Selecting the right credit card is an important financial decision that deserves careful consideration. As your community banking partner, we're here to guide you through the process of finding a card that best suits your unique needs and financial goals.
A credit card is a powerful financial tool when used responsibly. Here's what you need to know:
If you plan to carry a balance on your credit card, the Annual Percentage Rate (APR) becomes a crucial factor in your decision. The APR represents the yearly cost of borrowing and helps you compare different credit card offers effectively.
Key Terms to Know
Your credit history and score are crucial for credit card approval:
First-time users may have limited options due to lack of credit history:
Be aware: Account actions (positive or negative) affect your credit.
Before applying for a credit card, it's essential to reflect on your financial habits and objectives. Consider the following questions:
Your answers to these questions will help steer you to the most suitable credit card options.
Credit cards come in various forms designed to serve different purposes:
These cards operate on major networks like Mastercard, Visa, American Express, and Discover. They offer flexibility in where you can use them and typically come with a preset spending limit based on your credit history.
Examples of American Riviera Bank Traditional Credit Cards1:
Ideal for those building or rebuilding credit, secured cards require a deposit that serves as collateral and usually equals your credit limit.
Examples of American Riviera Bank Secured Credit Cards:
Application process:
Credit cards aren't always the best choice. Debit cards offer many of the same perks, like cash-back rewards and fraud protection, without the risk of harming your credit score. For that reason, it is important to understand your reasons for applying for a credit card. If you are just looking for convenience, a debit card is often the better choice.
Check out our card picker! It will walk you through easy steps to help you pick the best card for you.
Remember, choosing the right credit card is an important step in managing your financial health. We're here to support you every step of the way, ensuring that you have the tools and knowledge to make the best choice for your needs.
For more information or to discuss your credit card options, please visit one of our branches or contact one of our banking experts. We're committed to helping you navigate your financial journey with confidence.
1. The creditor and issuer of these cards is Elan Financial Services, pursuant to separate licenses from Visa U.S.A. Inc., and Mastercard International Incorporated. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
