. We can help beginners, those with poor credit, and everyone else find an ideal card. We simplify the process and optimize results!