Most Finns use wrong credit card
A credit card gives you more flexibility in payments and is a great payment method for online shopping. More than two-thirds of Finns own some kind of debit card, but despite this, the choice of credit card is not very accurate: most of Finns end up taking a basic credit card issued by their own bank.
Bank’s basic credit card is often the least profitable option
However, a bank’s basic credit card is often the least profitable option. It may not include any benefits such as a Bonus Program or Points, and the card may carry a high annual fee.
Part of the reason for this situation is that a person must be a customer of a bank before they can be issued a credit card. Customer identification is always required at a bank branch, which can be problematic, for example, for people living in a small community. The nearest office may be located dozens of kilometers away from where you live.
Indeed, the challenges of changing banks have certainly contributed to curbing consumers’ comparative interest. However, with the right card, you can save hundreds of euros a year and reap many worthwhile benefits.
My consumption behavior as a card selection criterion
Even if the card’s credit feature is not used continuously, the card may incur costs such as an annual fee. Therefore, it is worth comparing the features of the cards – it is good to use your own consumption behavior as a criterion for your choice. When a card has a loyalty program, all purchases automatically accrue, for example, a payment benefit or other monetary benefits that are not on the basic card.
The best option is a card with the lowest cost
For example, the predominantly store in contact worth getting a card with the Good Finance, a lot of traveling while flight points accrue card.
If you do not need any special benefits, the best option is a card with the lowest cost. In this case, it is advisable to choose the card based on the lowest possible annual interest rate and annual fee.
You can easily compare different credit cards with different features from our comparison:
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