How to Find the Best Kredittkort for Your Needs

Let’s face it – there are a lot of options as far as credit cards go.  Inevitably, some are going to be better than others.  It’s making this decision that can be quite a challenge, and it’s what we’re here to explain today.  Anyone who’s had to peruse the cards on the market before is probably already familiar with how much of a hassle it can be.

Part of the problem is the sheer number of cards out there.  From business credit cards to consumer ones to travel rewards ones, the possibilities are nigh endless.  If you’re aiming to go through the application process now that we’re approaching 2024, there are a few things you’ll want to keep in mind.

Just make sure to stick around if you want to learn more about this process.  We’ll be delving into the various types of cards that are out there, as well as how you can actually apply for them.  Sorting between them can also be quite tricky, after all!

Credit Cards: What’s Out There?

In order to decide on which sort of card to apply for, it’s pretty important that we first know some of the potential selections.  You see, without that inform- ation, we may not be able to pick one that’s truly the “best,” at least for our circumstances.  Let’s cover what some of the options are, then!

Rewards, Cash-Back, and Travel Credit Cards

We’ll lump these three options together largely because of the fact that they set out to do very similar things.  The main idea here is that when you spend with these credit cards, you’ll receive some sort of incentive or reward.  Allow us to explain.

Primarily, these cards allow you to earn points, miles, or cash back for every dollar spent, though sometimes the system is a bit more complicated than that.  Then, you can redeem those rewards for various benefits such as travel, gift cards, merchandise, or even statement credits.

With cash back options, you’ll usually get some sort of credit that you can either put towards your statement each month, into your bank account (usually one that is linked to your card), or you can redeem gift cards with it.  As far as the travel rewards go, though, there are things known as frequent flier programs.

With frequent flier cards, you’ll earn “miles” each time you travel.  Often, you can get the card through a specific airline.  You can read about how that’s evolved over time here in Norway in this article, if you’re curious for some additional perspectives on the matter. 

The big thing to remember, whether you want a point, cash back, or travel card, is that there will still be other terms involved.  You’ll have to qualify for the credit card to begin with, and be able to make your repayments on time, even if you’re getting rewards along the way.

Secured and Low Interest Credit Cards

For some of us, the idea of having a credit card can be daunting to begin with.  It’s a pretty big respon- sibility, after all, and there’s always a chance of plunging yourself into debt that you just can’t handle.  What options do we have, then, if we don’t really want to take on a huge risk when we apply for a credit card?

Well, the primary option in that case is to opt for a card that is secured, and/or one that has a low interest rate.  Allow us to explain what this means.  Thankfully, it’s pretty simple.

With a secured card, you pay a security deposit in order to open the account.  Most of the time, this deposit will end up being your credit limit.  You’ll be able to use that much credit, and then, once you pay that back, it will be open to you again.  This is a nice place to start, seeing as there’s not a possibility of spending beyond what you are able to pay.

Low interest cards have a similar concept, with the main difference being that you simply aren’t

going to end up gauged as far as the interest accrued on your current balance.  In fact, you can read more about them here: https://www.kredittkortinfo.no/ if you’re curious about it! 

One of the biggest risks of credit cards is overspending and getting in over your head.  The interest accrued can end up costing you even more than what you originally spent!  These are just a few ways that you can avoid getting in a situation like that.

Applying: How it Works

While we haven’t covered every single type of credit card out there, we’ve given you a better view of it than you had before at least!  With that all said, let’s delve into how applying for them actually works.  Your first step, of course, is to do some research on which option will work best for your financial situation.

One of the biggest depending factors there will be what your credit score is.  The higher your score, the better your chances of qualifying for the cards that have the best interest rates, terms, and even rewards and benefits!  Don’t be discouraged if you aren’t quite there yet, though.

As we mentioned, there are several types of cards that can help you build up your score so that eventually, you can reach the point where you can get almost any card you want.  Thankfully, here in Norway, there’s a wide wealth of options available to us in the meantime – it’s not something we have to stress about too much!

Overall, it’s up to us to decide which will be the best option for us.  For some folks, a card that gives miles for travelling is a total shoe-in, because they travel often and would get a ton of use out of it.  For others, that would be a waste since they don’t travel at all.  This is why there are so many potential choices, really – this way, we can each find something tailored to our needs.