Choosing the right credit card can be a daunting task, with so many options available. How do you know what to look for, what benefits might you want? This blog post helps walk you through card options and what to compare to get the perfect card for your needs.

Which Credit Card is Right for You?

The best credit card for you will depend on your individual needs and spending habits. There are several factors to consider when shopping for the right card for you. Let’s explore some features and benefits of credit cards.

Annual Percentage Rate (APR): The APR is what you will be charged on your outstanding balance. It is important to review rates prior to choosing a card so that you can save money on interest charges.

Credit limit: Your credit limit is the maximum amount of credit that you can be approved for. It is important to choose a card with a credit limit that is high enough to meet your needs.

Terms and conditions: Be sure to read the terms and conditions of any credit card before you apply. This will help you understand the fees, interest rates, and other important details of the card.

Perks & Points: Some credit cards come with the ability to gain points or other perks. Do your research on different categories to earn perks in and see what benefits best fit your lifestyle. Some common perks include:

• Cash back rewards
• Points for travel – flights, hotels, cars
• Rental car insurance
• Exclusive pricing on entertainment

Common categories to earn perks include:

• Gas
• Groceries
• Dining
• Travel
• All purchases

Annual Fee: Credit cards can sometimes charge an annual fee. Take a close look at your disclosures to see if there are fees associated with your card. Depending on your spending habits and the perks you get for using the card, you may decide the fee is worthwhile.

Choosing the right credit card can be a big decision. By taking the time to consider your needs and compare your options, you can find a card that will help you reach your financial goals.

Additional Tips

1. Be sure to shop around and compare different credit cards before you apply.
2. Pay your credit card bill in full and on time each month to avoid interest charges.
3. Use your credit card responsibly and only charge what you can afford to pay back.
4. By following these tips, you can make the most of your credit card and avoid getting into debt.

Choosing Your Card

Picking the right card for your needs is a personal preference. Your spending habits and goals can help you determine what card is right for you. No matter what card you choose, if used wisely, can help establish credit. MidWestOne offers two great credit cards with our ScoreCard Rewards Credit Card and our Classic Card - check them out and see if they'll work for you!