With so many different options for credit cards at our fingertips, we tend to drift toward the piece of plastic that describes us best. As we go through the spectrum of “credited” personalities, you may find yourself among this list and gain a better understanding of your financial decision patterns and what they say about you.
For the financially responsible: Someone that is extremely cautious and conscious of their purchases, carries a hand-written pad with documented expenditures, and values the concept of interest is what we like to call “the manager.”
It takes a lot of effort, self-control, and financial wisdom to keep up with your credit on a daily basis and most of us don’t, so we praise those that are worthy of the cash back credit cards like the Discover It card. With no annual fee and a dollar-for-dollar match of cash earned in the first year, this credit card makes managing your credit as simple as can be.
It takes a little while to understand the specifics of credit, the importance of being punctual when paying bills, and the potential consequences for neglecting certain responsibilities; all things one should grasp before taking such a step.
Generally, when committing to the idea of credit, the “beginner” will be advised to invest in a prepaid card as they start building their credit; this will generally range from $500- $1,000 and presents the opportunity to avoid debt starting off. Depending on your bank, discuss your options for a prepaid credit to start building this essential component of life today.
Big spender, big spender; we all know the type that feels quite secure in their ability to spend loads of money on their credit card just because they can. Although this sounds like a horrible idea, if the particular individual happens to possess the common sense to pay these big disbursements off immediately, this is a sure-fire way to build excellent credit quickly.
People of this nature usually look for a card that offers an exceptional cash-back deal like the Chase Freedom card.
The “saver” and the “planner” are similar in concept, but the saver tends to be more interested in the future investments rather than the instant gratification of cash back points and rewards.
With the longest 0% APR in the business and no rewards, the Citi Simplicity Card is most likely your best bet.
A huge part of this market is for students, considering the hefty sums that can be acquired through tuition, the cost of books and interest piled on top of student debt; this is why there is the 529 Program option.
This tax-free system allows options similar to cash back points, but instead of cash back, the rebates you receive feed directly into college savings plans.
One awesome perk of certain credit cards, like the Capital One VentureOne, is that you get points toward mileage that can really come in handy for those that travel often for work or lead vagabond lives.
Through particular purchases on specific cards, miles can be gained per steal and racked up to take card users anywhere and everywhere in the world. Capital One is the poster child of “mile-friendly” credit cards with familiar faces like Jennifer Garner and Alec Baldwin; you know the commercials we’re talking about.
Depending on your subconscious tendencies, you could be one of the mentioned creditors or spend to the beat of your own drum, but either way, it is important to be realistic about your spending habits and choose a card that will compliment these indulgences.