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Choosing A New Credit Card 1. Choosing A new credit card There are many reasons for choosing a new credit card. It may be your first card or you may wish to reduce the amount of interest you're paying each month or if you're lucky enough to pay off your balance each month you may wish to take advantage of one of the many reward schemes around. To help you choose we have compiled a set of questions and answers. One thing to consider is that you need more than one new card. For example if you have an outstanding balance and use still make purchases you should consider switching to a balance transfer card for the outstanding balance and a seperate card for the ongoing purchases. This is provided you pay off the ongoing purchases of course. 2. What To Ask - Standard Questions Scenario : You pay off your existing balance each month Solution : Choose a reward scheme card. These will either pay be cash or may be points that can be used to purchase certain products. Scenario : You have an outstanding balance but still make ongoing purchases Solution : Transfer the existing balance to 0% balance transfer card and at the same time get an introductory purchase offer card. This way you can allow the introductory purchase card balance to build up, while you pay off the balance transfer card. You need to be very disciplined with approach though. If you have taken up a balance transfer then try to avoid new
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