If you’re searching for a new credit card, you may be wondering how to choose between the vast array of options available to you.
At Baton Rouge Telco, we offer a range of credit cards with unique benefits. And, our credit cards are available through Visa, which is one of the most popular credit card companies on the market. So, no matter where you go, retailers who accept credit cards will accept Visa.
We’ve created this guide to help you understand the types of Visa credit cards, but also to assist you in deciding why you may want to choose one over the other.
Factors To Consider When Choosing A Credit Card
There are a few key factors to consider when deciding what type of credit card is best for you.
1. Your Credit Score
One of the main factors will be your credit score. Some cards require certain credit scores to be approved.
For example, if you are starting to establish your credit, it’s more likely you’ll be approved for a secured credit card than an unsecured card. A secured card is one where you place down a monetary deposit, which becomes your credit limit. This ensures that if you fail to pay your bill, after a period of time, the company can recoup the costs by claiming your deposit.
2. The Perks
Some credit cards come with perks, and these vary amongst credit card companies. For example, you can compare the cash back rates and other rewards to choose the best fit for you.
3. Your Spending Habits
Certain credit cards give specific rewards for different types of purchases. For example, one card may offer cash back on gas purchases, but another card could have benefits at grocery stores.
Take a look at your spending habits and match up where you spend the most money with the highest corresponding rewards.
4. The APR
The APR – or annual percentage rate – associated with your credit card likely depends on the cards that you can qualify for. However, if you have the option, you should aim for a card that has a lower APR.
While you should try to always pay your credit card in full, on time every month, sometimes things happen. In this case, you’ll want to have a credit card with the lowest possible rates.
This can especially be important if you are using a card to consolidate your debt from other high-interest credit cards.
Baton Rouge Telco’s Credit Cards
Here’s a detailed breakdown of the credit cards that we offer.
Visa Gold comes with a rate as low as 7.90% APR1.
This excellent rate can be a great option if you need to consolidate debt from higher-interest credit cards. This card comes with a minimum credit limit of $500. It is an unsecured credit card.
Visa Cash Back
Visa Cash Back is a card optimized for people who prioritize cash rewards on their credit cards. With this card, you can earn 2% back on all purchases. Not only this but the cash back rewards are not capped. So, you can earn unlimited rewards every month as long as spending is within your credit limit.
This card is slightly higher, starting at 9.24% APR2, making it a better option if you’re prepared to pay off your bill in full to avoid accruing interest.
A Visa Secured card is great if you’re looking to build and/or repair your credit.
As mentioned above, a secured credit card is one where you put down a cash deposit as collateral. This cash deposit ensures that if you do not pay your credit card bill, after an established time frame, the company can claim your deposit.
This feature makes secured cards more accessible if you have a lower credit score or little credit history. If this fits your situation, it may be the ideal card for you.
Shared Features Of All Baton Rouge Telco Cards
Now that we’ve discussed the key differences between cards, there are a few additional features that apply to all of our cards.
- Zero balance-transfer fees
- Visa’s safety and security features
- Convenient online links between your credit card statements and your other Baton Rouge Telco accounts
- Apple Pay
- Instant Issue – we provide you with a card the same day in our branches
Learn More About Our Credit Cards
If you want to learn more about our credit cards and the features that Baton Rouge Telco offers, you can find more information on our website. Just follow the following link below!
1 Quoted APR is Telco’s current rate. All rates, terms, and conditions are subject to change and are based on creditworthiness. Low minimum monthly payment of only 2% of balance or $10 (whichever is greater). Cash advance fee of $10.00 or 2% of the amount of each cash advance (whichever is greater). Overdraft Protection Fee: $5.00 per transfer — if you opted to use the LOC as a transfer source. Account Transfer Fee: $10.00 or 2%, whichever is greater, per transaction. This includes any transfer of funds from the LOC to an account, either in person or electronically.
2 Quoted APR is Telco’s current rate. Cash Back Card rate is a variable rate tied to prime rate and can be adjusted every year.