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With over 1,500 credit cards to chose from, it's no wonder most of us get confused.

Finding the credit card for your pattern of spending can literally save hundreds of pounds. It only takes 10 minutes to find out how to pick the best buy.

Before you begin: Do some research
Take a good look at some recent credit card statements. Check the interest rate - you may have to look on the back of the statement in the small print. Look for any other charges, such as late payment fees, cash withdrawal fees, foreign currency charges if you use the card abroad. Look also for the normal interest free period (typically around 50 to 59 days).

If you have more than one card, make a note of all these details for each of them.

Step 1: Look at your monthly payments
Write down how much you pay off each month on your card(s), from the minimum to the full amount. This is a big factor in deciding the right card for you.

Step 2: Do you always pay off the full amount?
If you can pay off all your credit card debt every month, don't worry about interest rates. Look for other benefits you find attractive, like cashback on what you spend, loyalty points that go towards goods and services, or cards which support your favourite charity with donations based on your spending.

Make sure you are not paying a monthly or annual fee just for the privilege of carrying a credit card. Those that do usually offer certain benefits such as travel insurance or commission-free foreign currency, but these may well not be value for money.

Step 3: Think about consolidating your debts
If you have debts on several cards and you pay only the minimum or little more off every month, look at consolidating these onto one 0% rate card. Use an online financial comparison website to identify cards that offer 0% on balance transfers.

But beware balance transfer fees, which most card issuers now charge at around 2-3%.

Interest-free deals are generally for a maximum of nine or 12 months, and the interest-free period on any new spending is generally only the normal period of around 50 days.

It is rare these days to find a card that offers interest-free credit on both balance transfers and new purchases.

Be careful with cards that offer a two-tiered interest rate structure for balance transfers and new purchases. On some cards, this means that, when you make a monthly repayment on a card, the money goes towards paying off the debt that's attracting the highest interest. With others it goes towards paying off the cheapest debt first, which means your more expensive debt will grow faster and further. Read the small print carefully!

Step 4: Be realistic about the interest-free period
Ideally, if you consolidate your credit card debt onto one 0% card, you should look to pay it off within the time limit and not spend any more on the card until then.

If that's unlikely to happen, choose the 0% card with the lowest rate after the end of the interest-free period. Make sure you compare like with like by looking at the AER (annual equivalent rate).

Consider applying for a second card that is interest-free for new purchases. Again, this sort of introductory offer typically runs for up to a year. If you aren't going to pay off the debt completely by then, opt for the one with the lowest rate after the special 0% deal comes to an end.

Step 5: Think about the long term
If you are a regular borrower on credit cards, by all means take advantage of special offers, but look at the long term. Go for the card with the lowest AER overall. Also remember that frequently applying for new credit cards may have a negative effect on your credit rating.

Step 6: Do you use your cards abroad?
Most credit cards charge a currency conversion fee - typically around two per cent - on all purchases made abroad. There are only a handful of exceptions (most notably Nationwide) and it is worthwhile having one of these cards even if you use it exclusively for foreign travel.

Step 7: Don't withdraw cash on your credit card
Cash withdrawal options shouldn't be a factor in comparing credit cards because it's best to keep your credit card away from ATMs. Interest gets charged from day one, probably at a higher rate than for things you buy, and there may be additional fees, especially from abroad.

Step 8: Cut up what you don't need
Having a wallet full of credit cards is just a temptation to overspend. Once you have found the right credit card(s) for you, cut up those you don't need.