Why do you apply for a credit card?

What do people want in a credit card? Last fall, Bankrate surveyed 1,803 readers to learn what is important to them when shopping for a credit card. Is it a low interest rate? Great rewards program?We thought we’d share some of the results with you. Do you agree with these cardholders?

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Related Articles:What is the best credit card?Find the best credit cardShould you transfer a balance?Plastic Rap blogRelated Links:8 benefits of new credit card lawHow to compare rewards cardsHow can I improve my credit score?Should you get a secured card?How many cards?2 of 8Survey results0 cards: 5%1 card: 23%2 cards: 37%3 cards: 19%4 cards: 9%5 cards: 8%With rumors that credit card issuers may begin to charge an annual fee for cards that are “dormant” or infrequently used, it may be important to rotate several cards on a monthly basis in order to avoid fees. [Read the full article]

For college students, the credit party is coming to an end.Ch. 1: New world of credit cards5 tips for the new credit card eraUnder 21? Credit cards hard to getNew law helps balance carriersChapter12345ALL

After years of snapping up credit cards with ease, the Credit CARD Act of 2009 will make it much more difficult for anyone under the age of 21 to qualify for a credit card.

Under the new law, which takes effect in February 2010, no one under the age of 21 will be approved for a credit card offer unless a parent or guardian or spouse is willing to co-sign, or the young adult shows proof of sufficient income to cover the credit obligation.

So come February, unless you have a job or a co-signer or you’ve celebrated that all-important 21st birthday, you won’t be able to open a credit card account in your very own name.

The new law also requires credit card companies to significantly cut back on their marketing efforts to college students. [Read the full article]

Stricter standards during this credit crisis have made it tougher to get approved for new credit cards. As of the second quarter of 2009, card originations were down almost 50 percent year over year, according to Charles Chung, senior vice president and general manager of decision sciences at Experian in Costa Mesa, Calif.Ch. 3: Take control of credit cardsWhat people want in a credit cardCan you get out of your credit card debt?Best ways to establish creditAre chip-and-PIN credit cards coming?Chapter12345ALL

In this tight market, those with poor, average or no credit may find themselves shut out of unsecured credit cards that have desirable terms. [Read the full article]

Looking for a credit card that’s truly rewarding?Ch. 2: Rewards keep growingBrokerages offer big card rewards3 ways to earn rewardsCredit cards cater to the richChapter12345ALL

Rewards cards tied to investment accounts offered by Fidelity and Charles Schwab offer some of the richest rewards programs around, with no annual fees and no caps on the rewards that you can earn.

“They’re out of the park in terms of very aggressive rebate incentives,” says Curtis Arnold, founder of CardRatings.com. “They’re beating everybody else hands down.”

Just how good are the deals? How does a 2 percent reward sound? That’s double the rate of rewards that you’ll find on most other rewards credit cards.

The Fidelity Investment Rewards American Express, Fidelity Retirement Rewards American Express and Fidelity Investments 529 College Rewards American Express cards offer customers a 2 percent rate of rewards on purchases. [Read the full article]

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