Choosing the right credit card is not as simple a process as it may appear as you sort through the stacks of offers you get in the mail. The simple truth is that what you get in the mail may not be the best offer for you.

Sure, they’re preapproved. That actually means very, very little. Preapproved pretty much means they have your name, and might approve you for one of their offers. It’s not a guarantee that you will get the offer mentioned in the ad.

The rates these ads show may or may not mean a lot. The teaser rate is generally temporary, lasting anywhere from a matter of months to a year and a half. It may or may not cover purchases. Often enough these rates are just for balance transfers.

After the teaser rate expires, you’ll be paying a higher rate. Just how much higher depends on what you qualified for, not just what was mentioned in the ad.

If you’re going to be carrying a balance, this rate matters tremendously. It is what the regular cost of the credit card will be to you. A low or zero APR is nice, and you can certainly make more progress on paying off a balance during those times

Points and other rewards can be very tempting. You should try to get them only if it really makes sense for you to do so. Many have higher interest rates, and what you get in rewards simply does not make up for it.

On the other hand, if you aren’t carrying a balance, and want a credit card for the convenience of it, a rewards card makes a lot of sense. You may as well make the most of the money you are spending.

In that case, you want to choose the rewards that will make the most sense for you. Cash, points, travel, gas… whichever you will really appreciate.

Unless you have a particular reason for wanting a given card, it is probably not worth it to pay an annual fee. There are too many great offers out there for this to be necessary for most people.

If you’re serious about getting a new credit card, start checking out the online offers, not just what you get in the mail. The range is much more impressive, you might find something better than what you got in the mail, and applying online is less tedious than filling out a form by hand.

If you’re tired of receiving credit card applications in the mail, in fact, you can request a stop be put to them. You can call 1-888-5-OPTOUT, give your name, phone number and social security number, and get taken off the lists. If that’s not comfortable to you, you can write to the individual credit bureaus and ask to be removed from their marketing lists. These are the places that the credit card issuers get your information to send you all that junk mail in the first place.

Mail your requests to:

Equifax, Inc.
Options
PO Box 740123
Atlanta, GA 30374-0123

Experian
Consumer Opt-Out
701 Experian Parkway
Allen, TX 75013

TransUnion
Marketing List Opt Out
PO Box 97328
Jackson, MS 39288-7328

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