Elon University Assistant Professor of Finance Andrew Schwartz spoke with WalletHub about what consumers should know about choosing credit cards.
Andrew Schwartz, assistant professor of finance, was quoted by WalletHub in their article on the best credit cards.
Schwartz touched on multiple issues, including how credit cards can be a determinant of economic health and tips for finding the best credit card.
“The most important thing to think about is how you use credit cards and what is most important to you,” said Schwartz. “If you are someone who pays off their credit cards in full every month, you want to focus on the rewards and other benefits a card offers. There are many types of rewards programs, so think about which program you would benefit the most from (e.g., miles with a specific airline, cash back, discounts at specific stores, etc.). If you are someone who tends to carry a balance month-to-month, it is much more important to find a card that offers as low an APR as possible. For instance, you will pay 11% more in interest each year with a credit card that offers a 22% APR versus one offering a 20% APR.”
Read the full article on WalletHub.