About
Our Evaluations
Our ratings
and evaluations are based on what
the credit card product has to offer
to cardholders and the overall cost
to the cardholder for using the credit
card. Credit cards that offer numerous
benefits and services at a low cost
to the cardholder generally receive
higher ratings, while credit cards
that offer limited benefits at a high
cost to the cardholder generally receive
lower ratings.
The Overall
Rating and Benefit Rating
systems are based on a point system
used by our editors. The point system
allows our editors to provide an accurate
method in comparing credit card products
within the same card category. Although
each category differs on how points
are distributed, all cards are given
fair and unbiased evaluations. Posted
below is a sample of our Overall Rating
system: |
Sample
of Overall Rating
Category: Regular
Cards |
Sub-Category
Rating |
Points |
Card:
Bank ABC |
APR
(Purch) < 6% |
+18 |
--- |
APR
(Purch) < 9% |
+12 |
+12 |
APR
(Purch) <12% |
+6 |
--- |
APR
(Purch) >17% |
-3 |
--- |
Finance
Config: Two Cycles |
-10 |
-10 |
Minimum
Cap on Purch |
-4 |
--- |
Minimum
Cap on Cash |
-2 |
--- |
etc... |
|
|
This
is only a small sample of our
rating system. Each card category
contains anywhere between 15
- 40 different rating sub-categories. |
|
Overall
Rating
 |
Benefit
Rating
|
The
Overall Rating is basically
our viewpoint on how valuable
the credit card is to the cardholder
as compared to other credit
cards within the same category.
|
The
Benefit Rating represents
the additional benefits and
services offered to the cardholder.
Standard card benefits are also
taken into consideration.
|
|
| |
| |
Some
factors that determine the "Overall
Rating and Benefit Rating" |
| |
High
Ratings
|
Low
Ratings |
- Low
APR (for purchases and/or cash advances).
- No
annual fee.
- Unique
benefits and/or services.
- Limited
restrictions for rewards earned.
- Low
fee for reward program.
- Special
product and/or service discounts.
|
- High
APR (for purchases and/or cash advances).
- No
grace period.
- Two-cycle
average daily balance finance configuration.
- High
annual fee (with no benefits).
- Limited,
or no benefits.
- High
application fees.
|
|
| |
| What
we do not consider in our ratings: |
- Quality
of customer service.
- Penalty
fees (i.e. late fees, over-the-limit
fees, etc.).
- Internet
account related services.
|
| |
| Important
Notice |
Only
similar credit cards are compared
- Each credit card is only compared
to other credit cards in the same
category. In other words, we would
not compare a secured credit card
to that of an unsecured platinum
credit card.
|
The
final decision is yours to make
- It is important to note that our
ratings are based on our rating
system and should not be the only
factor in deciding which credit
card is right for you, as some credit
cards may be better suited for some
individuals, than for others. Therefore,
we strongly suggest visiting the
credit card issuer's web site for
additional information or to answer
specific questions you may have
about a particular credit card.
Questions
or comments? Go to our contact
form. |
|
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