Best Credit Card of All Time

A Credit Article Contributed by Lilly Allison

I'm dreaming of the best credit card

The best credit card of all would have no interest, no late fees, and pay you cash back from everything you bought. Maybe it would even let you skip a payment now and then, especially around holidays and birthdays. It would also be customized to chose the pictures you want on it, in the colors you choose.

In reality, the closest you can come to the best credit card would be no annual fee and as close to 0% financing as possible. Sometimes a company may throw in some perks to make it more appealing, but the reality is, if you aren't going to pay off your credit card every month, go for the lowest interest possible. Lowcards.com offers a comparison chart that helps you determine which company is offering the best deals right now.

The Best Credit Card Options

Researching credit card options will allow you to get the best credit card for you. When applying, you want to look at the APR or Annual Percentage Rate. This is the cost of credit at a yearly rate. This information must be disclosed on credit card applications by law. The periodic rate must also be in writing, as this applies to your outstanding balance and finance charges. Finding the best credit card takes time, but it's worth the work to pay less interest.

Information on the Best Credit Card

Besides the percentage rates, study how long the grace period (the free period that allows you to pay your balance in full without finance charges.) They must allow at least 14 days. Also see if the card has an annual fee, and what it costs. There are lots of free cards, but some charge $75 or more annual fees. Transaction fees and other charges should also be investigated. Read if cash advances, going over your credit limit or usage fees are added to your card, and be sure to read the fine print.

Shopping for the Best Credit Card

Look for the right plan for your needs. Make sure you understand what will be charged to your account. Several companies offer low to no interest on balance transfers, and 3.9% on new purchases. It pays to shop around for credit cards. When applying online, always use a secure site. If you are faxing, file or shred any written information to protect your credit history.

Best Credit Card Perks

"Affinity cards" offer to donate a portion of the fees or charges to non-profit organizations such as colleges and universities, or in bonuses for you, such as in travel discounts or for retail coupons or frequent buyer bonuses. Some cards offer airline miles as well, though they often carry an annual fee.

While the perfect credit card may not exist, there are plenty of options available to find the best credit card for you. If you plan to pay off your card every month, then go for the perks and have a good time!