Not all credit cards were created equal. And the differences go far beyond your choice of pretty picture or school logo.

Since you've probably already got at least one piece of plastic magic burning a hole in your wallet, you may as well make sure it's the best one for you.

Step one: Figure out what kind of credit card user you are.

Consumers generally fall into one of two categories, according to Ryan Everett, executive director of credit card products management at USAA. There are revolvers, who tend to maintain a balance on their cards, and transactors, who use their cards to make purchases but generally pay them off when the bills come.

Revolvers, Everett said, should look for low interest rates to save a few bucks while paying down debt. Transactors should look for rewards programs that give them something extra for using a card when they could just pay cash.
 
Once you've figured out what kind of credit card user you are, you'll need to do a little reading. Never apply for a credit card without paying careful attention to those pesky little information booklets that come in the mail with those pretty, glossy offers you're always getting. You'll want to pay special attention to the sections marked interest rate and annual fees.

Interest rates can vary from 8 percent to more than 25 percent. The lower the rate, the less you have to pay on those dollars you've borrowed from your friends at MasterCard, Visa or American Express. If you've got a credit score of 740 or above, Everett says you your interest rate should be between 9 percent and 14 percent. But beware — a missed or late payment could bring interest rate hikes in addition to late fees.

Some companies, like USAA, will bring interest rates back down after a certain number of on-time payments, but with others one mistake can bring a lifetime of interest rate punishment.

As for annual fees, just say no.

“There's so many cards without annual fees right now with decent rates and decent rewards that it's really not worth it,” Everett said.

Once you've found a fee-free card with a low interest rate or the frequent flier miles, cash back or whatever else you're after, look for the catches.

The worst catch is called “universal default.” If your card comes with universal default, a late car payment, rent payment or other overdue bill can cause your card's interest rates to rise even if you've been a model customer when it comes to your credit card payments. Avoid these cards.

The bottom line when it comes to picking a credit card: Look for the lowest interest rate you can find and make sure you get a little something in exchange for paying with plastic.

Chances are, there's a card out there that's pretty close to tailor-made for you.

Credit cards aren't created equal and neither are their users.

Next week's column — rebuilding bad credit.