Are you ready to compare credit cards before applying for a new one? Do you know what kinds of features you might need to compare? Do you have priorities — certain features that are more important to you than others? Let’s take a look at some common credit card features you might want to compare to give you a place to start.

Here are six examples of credit card features you might want to keep in mind during your next credit card comparison.

1. Purchase Interest Rates

This is the interest rate you pay on new purchases. If you can take advantage of interest free days, this purchase rate won’t kick in until those days pass. Sometimes you can find credit cards with an introductory offer featuring a temporary very low purchase interest rate. In that case, make sure you also compare regular interest rates, as some can be quite high when the introductory period expires. Ideally, the lower the purchase rate the better, so be sure to consider low interest credit cards like the Bankwest Lite credit card.

2. Annual Fees

The annual fee is a fee you pay to the credit card company each year for the privilege of using their credit card. The annual fee is often proportionate to the perks and rewards available to you as a cardholder. If you aren’t looking for many perks and rewards, look for a card with a low annual fee or even no annual fee like the HSBC No Annual Fee Credit Card.

3. Balance Transfer Interest Rates

If you already carry a balance on credit card and you’d like to transfer it to a new card for lower interest, you’ll want to pay attention to balance transfer rates. This is a special interest rate for your balance transfers, and is usually a temporary rate. To get these special balance transfer offers be sure to compare balance transfer cards like the Citibank Clear Platinum card.

4. Rewards Programmes

If rewards are a big reason for your interest in a new credit card, you’ll want to focus on comparing the rewards programmes. For example, pay attention to what rewards are available for each card (such as cash back, merchandise, or frequent flyer points). Also see how many points you need to redeem for similar rewards. Rewards points are not all created equal. Finally look at how many rewards points you can earn per dollar spent.

5. Cardholder Loyalty Perks

Some credit cards (often rewards credit cards) also offer additional perks to you just for being a loyal cardholder. Make sure you compare these as well, especially if the card has a higher annual fee — so you can see what you’re paying for. Examples of perks include free travel insurance, purchase cover, and extended warranties.

6. Approval Requirements

Finally, don’t forget to compare the approval requirements of the credit cards you’re interested in. Each card has its own income requirements for example. No matter how appealing an offer might be, there is no point in applying if you don’t meet those requirements.

These are only some of the bigger comparison points between credit cards. Look at individual offers closely and you might find other terms that are of particular interest to you (such as cash advance rates or special bonuses for new cardholders). Which credit cards terms matter most to you when looking for a new card?