The largest rewards headline may matter less than the cost of borrowing. If you expect to carry a balance, start with the card's interest terms and fees.
Read each rate separately
A card may have different APRs for purchases, balance transfers and cash advances. An introductory rate can end, after which a different rate may apply. Check when the promotional period begins and ends, which transactions qualify and whether a late payment changes the terms.
Look beyond the annual fee
Review balance transfer, cash advance, foreign transaction and late-payment fees as applicable. A card with no annual fee is not necessarily cheaper if you regularly pay interest. Conversely, a fee may be worth considering if you can use benefits that exceed it.
Compare a realistic scenario
Think about whether you usually pay in full or carry a balance, your expected spending and how long a balance could remain. Use the payoff illustration to explore a simple fixed-payment scenario, then check the issuer's terms for the actual calculation.
Read the issuer's pricing information before applying. Compare the ongoing rate as well as any introductory offer.
Source and review
Based on CFPB credit card key terms ↗. Last editorial review: September 2026. Confirm current product terms with the card issuer.