2005-04-07 / Business & Finance

Credit Card Dilemma: Which Is Right For You?

Credit Card Dilemma: Which Is Right For You?

Credit cards have become an everyday part of American life. For many people, pulling out the plastic at the register has become the preferred payment method.

As credit has become more prevalent so has the number of different cards available. When looking for a new credit card, today's consumers face a variety of different card programs, making choosing the right card a daunting task.

To assist consumers in the credit card comparison and evaluation pro-cess, the consumer education organization Myvesta has recently launched a new credit card section on their Web site.

The new section, available online at Myvesta.org/cards, contains credit card comparison tools which enable consumers to search and compare cre-dit cards based on interest rates, fees, rewards and types of cards. A credit education section containing free publications, credit card definitions and tips on using credit is also available.

"Whether you have a perfect credit history or are looking to rebuild your credit after having past mistakes, deciding which card to use is a vital part of property managing your fin-ances," said Steve Rhode, president of Myvesta. "Most people aren't fully aware of the different types of cards that are available. By being able to compare different card offers and weigh the pros and cons of each card, you can make an educated decision on which card is best for you."

According to Rhode, people often make the mistake of shopping for credit cards by only looking for the cards with the lowest interest rate.

"If you're the type of person who uses your card for all your purchases and you pay off the balance every month, look around for a credit card that offers a reward program you will actually use," Rhode says. "Don't decide on interest rates alone, every card has a zero percent interest rate if you pay the balance off in full every month."

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