Funding Options

Compare Top Personal and Business Credit Cards

With a wide range of credit cards available from different banks, it often becomes difficult to choose the best one. If you are also facing trouble to decide which credit card to opt for, then don’t worry. Here is a detailed breakdown of every type of card we recommend.

How to Compare Credit Cards

The best way to choose a card that suits your needs best is by comparing:

Annual Percentage Rate (APR)

Annual percentage rate comparison can help you with your decision. It is the interest rate that is applied to your credit card balance. The lower the interest rate, the better it is.  On credit cards you are charged certain amount of interest on both types of transactions: purchase and cash withdrawal.  So if your card has a low APR, this means you will be charged with low interest rate when you make cash withdrawals and purchases.

Read Credit Card Applications Carefully

However, it’s important to read the credit card application thoroughly to find out if the low APR is variable or for an introductory period.  Some banks offer low APR for an introductory period to attract new buyers. And after a year they increase it drastically. While some offer variable APR which is linked with the index rate and is subject to change. This means it can increase and decrease. But usually it is bound to increase. Therefore to be on the safe side, research carefully and then make your decision.

Annual Fee

This is also an important factor that can help you decide which card to choose. Some credit card issuers don’t charge annual fee for a year but after a year they do. Annual fee is usually high on premium cards which also offer you benefits in the form of rewards like travel points, discounts, cash incentives and fuel points. The annual fee is usually above $100. It is a good tradeoff. The best way to make your choice in such a scenario is to compare the annual fee with the perks. If you love travelling, select a card that offers travel rewards and compare it with the annual fee charges. If you think it is a good deal then go for it!

Visit Credit Card Comparison Websites

There are several websites which offer comparison of credit cards. You can log on to any of these websites and compare your options, card by card. The comparison is displayed in a chart form which enables you to compare different factors like interest rate, annual fee and rewards with ease.

Balance Transfer Facility

If you are planning to hold more than two credit cards, then it is important to choose a card that has a balance transfer facility. This service enables you to transfer your balance from one card to the other.