Financial Education

Choose the right credit card: we have some options for you!

Discover the right way to choose a credit card to get the most out of this financial tool!


by José Gonçalo

09/29/2022 | Updated on 11/29/2022

Get the credit card that best fits your needs with easy applications and the best benefits!

Choose a card based on your credit score

Cash back for students with no credit
Up to 10% cashback for bad credit
No fees for good credit
0% intro APR for excellent credit

Indeed, the credit card market has never offered so many options to choose from. Therefore, it is extremely normal for you to doubt which of these to request.

Closeup of the hand of a man in suit marking excellent from a list of the different ranges of the credit score: excellent, good, fair and poor

What are credit scores? An uncomplicated guide

Did you know that your credit score impacts many parts of your financial life? Learn about the different ranges and how you can start improving your credit score!

So, we decided to help you. Next, learn about the card options according to your credit score. Also, know important criteria to consider to make the best choice possible.

How do credit scores work?

A credit score is a number that tells banks and lenders “how good a payer you are”. In effect, this is a number generated from complex calculations that consider your credit usage history.

Thus, factors such as percentage of credit used, time of use of credit services, and responsibility with dates and payments, among others, are considered.

A result is a three-digit number that ranges from 300 to 850. The higher your score, the more likely banks will see you as a good customer.

Thus, credit companies will try to attract you through lower interest rates and exclusive benefits on credit cards, for example.

However, a low credit score can make your relationship with banks difficult. The lower your score, the fewer options, and perks you will have access to.

In effect, this is just a simplified explanation of the basics you need to know about this indicator.

However, in addition to knowing what this number is, it is equally important to know how to interpret it. That’s exactly what we’ll talk about in the next topic!

What are credit score ranges?

Hands holding credit cards
Understand what credit score ranges are and why they are so important. Source: Adobe Stock.

This indicator has been subdivided into bands to facilitate the interpretation of a credit score. Thus, each track was rated between extremes ranging from “poor” to “excellent”.

In fact, this rating will greatly influence the credit card you choose. After all, you depend on that rating to know which cards are available to you.

Fair credit score report with pen and calculator

Credit cards for fair credit: choose the right card for you

If you have a fair credit score, it's important to choose the right credit card. We've compiled a list of six excellent cards that will help improve your credit rating.

You should choose a card based on your credit score: here’s why

Indeed, your credit score is a very important factor for a good credit card choice. Thus, we want to reinforce this concept a lot with you.

After all, your chances of being approved for a credit card created for a credit score higher than yours are almost 0%.

You will only lower your score if you try to apply for a credit service outside your profile. In fact, you can dream of cards with more advantages for your future.

However, for the moment, you need to choose the options that are really available to you. Also, too many applications in a short period of time will often lower your credit score.

For this reason, you cannot apply for multiple cards and expect to be lucky enough to be approved as if you were betting on casino roulette.

In fact, this will only reduce your chances of finding good cards.

However, knowing which credit cards you can choose doesn’t solve your problem; it just filters your options. You still need to know what criteria to look for to make a good choice among your options.

Things to keep in mind when selecting your credit card

Several cards from various credit agencies scattered around.
Your credit score isn’t everything! Understand what else should be behind a good credit card choice. Source: Flickr

Despite being very important, your credit score is just one of the factors that should help you choose your card. Also, you should consider your personal finances.

After all, it makes no sense to choose a credit card that generates new expenses at a time when you are trying to get out of debt, for example.

In addition, you should also be aware of your financial moment in relation to credit. Is it time to work hard to improve your score?

Does it make more sense to look for a card that has an extensive rewards program as its main advantage?

Is it better to put off applying for a credit card and opt for a debit or prepaid card service, so you don’t risk incurring more debt?

Have these issues fully resolved in your mind before clicking the “apply now” button. Finally, take some good advice to choose your credit card:

Tips for finding the credit card that best suits your finances

Finally, take some good advice to choose your credit card!

Check your credit score

This will save you a lot of time from your research and get you straight to the options you can really count on. Some banks offer free consultations on your credit score.

Define the main objective

What is the main reason you are applying for a card? Want to build credit? Looking for an option to save on interest? Are you ready to access a good rewards program?

Think about it and use the answers as a filter for the options you found earlier.

Choose cards that have little or no fees

Carefully read each card’s “terms and conditions” document to ensure there are no “hidden fees”. Also, always opt for cards that offer the lowest rates.

Compare Reward Programs

Some reward programs give more points for purchase categories that are not common to you. Others offer complex programs with rotating categories or systems that are difficult to understand and follow.

Opt for programs that prioritize the consumption pattern you already have. Also, avoid complicated reward programs.

Now that you know how to choose a credit card to understand what happens when you miss a balance payment in our post below!

Set of credit cards on the card bill

Did you miss a credit card payment? See what happens now

Here's what you need to do to save your credit history and score even after you've missed a payment on your credit card. Read on.

About the author

José Gonçalo

I started reading about finance only to find better options than savings. Since then, I have never stopped studying finance, and I believe that writing about it is the best way to help individuals feel fulfilled and have a healthy financial life. Today, I balance finance and medical school studies.

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