Here are some of the important considerations when choosing a credit card:

Interest rate

This is, perhaps, the most important consideration when selecting a credit card. You want a card with a low interest rate. Right now, the Federal Reserve rate is set rather low, and that means credit card interest rates are reasonably low as well. Some credit cards are offering as low as 9.9% interest. It is also nice if you can get a fixed interest rate, although this is next to impossible. Most credit cards will insist on a variable rate, meaning that your rate will increase as changes are made in the money market.

Your credit also has something to do with the interest rate you are offered. If you have better credit, you will get a lower interest rate. If your credit is less than desirable, though, you may end up with something as high as 29.9%, although that is normally reserved for the default rate right now. Most people with even questionable credit can get a card with an interest rate of around 19.9% or 21.9%.

Another thing to consider is an introductory rate. Many cards offer 0%, 1.9% or 3.9% for anywhere between six months and 18 months. Check into these offers, and see whether or not you can get a card with a long intro period and a low rate.

Credit limit

Another important consideration is credit limit. Some cards offer higher limits than others. But you should be aware that when the card advertisement says something like: "Up to a $10,000 limit!" the key words in there are "up to." Chances are that you will not get that limit. Instead, you are more likely to get somewhere around the average of $2,500 for your credit limit. Also, consider that your credit history will be taken into account for your credit limit as well. You may only get $200 to $500 if you are a student or if you have poor credit. Someone with good credit may get around $5,000, and a business may not even have a set limit.

Rewards program

These days, there is no excuse not to get a credit card with a rewards program. A rewards program can benefit you by giving you cash, travel points or merchandise for using your card. These programs provide added value from your credit card issuer. You should check to see if the credit card you are considering offers a rewards card that works with your needs. If you prefer cash back, you can go that route. If you do a lot of traveling, get a credit card that offers airline miles or hotel rewards points. Some people get merchandise rewards cards and use the points to get free electronics, toys and other items. Some reward and rebate credit cards are so flexible that you can choose your rewards. You should not settle for a credit card that does not offer rewards. Remember, though, that if you carry balance, you can destroy the value of your rewards. Instead, you should pay off your credit card every month in order to get the maximum value.

Customer service

Consider the customer service offered by the credit card. Ideally, your credit card will offer 24 hour customer service. This is important because you never know when there might be a problem that requires you to call the hotline. A toll free number should be easy to find. Additionally, many credit cards companies offer live chat on their Web sites so that you can easily reach them via the Internet. This can be a really helpful feature for some of the more technologically inclined.

Online account access

Finally, find out whether or not the credit card company offers online account access. This can be vital. You should be able to log on and view your account status, transactions and other information easily. Additionally, it is good to be able to make payments online and schedule transfers. Most credit card companies offer online account access, and you should take advantage of these companies.

There is no reason that you cannot have a good credit card. You should carefully evaluate the options and apply only for the credit card that best suits your needs and offers you the best deal.