Credit Cards: Risk Vs. Reward

- Wednesday, November 28, 2012

It’s possible you’ve heard the saying, “Credit cards are the devil.” However, at times they might be a necessary evil. Unless you have mob connections that only work with cash, you’ll need credit cards to build credit in order to purchase, homes, cars, and other kind of big-ticket items. But if you’re not paying attention, you could accrue some pretty high interest rate fees, late payment fees, and what the credit card companies like to call “maintenance fees” to do, well, basically nothing at all.

The bright side is many credit cards come with rewards. It’s very easy to earn points or a small percentage back on your purchases. It’s all about finding which one is the most compatible to your lifestyle.

There are several sites online that you can use as resources to help you select the right card for you.


This site lets you choose your ideal card based on the rewards you’d like to redeem. Pick your rewards on the left, compare which ones offer the best value, and apply for your credit card.


This site also provides the same functions. You can choose whether you’d rather have a low interest rate, airline cards, cash back rewards, etc.  Go through and compare for the best ratings, then choose your card.


This site helps guide you through the credit card selection process by asking questions leading you to the appropriate answer. Kind of like a “Choose Your Own Adventure” novel for your finances.

Whichever site you choose to utilize, be sure to weigh out all your options and consider your daily lifestyle. Do you travel frequently? Are you visiting the grocery store more than once a week? How often do you fill your gas tank? Evaluate you options before you commit. Happy Spending! 


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