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You’ve finally come to that phase in life when you can afford to own a credit card , not as a supplementary card holder but as the principal card holder. Finally, you’ve earned the right to have a credit card in your own name and are prepared to purchase whatever you want without having to ask permission from anyone. But now that that time has arrived, you find yourself in a problem – what kind of credit card should you apply for? There are two choices available to you – a credit card that provides rewards, against one that doesn’t. Non-Reward Credit Cards These credit cards do not provide you with any reward points or incentives regardless of the number of times you use your credit card. Instead, such credit cards allow you to waive interest charges for a specific period of time or benefit from lower interest rates than those provided by reward credit card . Essentially, there are two choices that you’re given in terms of a non-reward credit card. The first one is a credit card that offers 0% APR introductory rates. When you apply for this type of credit card, you will be capable of purchasing anything without having to worry about high interest rates. But the 0% APR is only applicable for a certain period as it is an introductory offer. Once it’s over, the APR will go back to normal. The second kind of non-reward credit card is the low interest, ongoing APR credit card. Even though it is not 0%, the interest rate may be lower than what the new APR would be for a credit card with 0% APR introductory rate. The Reward Type of Credit Card If you do not find yourself tempted by low interest rates offered by non-reward cards, then the other option is to opt for credit card offering rewards. With this type of credit card, the interest charge is actually higher. However, the appeal of prizes and rewards can take away this sting. With reward kinds of credit cards, frequency of use and promptness of payment matter to a great extent. There are also a whole variety of rewards being given so you will surely be able to select a reward that you truly desire.
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