How-to Find the Perfect Credit Card Opportunity for You

Regardless of whether you have good or bad credit, perfect credit or abysmal credit, there are a wide range of credit cards available that carry a number of positives and negatives. While people with poor credit will have fewer options and generally less attractive benefits to choose from, there are still a number of options. From stellar credit to abominable credit, here is how to find the perfect credit card opportunity for you.

1. Bad credit/ no credit:

Sometimes, having no credit at all can make it as difficult to get a credit card as having bad credit. Getting a store credit card, however, is generally far easier than getting a major credit card. Opening up a store account at a major department store or appliance store can help you build credit if you don’t have any or rebuild credit if you have bad credit. If you really want a major credit card, however, you will probably have to opt for a secured card.

2. Poor credit

For those who just have a few blemishes on their credit reports but don’t have a credit score all the way in the toilet, you can generally get a major credit card but it will come at a cost. In most cases, you will most likely have to pay an annual fee and a fairly high percentage rate on outstanding balances. The trade-off is that if you want a lower APR, you will most likely have to pay a higher annual fee, but if you are going to pay your card off every month and don’t mind a high APR, you can get a card with a low annual fee and sometimes no annual fee.

3. Fair credit

When you have moderate credit, you start to have more options and choices. These include cash back incentives, airline miles and moderate percentage rates on outstanding balances. For fair credit, you will probably pay around a 12-15% APR. You can also quality for credit cards that offer a 0% APR on balance transfers, so if you opened up a credit card account with a high APR to build or rebuild your credit and have some success doing so, then you can apply for a lower interest rate credit card and save some money in interest by transferring your balance to the lower rate card.

4. Good credit

If you have good credit, then the world is your oyster. This can be a hassle in and of itself, however, since there are so many cards to choose from, with so many perks and benefits to each. Airline miles are, of course, one of the more popular benefits you can get by using a credit card, but there is also good news for those who don’t travel much. This year credit card issuers are veering away from luxury perks like airline miles and free hotel stays and focusing more on “bread and butter” perks like higher cash back percentages.