Fiona Logo
Loans
Credit Score
Learn

Credit Card Essentials

No Fee, Low Interest, or Rewards? Why not all 3! Explore the different types of cards and learn how to benefit from each purchase.

credit card use

Credit Card Essentials

When Does it Make Sense to Use a Line of Credit vs. a Credit Card?

Credit cards and line of credit accounts are similar revolving credit-based products. They both offer consumers access to necessary funds, whether for daily spending or a big, one-off purchase.

3 min read

Top Articles

More Articles
 Line of Credit vs. Credit Card: What’s the Difference?

Line of Credit

Line of Credit vs. Credit Card: What’s the Difference?

While a personal line of credit is more commonly categorized as a loan, in reality, it functions more like a credit card. That’s because a line of credit is a form of revolving debt, in which the money you borrow is paid back... only to be borrowed again. There are other similarities between a line of credit and credit card, however, there are also some key differences. Understanding how these two financial products compare and contrast will help in determining which option is the best for a consumer’s personal needs.

4 min read

Related Topics

Low Interest Cards Illustration
Low Interest Cards

Frequently Asked Questions

More Answers

To improve your odds of being approved for a new credit card account, try these steps:

Request your free credit score to determine your credit profile.

Learn about credit cards designed for your credit profile, so that you apply for offers that you are likely to be approved for.

If your application is initially rejected, be sure to call the card issuer and ask for reconsideration. Applicants often may be able to reallocate their credit lines or offer other information that results in approval.

With hundreds of available credit cards on the market, it's important to understand what your spending habits are in order to choose the card that's right for you.

For example, cardholders who carry a balance should consider a card with the lowest interest rate or perhaps a 0% APR introductory period. A lower interest rate means you will pay less money toward interest charges as you pay down credit card debt. On the other hand, cardholders who always pay their statement balances in full will avoid interest charges and may be more interested in a card that offers the most valuable rewards, based on their spending habits and lifestyle.

You can help ensure that you meet the credit card issuer's criteria by knowing what your credit score is. That way, you can get matched with cards you're more likely to get approved for. Consider using our credit score partner, TransUnion, to determine your credit rating.

Finally, you should consider any benefits offered by the card, such as air miles, cash back or travel insurance, as well as any applicable fees like annual and foreign transaction fees. Fiona makes comparing credit card rewards easy, by showing you a dollar value for how much you’ll earn within a year of using each credit card.

Let Fiona match you with the right financial product offers

Our service is free and will NOT affect your credit score

Get Started

WHO WE ARE

HomeAbout UsTrustpilot Reviews

CONNECT

Read Fiona Reviews On Trustpilot.com

Fiona Logo
Copyright © 2022 Even Financial
DisclosurePrivacy PolicyTerms of ServiceGLBA
Powered byEVEN
Home Icon
Even Financial Inc. NMLS# ‍1475872 / NMLS Consumer Access

This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site.

vv1.0.154.c9792c30c4c955eb05329a895942b630d13ddbad-build.300