How many of you have at least one credit card in your wallet or purse?  Well, I would guess most of you.  It almost seems that wallets and credit cards form a marriage of sorts: it is rare that you find one without the other.

With most of you having credit cards too, I am sure you are inundated with credit card offers from everywhere: mail, email, telephone calls, and even at malls.  There are just so many options that it is sometimes hard to compare credit cards effectively - that is until the Internet arrived.

For those of you actively searching for credit (whether it be a loan, mortgage, or credit card), the Internet should be the tool in your arsenal.  Why?  Well, if knowledge is power, the Internet gives you all the knowledge right at your fingertips.  What is also nice is that you can see what your current bank and other financial institutions offer with no fluff.

Now, go to your bank and ask them to show you what their competitors offer and I am sure you will be disappointed.  Chances are they won’t have their competitors offers handy (except for the ones where their product is cheaper).  Will the Internet?  You bet.

The other thing that gets me is that you shop around for better prices or better products for so many other things in life (such as cars, electronics, computers, etc.), so why wouldn’t you shop around for your financial products?  A good example I came across recently is that my credit card from my bank is a cash back credit card that gives me 1.5% cashback on my purchases.  What I found out is that there is another financial institution in town that offers the same interest rate, but they give 4% cash back!  Do you think I would have the card from my bank, had I known what was out there?  That’s right, it would be a big NO!

So, do yourself a favor:  when looking for financial products, shop around.  Not only may you get a good deal (in terms of a lower interest rate or payment options), but you will be able to make an educated choice.  It is your money, make it work the best you can for you - not for your bank.