With so many credit card choices out there, it can be overwhelming to see which may be right for you. Finding the right card comes down to your spending habits and benefit preferences. At First Hawaiian Bank, we want to make selecting the right credit card easy, so ask yourself these questions when looking for a new credit card to determine the right fit for you.

What’s My Credit?

Knowing your credit score can help provide a better list of cards available to you. There is a card out there for just about any credit score, but those with a lower credit score will tend to have less perks and higher APRs.  also important to check your credit report on a regular basis with Equifax, Experian, and TransUnion. You can check these reports for free without affecting your score annually and you can receive weekly reports. 

What are the Types of Credit Cards?

Rewards Credit Cards
Rewards cards will offer cash back, points, or miles to use on everyday purchases and often include a welcome bonus.  Our Priority Destinations World Elite credit card allows you to earn unlimited 5x Priority Miles per $1 spent on travel1 and unlimited 2x Priority Miles per $1 spent on dining.[[#1]] You can redeem these Priority Miles on any airline available on our Expedia-powered platform[[#2]], or for statement credits or gift cards. For more information, please refer to Priority Destinations World Elite Program Agreement at fhb.com/pdagmtworldelite. 

Rewards depend on the card, with a flat reward rate, tiered structure based on spending categories, or a rotation of bonuses throughout the year. These typically will not have an annual fee but there aren’t a lot of perks – besides the daily spending rewards. Rewards cards are great for daily spending if you have the ability to pay off the debt fast.

Balance Transfer Credit Cards
If you are looking to move debt from another credit card, a balance transfer credit card can help you pay off your debt less expensively. This debt consolidation tool isn’t usually free, and often has an upcharge fee of the transfer amount. However, these can still be beneficial if you stick within the APR promotional period, especially if your current credit card’s APR is making debt management more challenging. First Hawaiian Bank’s Heritage Card offers a low introductory APR of 2.99% for the first eight (8) billing cycles on balance transfer purchases. For more information, visit fhb.com/heritagedisclosures.

Low Interest Credit Card
Low interest credit cards or 0% intro APR cards offer no interest charges on your spending through a set period of time. This is ideal for those with the ability to make one or several larger purchases at once without needing to pay it off right away. However, any remaining balance after the promotional period would be assessed for interest. Our Priority Unlimited Credit Card offers 0% introductory fixed APR for the first six (6) billing cycles following the opening of your account. For more information, visit fhb.com/priorityunlimitedagreement. 

Airline Loyalty Cards
An airline loyalty credit card is a type of credit card designed for frequent flyers that lets you earn airline miles or points for every dollar you spend, both on the airline and on everyday purchases. Many airline cards also offer benefits like priority boarding, free checked bags, lounge access, and bonus miles on airline purchases, making them a great tool for travelers to maximize rewards while covering regular expenses. Our United Credit Card allows you to earn 3x Miles per $1 spent on United tickets purchased through United ticketing channels as a United credit cardholder and MileagePlus member. Your 1st and 2nd checked bags are free.[[#3]] For more information, visit fhb.com/unitedprogramagreement. 

What Terms Should I Know?

It’s important to understand some of the key terms you will encounter when looking for a credit card.

• APR: Annual percentage rate is the cost of credit at a yearly rate 
• Annual Fee: Some credit cards will require a yearly fee or monthly installment
• Balance: This is how much owed on account including your spending, fees, and interest
• Balance Transfer Fee: Either a flat or percentage fee to transfer balance from another credit card.
• Credit Limit: Maximum spending allowed on that card. It’s advised to keep spending below 30% of your limit.
• Grace Period: Number of days past due date that you’re allowed to pay before late fees or interest is added. 
• Promotional APR: This promotional or introductory period provides no interest or lowest rate. This will change after the promotional period to the cards going rate. Federal law requires this period to be a minimum of six months.
• Penalties: Either in the form of APR or fees, these violations of terms (i.e. late payments, over limit) allow the card issuer to apply to your balance. These vary between issuers.

What Credit Cards Are Out There?

Choosing the right credit card needs careful consideration with your credit score, spending habits, and benefits you want to see in a card. Take the time to explore your options and compare offers and reviews. To determine which credit card will best fit your needs, check out our credit card offerings.