Selecting a Credit Card

By Ryan Bayonnet - This lesson explains how to choose the right credit card for your need.


There are dozens of credit card companies and hundreds of individual cards to choose from. It is important to first determine what you are looking for in a credit card before choosing

Credit Score

Before you begin looking for a card, first check your credit score. This will help you determine what credit cards you can qualify for.

Interest Rate

The interest rate is the amount of money a credit card company will charge you at the end of the month on any unpaid balances. When choosing a card, if you are worried that you may not be able to pay off the balance at the end of each month, you may want to look for a card with a low interest.


Some credit cards offer rewards for specific spending categories (i.e. travel, dining, gas). Depending on your spending habits, some cards may offer you larger rewards. Be careful though, many reward cards charge high annual fee to offset these benefits.

Annual Fees

Some credit cards charge annual fees to cardholders. If you are new to credit cards, and do not plan to spend much, you may consider avoiding these cards as you are more than likely not able to offset the benefits they offer.


Every card has their own pros and cons. Make sure you do your research before choosing a card.

What's Next On Credit?

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