Do a credit card comparison to find the best credit cards

To find the best credit cards, you must do a credit card comparison, looking at not just the interest rates, but also at all the terms and conditions imposed by the lenders.

This is a completely free service and, used properly, it allows you to identify the best credit cards for your particular financial needs. Once you have made your choice, fill in the credit card application and, subject to the bank's approval, you will be using your new credit cards in a few days.

Credit Cards Types

1) Low Interest Credit Card

In an ideal world, we would pay cash for all our needs but that would mean waiting. So cheap credit cards allow us to buy today and pay tomorrow. To get the best deal, it's always best to pay off as much as possible each month. Simply paying the minimum means paying more interest and, even at a low rate, this makes everything more expensive. Used wisely, low interest credit cards are a wonderful invention!

2) Low Introductory Rate Credit Card

If you know a big purchase is coming up, it's worth applying for a new credit card. Many issuers offer 0 APR credit cards or low interest for an introductory period — usually between six and eighteen months. This means you will have the advantage of cheap credit for the big purchase. Alternatively, buy on your current card and then look for a balance transfer to a 0 APR credit card.

3) Cash Back Credit Card

A cash back credit card works best for people who buy most of their goods and services with a card. The more you use the card, the greater the cash back percentage payments into your account. But if you mainly use your credit cards for cash withdrawals through an ATM, no cash percentage is refunded and you get no benefit.

4) Balance Transfer Credit Card

If you have a large balance on credit cards with high interest rates, you will benefit by applying for and using a balance transfer credit card with a low introductory interest rate. For whatever the period of low rate, you will make significant savings. But, to keep the benefit, ensure you follow all the terms and conditions.

5) Gas Rebate Credit Card

To get the best credit cards with a gas rebate, check out the terms and conditions. Look for the cards giving a rebate on all the main brands of gas through all the filling stations where you pay using credit cards. If the interest rate is slightly higher, check you buy enough gas to make the switch worthwhile.

6) Credit Card Deals

When you look at all the credit card offers, you realize there are as many deals on offer as there are card issuers. But, to get the best credit card offers, you must do some work to compare the different offers. Don't choose just on the basis of the interest rate, look at all the terms and conditions.

7) Airline Miles / Rewards Points Credit Card

Every rewards credit card gives you points on your purchases. You can redeem these as air miles, or for goods and services offered by the card issuers. So look at how often you travel by air and at the other goods and services on offer. Accept the credit card offers with the rewards that are the most use to you.

8) Student Credit Card

All credit card issuers want to lock in your loyalty early so, as a student, you will find a number of credit card offers aimed at you. Remember your credit history as a student feeds into your credit score as an adult so use the cards wisely. Read the offers carefully to find the best credit card deal for you.

9) Business Credit Card

Established businesses with a good credit record never have a problem in getting business credit cards. But it's more challenging for start-ups. It may be necessary to start with a debit credit card to build up a credit history and then move on to a full business credit card. Talk through the options with your bank account manager.

10) Bad Credit Cards

Getting unsecured credit cards for bad credit risks is more difficult in these difficult economic times. If you have no credit history or a low score, you may have to get a debit card first to build up a history of responsible financial management. Once you have proved yourself, banks will issue credit cards.

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