If you need help managing your finances, there are many credit and charge card products available to make it easy and convenient. To get the most benefit though, when you apply for a credit card you must choose a card that will fit your individual needs.

Your credit score and how you pay your balances (in full each month, or rolling them over) are things to take into consideration. Other factors include how much traveling you do and if you frequent particular stores and purchase specific brands on a regular basis.

By considering these points, you will better learn what the best credit cards to serve your needs are. Life changing events (marriage, children, school) can have an impact on how you use your card. You may need to change the way you are using your current card, get a different one, or use a combination of cards. The important thing is that the card fits your lifestyle.

This is a common goal among credit card companies. They offer a wide range of programs to fit just about any need. All you need to do is decide what you will use the card for. It is all about personal preference.

Take a Close Look at Your Spending Patterns

The first thing to do when selecting the best card for you is to look at your spending and payment habits. This will determine how you’re spending money, and where you’re spending money. To begin, go back at least one year and gather your bank and credit/charge card statements. Then, using the categories of fixed expenses, variable expenses and optional expenses, write down what you spent in each category.

Then write down how each item was paid for - cash, credit, debit or charge. Also make note of whether you made full payments or partial payments.

There are also computer-based programs available for this purpose. Quicken or Money can download your financial information directly from your bank and credit card companies. Whether you do this on the computer or using pen and paper, the important part is that you have a plan in place for identifying your spending patterns.

The Difference Between Credit and Charge Cards

The terms credit card and charge card are used interchangeably at times, but there are differences between them.

With a credit card, you make a purchase and you are billed later. You can usually carry a balance from one billing cycle to the next. The minimum amount due each month is usually 2.5-5% of the balance.

If you pay the balance in full by the due date, no interest will be charged. However, you will have to pay interest (currently the average APR is 18%) on partial payments or no payments.

With charge cards, you must pay the balance in full each month. If you don’t pay it in full (unless the charges are travel expenses or American Express) you are allowed a one-month grace period. After that period is over, you will be charged an interest rate of 18 percent. If your account is not paid after three months, it will be closed and your bill will be sent for collection.

Finding the Right Match for You

Once the above-mentioned process is complete, the next thing to do is analyze the results. You most likely will notice patterns in the way you spend money. After this has been reviewed, you now need to match your spending habits with the features that are found on the best reward credit cards.

If you have bad credit history (or no credit history), your options might be limited to a secured credit card that requires collateral such as cash, a car, jewelry, or basically anything with monetary value. There are available great cards for no credit. They show banking institutions that you are serious about developing good spending habits. These cards are also easier to obtain then an unsecured credit card with for credit because the terms and conditions are better.

If you are the one that pays your full balance each month to avoid the interest charges, then fill out a credit card application for a credit card with no annual fee. Look for a long grace period, a charge card or a pre-paid credit card. All of these factors will help you to avoid finance charges. If you carry a monthly balance, look for a low APR credit card.

There are cards that offer rebates, discounts and points towards merchandise. These are ideal for the people that pay off their balance each month and have good credit. As an example, a card may give the purchaser 1 percent back in the form of a check or a gift certificate after they’ve spent a certain amount of money. These are cash rewards credit cards. Some cards will send a cash rebate directly to the card. Frequent travelers will benefit the most from hotel credit cards or airline miles credit cards.

There is something for everyone. Whether you have young children, are a sports fan, or an avid traveler, no doubt you will be able to find the best credit card rewards program for you.

If you have been loyal to a certain brand, it would be wise to search for a card that will reward you for it. If you drive a lot, fill out a gas credit card application. There are also retail credit cards, credit cards for students & small business credit cards.

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