So you're ready to apply for a credit card, possibly your first credit card ever, and you're overwhelmed by all the options that are out there. Congratulations. You're normal! Whose head wouldn't spin amidst all the promises of cash back rewards, frequent flyer miles, low interest rates, no interest rates, free balance transfers, no annual fees – all of which will change 3 months to a year after you sign up?

When it's time to apply for a credit card, how do you decide which offer is right for you?

Everyone Has a Credit Card

First of all, have faith. Almost everyone has a credit card these days from the 16 year old up the street who mows lawns for a living to the multi-billionaire who owns huge corporations in the third world – and everyone in between. This means one thing – there is a credit card offer out there that is perfect for you.

Factors To Consider When You Apply For a Credit Card

When you apply for a credit card, the bank sponsoring the card will take into consideration a list of factors. You will do well to consider these factors yourself, so you'll know if a card is right for you. They include:

• Credit rating and reports

• Other cards (or lack thereof) currently open under your name

• Age

• How much of your balance you will pay back every month

• How much of a balance you will build every month

• Current income and projected future income

• What you will most likely use the credit card to purchase

Is this a card for business expenses only or for necessities like the electric bill and groceries? Do you intend to pay off the card every month or make a large purchase and then pay it down a little at a time? Is the job you have steady and pay well enough to support a credit card, especially if you carry a balance on other cards already?

Knowing the answers to these questions will help you decide which card is right for you. If you intend to pay off your balance every month, then a rewards card is good for you and the APR rate won't matter. If you'll probably carry a balance, no reward system will balance out what you'll pay in high finance charges.

Take your time, do the math, and ask questions if you need to. Better to figure out the details now rather than later when it's too late!