Credit Where Credit’s Due – Choosing the Credit Card that Suits Your Lifestyle

Choosing the right credit card can be difficult – especially when first embarking on the credit ladder. Many people choose one that has a 0% interest rate and a low credit limit, in order to build their credit score by buying small cost items on the card and paying it off within the month, in order to keep the balance in the green. But finding the right card can be dependent on what you’re going to do with it. The savvy shopper’s credit card would likely be different to the reckless spender’s. So, here’s a rundown of the best way to find the right credit card for you, depending on what type of person you are with finances.


Savvy Shopper

The savvy shopper knows where every single penny is going – and can account for past and future purchases with an almost sixth sense-like ability. The savvy shopper should consider which credit card would suit them in the long run. They’ll likely not let the limit go very high, and will probably be paying it off regularly. Buying larger purchases and spreading the payment out over several months is often the staple of savvy shoppers. For example, tools like Bankrate’s Credit Card Calculator will be very useful in order to create the weekly spreadsheets for paying the card off.

Heavy Hobbyist

The heavy hobbyist has a wide range of interests and hobbies, ranging from physical hobbies like skiing to stationary hobbies like online gaming. While the hobbies may vary, the expenditure is likely the same – spending on things you love to do in your free time. But hobbies can pay back, too. For example, hobbies like online gaming with 888poker can require a flexible credit card due to the various sums you’ll want to use when playing. The $1 joining bonus and $31 of starter tournament tickets, if used well, can help prolong the period needed to pay the card off. So a higher credit limit would be suitable – and a longer amount of time before it needs to be paid off in a very flexible manner would be best.

Reckless Spender

The reckless spender is always eating out, buying rounds at the bar, and worrying about their finances later. So a cap on spending would be required so no lapses occur, as well as a scheduled payment cycle so the reckless spender can be tamed. Choosing credit cards that are flexible with the timeframe of paying them off – for example allowing larger spend months to encroach on later months, will allow the reckless spenders to ensure if they do go over their limit, they have a safety net to curb their spending.

The “Never Spends”

Much like the savvy shopper, the “never spends” don’t like to part with their pennies, which can be difficult when it comes to gaining a credit record. Never spending, means never proving how good you are at paying things back, which could end up being problematic when it comes to getting a mortgage. The best financial advice for the “never spends” is to choose one thing – for example, a monthly big shop – and use your credit card for it. Then, immediately pay it back. That way, you won’t need to make unnecessary purchases, and will also be working towards building that credit score.
Whichever credit card profile you fit into, it’s important to do due diligence when it comes to deciding which credit card to get.