Like more than 80% of the population, I also have a credit card. But unlike many, I settle my credit card bills within the cutoff period and in full. For this reason, the APR has no bearing as far as I’m concerned. What is important to me is the acceptability of the plastic, and the fact that it is devoid of application and annual fees.

Different people have different uses for their credit cards. I intentionally wrote “credit cards” since a number of individuals have more than one.  For me, I use it due the purchasing convenience it provides. I use a plastic, and I only have one, to shop and pay some of my bills. But I settle them immediately through balance transfer. This arrangement allows me to bring a plastic in lieu of cash, which is very convenient. Ok, I do carry a few small bills for tips.

For others, a credit card provides fast access to credit. You may use it up to its credit limit. For this reason, the upper limit is crucial to these individuals. Some people rely on their plastics when making payments and purchases while on travel. And there are cards with offers directed towards these.

But regardless of our purpose, the fact remains that credit cards are necessary because they help build our credit history. And since the majority of use will be obtaining some form of financing within our lifetime, a credit history, which will determine our credit score, is important.

The market provides a multitude of card options. It is important not to be swayed by offerings, which may end up not being useful. Know your needs and get a plastic that best satisfies them. And when choosing a card, go to online sites that facilitate the comparison of their features.