Choosing the best credit card

Choosing the best credit card depend on your requirement.

• Do you expect to pay your monthly bills in full or just minimum payment?
• Carry over payments for a long term or short term?
• Take cash advance?

Depending on these requirements you make a comparison checklist on different credit card available in the market. Below you will find few checklist, consider the factors which will affect you and choose the best credit card in the market.

Checklist

1. APR for purchases
2. APR for cash advance
3. APR for balance transfer
4. Any annual fees
5. Late payment fees
6. Over the credit limit fees
7. Activation fees
8. Supplementary card fees
9. Card Credit replacement fees
10. Card Credit cancellation fees
11. Credit Shield / Insurance charges (can it be wavered off)
12. Interest calculation method - fixed, variable, reducing
13. Bill generation date. Are there more than one bill generation date and if yes can customer choose his bill date according to his convenience for payment date
14. Payment due date
15. Credit limit - option to increase or decrease limit
16. Supplementary card credit limit - can it be variable
17. Cash Advance limit
18. Bill cycle - single or double - Payment grace period
19. Type of card - travel card, standard, gold, platinum, VIP card etc
20. Offers - air miles, cash back, discount vouchers, movie tickets, VIP lounge facility etc
    

Make a clear comparison on the above card features along with available repayment facilities, customer support services, net banking options and ease of use.