Over time we have come to learn, no one credit card is right for all. The financial product has grown to become one of the most important part of our wallets. It assists in not only making daily transactions, but also brings with it a whole lot of benefits on making spends. Not every credit card is built to fit your spending habit, for this reason, it is essential to make the right choice. Finding the right credit card is no more just about one that offers a lower interest rate or comes with a sign up bonus. There is much more attached to getting the best out of the right card.

Here the millennials guide to applying for the best credit card:

Identify the right credit card for your needs – There are credit cards that generally fall into three categories, those that aid in improving credit, those that help save money on interest and those that bring you big rewards. It is essential to know of all these categories and pick one with features that meet your specific needs. For instance, if you shop regularly, then a credit card that earns you reward points through retail partners is a better bet.

Know of control features – As a millennial, you do need to have the ability to access your credit card through the different devices that you use. Being able to manage your account effectively is essential as your card must match the ease you enjoy in your financial life. Ensure that it comes with features such as spending limit alerts, transaction monitoring, being able to set travel alerts and more. Also, you must be able to get quick assistance from your issuer in times of need.

The issuer must meet your expectations – When availing of your credit card facilities, it should assist you in making the smooth transition to in the millennial lifestyle. The facilities should accommodate the lifestyle and spending habits of millennials. In short, look for a bank that also meets the millennial-needs.

Narrow down the choices – You are likely to find several credit cards that match your requirements and then you have to make the top pick. Evaluate different factors such as will the card help build your credit score, the annual fees, interest rates, rewards on spends, complication with usage and more. The final pick must bring you a good overall value.

It does not end at getting you the right credit card. To make the most of this plastic card, you must also ensure that you establish a strong credit by being regular with your bill payments and not surpassing your credit limit.

If you want to reduce interest payments on any other existing credit card through balance transfer or if you want to donate to charity events, ask yourself these questions before asking for a card.

If you can fully handle the bill every month, then annual rate and interest free period are more important factors than interest rate.

But if you want some cash advance to manage the financial burden, then you should consider the rates for cash advances and the related interest rate (more for cash advances).

Make a short list of appropriate credit cards

Soon you can make a short list of cards that meet your needs. Now you are looking for the best fit.

The secured card is generally best for people with limited or poor credit and requires a security deposit.

The size of the deposit determines the amount of the credit limit. If you have a good credit history and a regular income, regular and unsecured cards will meet your needs.

They do not require security deposit and higher credit limits are available. If you qualify for a premium card, such as gold, silver, or platinum, you can get the highest credit limit and enjoy bonuses such as travel insurance, purchase guarantees and emergency service options.