How to choose the best credit card for you

If you are looking at credit cards, how do you know which one is the best for you? With many deals available and different types of cards out there, how do you go about comparing them to get the best deal? 

What Do You Want Out Of A Card?
The first question you need to ask yourself is what do you want out of your card? Do you want a card that has a lot of rewards, a card that has a low interest rate or something that can help you repair your credit? Are you using a card to tide you over a financial hurdle?Answering this question will guide you toward cards that meet your criteria.

Fees And Interest Rates Associated With The Card
Annual fees, monthly fees and interest are the three main things you may pay for with a credit card. 

It is a known fact reward credit cards have higher interest rates, but if you are using a credit card as a financial tool, you should not be paying interest because you will be paying it off in full each month and making it work for you, not against you. This is my favourite way to use a credit card.

If you are using a card to get over a financial hurdle you should be using a no or very low interest card, not a reward card.

Most cards have annual fees but there are some without an annual fee, some have no annual fee for 12 months and others can be incorporated with your mortgage in a total package.

Essentially, if you do your research, pay off your card on time and negotiate or compare you shouldn't have to pay many fees, if any at all.

What else should you check?

Have a reality check. Are you responsible and manage your money well? Do you know how to best utilise a credit card and will you pay it off in full or are you likely to go on a spending spree when you get it?

Check the limit. Just because a bank will give you a $15,000 credit card, doesn't mean you should have a card with a $15,000 limit. Work out the limit you will need and stick to it. 

Weigh up the benefits/rewards. Compare the various reward programs if that is what you want a card for and get the one that best suits you and your needs. There is not point collecting rewards or accruing points for something you won't use.

What else is included with the card, for example does it come with travel insurance?

How did you decide which credit card was right for you?

2014 Goals review

Back in November I posted my goals for this year. Fast forward a few months and my life changed quite dramatically. I have avoided posting an update as I really didn't know what to say about it because I won't be sharing details and it's not going to end any time soon. I have had to do a big review of my life, my business and try to find a way to make everything work together, which I'll explain more further down.

To start with, I did achieve some goals:
2.) Publish 2 more books: I have been working on a book about people who were homeless and are now successful CEO's and entrepreneurs. Due to some personal circumstances, it is paused for I don't know how long. However, I just signed a contract to publish a different book on overcoming obstacles, which I am very excited about and we aim to have it out by the end of the year.

6.) The Color Run. I did this in February with my sister.

8.) Outsource. I hired a couple of staff writers for my other sites earlier in the year and have just hired another one. I am currently sourcing a VA and am developing more of a team for my business.

9.) CEO Sleepout. This is happening next week. My goal is $2,000 and I have a couple of things I am trying to get me over the $2,000 mark by the time I sleep out, hopefully it works. I currently have $1,602 raised.

10.) Organise my life. This is coming along, still room for improvement but it is significantly better.

I have done well on the family goals and I have a treadmill now for my health goals.

I mentioned a review of everything in my life at the top of the post from my home life to goals to business, everything.

I have one main focus and that is my daughters. This means, as of next week:
- No more after school care. They were going 2 days a week but I made the decision to work only in school hours and instead we will be spending more time together after school.
- Say no. I get offered many opportunities and while some are great, they often take more time that I don't really have. I am saying no more and not feeling bad about it. My time is precious and I will only do things I really want or which are really beneficial to my family and business.
- Create a team. I have good intentions but don't always follow through. This year I worked on creating a team. I have a few staff writers and now a few other people I view as essential to business success. The aim is to outsource anything I don't view as worth my time or is faster/cheaper to have someone else do it.
- Focus on my strengths. Instead of trying to do it all, I will do what I do best and get others to do everything else. I know what my strengths are and since no one can know everything, I will utilise others skills instead of trying to learn everything myself. By focusing on my strengths and eliminating the unnecessary I will achieve much more.

As for specific goals for the rest of this year, they are pretty personal now. I won't be sharing details on my personal finances for some time. I won't be sharing much of my personal life at all. My immediate family and partner know and that is all.

I have a few things happening in the next month and once they are finished I will set some new public goals. Right now my focus is my family, raising the $2,000 for the sleepout (I am going to freeze!) and outsourcing some work.

What are you working on at the moment?