The credit business is a very competitive one - there are hundreds if not thousands of credit card issuers all vying for your business. The result of this is that just about as many different incentives are offered to entice you to use a particular vendor’s product. Award points. Cash back. Low interest. Zero interest introductory offers. Low interest on balance transfer. Travel services. Roadside assistance services. The list goes on and on. You may be familiar with this plethora of services, but keep in mind that they are only offered because the business is so competitive, and I’ll bet that it’s been a good long time since you’ve shopped those services to make sure that you’re getting the very best value that you can.

Shopping for credit cards can really save you a ton of money in fees and interest. You need to make sure that you find credit cards that match your spending and payment habits, and it’s good to have more than one. Here are a few tips that you can use:

1) Understand the features of your credit cards. If you routinely pay your bill in full monthly, you can afford to be less concerned about the interest rate offered and can instead focus on other desirable features such as cash back or frequent flier miles. If none of these other features interest you, perhaps you should shop for a credit card that has a longer grace period - that period of time before interest begins to acru on a transaction.

2) Compare credit card costs and features frequently. Credit card interest rates and features fluctuate over time, and was a great deal when you signed up for your card several years ago might not be such a great deal now. When you shop you will most likely discover other credit card offers which are better suited to your individual needs than the solution you have in your purse or wallet. Check frequently, and if you find a better deal, take it. (They’ll give you incentive to do so such as zero interest balance transfer offers. These are excellent offers if you manage your account diligently.)

3) Know your rights when using your credit cards. If you are ever offered the chance to purchase “credit card insurance” - don’t bother. You don’t need it to cover anything over the initial $50 of unauthorized use. One of the beauties of credit cards is the added security they offer over cash. If your credit card is ever lost or stolen you will never have to pay more than fifty dollars of any charges made on the card. The Federal Truth in Lending Act guarantees this protection.

4) If you have a problem with your credit card, file a complaint. If you ever find an error on your credit card bill, be certain to write the credit card company within 60 days of the date on the billing statement. Make sure your letter includes your name and account number, tell them that you believe that the bill contains an error, explain why, and give them the amount and date of the error. When paying your bill you don’t have to pay the entire thing, or even the entire minimum payment. You can pay all other parts of the bill but you do not have to pay the disputed amount, any minimum payments associated with it, or finance charges that apply to it. This protection is guaranteed through the federal Fair Credit Billing Act in the United States, and by similar legislation in other countries.

Understanding your rights and the features available to you are easy steps and the information is pretty stable. Shopping for credit cards is an ongoing task that you should do consistently over time. Set a schedule in your mind of once every six or twelve months, and spend some time reviewing the offers available online. Credit cards are easy to shop this way, and you just might that you save yourself a lot of money by doing so.