Even if you don't always make perfect decisions, you're a quick learner. You've gotten in credit trouble in the past, but you've turned over a new leaf.
By Erin Peterson
Your credit card personality: The Better Man/Better Woman
Your traits: Even if you don’t always make perfect decisions, you’re a quick learner. You’ve gotten in credit trouble in the past — perhaps it was after losing your job, getting ill or making careless mistakes when you were younger. You carry a balance, but you’ve turned over a new leaf and are working hard to become debt-free.
You should consider: Find a card that lets you focus on paying your debt off rather than incurring new charges. “If you carry a balance, you’ll want to look for a balance transfer card that will give you a 0 percent balance for six or 12 months,” says Aaron Patzer, CEO of Mint.com. “Be sure you pay attention to balance transfer fees.”
If you think it may take longer to pay off your debt than the term you’re offered, make sure you know what the interest rate hike will be or transfer only the amount you’re sure you can pay off during the 0 percent period.
You should avoid: For people really focusing on eliminating debt, it’s probably best to avoid temptation — and that means rewards cards and high limits. Pulling out your card should remind you that you’re trying to get back on track — not that spending an extra $50 will get you a brand new waffle iron or gift card.
CREDIT CARD PERSONALITIES
Before choosing a credit card, know yours.