Compare Credit Cards

Compare Credit Cards with Financer.com

At Financer.com we want to offer you financial solutions that will improve your financial future.

Because of this, we help you find credit card offers that are most advantageous for general consumers when it comes to staying out of debt.

Take a look at our offers above and compare to see which offer is the best fit for you.

Types of Credit Cards

Standard credit cards usually offer no benefits or rewards. On the upside, they are very easy to understand and straightforward to use.

Choose this type of credit card if you are not interested in earning rewards.

SoFi® Credit Card

• No annual fee
• No foreign transaction fees
• 12.99% APR

SoFi® Credit Card

See offer

Balance transfer credit cards come with the ability to transfer balances. They offer a low introductory rate on balance transfers for a certain period of time.

Balance transfer credit cards are a good option if you want to save money on a high-interest rate balance on an existing card.

Rewards credit cards are pretty self-explanatory and there are three basic types of rewards cards: points, cashback, and travel. Some people prefer the flexibility of cashback rewards, while frequent travelers like to use travel rewards cards.

Secured credit cards are ideal for borrowers who don’t have a credit history, or who have a damaged credit history. Secured credit cards require a security deposit to be placed on the card and your credit limit will usually be equal to this amount.

Business credit cards are aimed specifically for business use and they offer business owners an easy way of keeping their personal and business transactions separate.

When applying for a business credit card, your personal credit history is considered as you will be held accountable for the balance.

How Do Credit Cards Affect Your Credit Score?

The average American carries four credit cards. However, this doesn’t mean that four credit cards are ideal.

In fact, you might be shocked to learn that you technically need to have 21 lines of credit open to hit the perfect 850 FICO score.

Lenders will use your FICO scores along with other criteria to assess credit risk and determine whether to extend credit to you.

FICO scores use data in five different areas to determine a borrower’s creditworthiness: payment history, current level of indebtedness, types of credit used, length of credit history, and new credit accounts.

FICO^® Scores Explained:

In many cases, opening a new credit card can actually boost your current FICO score overall, some more than others.

There are many reasons for this, but basically, if you can show creditors that you can successfully manage large lines of credit, they consider you trustworthy.

This behavior is viewed as a positive to other lenders who are willing to now work with you more because you display a healthy relationship with managing money.

The Risks of Having a Credit Card

There is always a risk when opening up new credit cards. If you overextend yourself and are unable to pay down your new credit limits, you may find yourself in a problematic debt cycle.

A debt cycle where you are unable to pay your bills will be detrimental to your credit score.

Any new credit card applications will cause a hard inquiry, which might negatively impact your credit score by 1-4 points. However, for the general population, the upside HEAVILY outweighs the downside.

Approval means access to more credit, which in turn means a higher credit score overall. Typically people don’t notice too much of a credit score hit if they are applying for less than one new card every four months.

• If you do notice a large hit to your credit score, you can generally wait about three months, and your credit score should recover overall if there are no other outside influences.

Sometimes a significant dip in your score can be caused by too many new credit applications. Credit bureaus see too many applications as high risk and assume your creditworthiness is low.

How to Use Your Credit Card

Credit cards are so convenient because they are accepted virtually everywhere and don’t require hitting the ATM or carrying around cash.

Just swipe your card or insert the chip in the card reader, and you’re on your way.

But this swipe-and-go process can also lead you down a dark path of interest-bearing debt.

Using Your Credit Cards Responsibly

Credit cards can be a great benefit to have when you use them correctly. They can earn you free vacations and cash back options, but they can also open a pit of debt that can throw your financial situation for a loop.

Here’s how to use them responsibly:

What to Consider

It’s important to find the best credit card for you. A credit card can be useful and destructive, so before you compare credit card offers, ask yourself these questions:

• Can you limit use to just your daily expenses?
• Are you committed to paying your credit card off each month to avoid interest charges?
• If it’s a variable-rate card, can you afford the constant interest rate fluctuations?
• What credit limit do you need? Use the calculator at Financer.com to compare 40 lenders’ credit limits.

What You Should Know About Credit Cards Rates, Fees and Penalties

Card issuers often find subtle ways to take money from you. Balance transfers and cash advances, while attractive upfront, include fees. Some companies even charge a yearly fee just for having the card.

These fees are part of what allows credit card companies to offer these types of deals. Make sure you weigh out all your options before taking advantage of these and other offers.

You also need to take penalties into consideration when shopping for a credit card. Late on your payment? There’s a penalty. Go over your limit? There’s another penalty.

Each credit card has different penalties, so make sure to review these on the off chance you run into one.

Horizon Gold Card

• Horizon Gold Card with $500 unsecured credit limit
• No credit check needed, Bad credit score accepted
• 0% APR on credit
• One time activation fee: $5. Monthly membership fee: $24.95

Horizon Gold Card

See offer

How to Find The Best Credit Card Rates

Credit card rates can vary greatly between issuers, and the only way to find the best one for you is to shop around. But don’t search at random.

Instead, write down a list of what you need in a credit card and put them in order of importance.

This will help you whittle down the massive list of available credit cards to just a few that offer the best benefits for your situation and help you learn how to compare credit cards.

Here are some of the rates to consider when shopping for a credit card:

• Promotional interest rate
• Fixed interest rate
• Foreign transaction rates
• Balance transfer rates

How Can You Lower the Interest Rate on Your Card?

Since you agreed to the credit card terms, you may have a hard time getting the issuing bank to reduce the interest, but it’s not impossible. Here are a few tips to help drop that interest rate:

• Call your lender and ask for a lower rate.
• Search for new-customer deals for your card and request that rate.
• If all else fails, sign up for a new card with a lower rate and transfer the balance.

Always remember that credit cards are like any other financial service: Everything is negotiable. Don’t be afraid to call your credit card company and ask them to lower your interest or waive an annual fee.

The worst the company can say is “no.” But if you have a steady payment history and have been a customer for a few years, you may be surprised at what you can ask for and receive.