(Stephanie Brown)

As the salesclerk finishes ringing up your groceries, he or she usually asks one question when you whip out the plastic.

“Debit or credit?”

For most students, the answer is debit. However, as seniors inch closer to graduation and begin to pursue the rest of their lives, a credit card is a financial option to consider.

Visa, MasterCard, American Express, Discover are the main financial services companies that distribute credit.

Individual banks issue cards using the Visa and MasterCard brands such as Citibank MasterCard, Bank of America Visa, etc., which is why there are literally hundreds of different cards and card options out there.

With so many options it’s hard to choose. J. D. Power and Associates conducted a Credit Card Satisfactory Study in 2010 that identified American Express as the card with the most satisfied customers. Discover ranked second.

“I know that I’ll need to start establishing some good credit, but I really don’t know which card is right for me,” said Anne Sullivan, who is a senior at Southern Methodist University.

When deciding which credit card to choose, evaluate your individual lifestyle habits. Credit cards usually have a rewards system that allows users to generate points that add up to a monetary value, which users can then spend.

Say you’re a student just starting out on your own and you need a credit card that will provide some relief when it comes to your expenditures. With gas prices rising at quick rates, thus affecting other products, you could use a credit card that will give you rewards on your purchases.

According to a CardHub.com examination, the American Express Blue Cash Everyday Card provides one of best credit card rewards for students just graduating from school. The American Express Blue Cash Everyday Card allows for two percent cash back on gas.

However, the rewards don’t stop there. It also offers three percent cash back on supermarket purchases, two percent cash back on department store purchases and one percent cash back on everything else.

Apart from the $100 initial cash bonus, it has decent APR rates ranging from 17-22 percent with no annual fees.

“Having a card that keeps up with you when you’re just going about your daily business is definitely something I want to find,” said Southern Methodist senior Kris Doyle.

Others may decide they want points for purchasing groceries, traveling, and so on. Those options exist as well. But apart from simply focusing on how to earn the best rewards points, there are other factors that are important when choosing a credit card.

“Choose a credit card that has no annual fees, get a low limit, and use it very selectively. Keep it in a drawer, not your wallet. This will help you avoid impulse purchases that can get you in trouble,” said Dan Henry, chief executive officer of NetSpend, a company that offers prepaid debit cards.

A Consumer Action credit card survey found that 31 of the 39 surveyed credit cards did not charge an annual fee.

Another priority to take into account when looking for a credit card is to research the interest rates and annual percentage rates, known as APR.

Though believed to be synonymous, interest rates and APR are different. Interest rates affect the APR as it is used to help calculate this rate.

Since the 2009 Credit Card Act, which limited overdraft fees and rate hikes for current cardholders, credit card interest rates have continued to rise. According to Bankrate.com, interest rates currently sit at 14.5 percent, which is up three percentage points over the past three years.

For recent graduates trying to build credit, it’s best to find a credit card that has low interest rates and an APR around 10 or 12 percent.

Though the quest to find the credit card that best suits your lifestyle may seem daunting, it’s best to approach the task by breaking down the logistics into a few important categories.

Doing so allows you to fully understand the package your getting so there are fewer surprises once you’ve chosen the credit card.