Consumers in New York should be wary of the many types of credit cards that are out there. If you plan to keep your finances in good shape, be sure to pick a good credit card. If you do not spend serious time considering the many options that are out there, you might find yourself with a card that is slowly eating your savings.

A poorly chosen credit card can lead to financial struggles that may end with a bankruptcy filing. Those that already have a bankruptcy filing on their financial records should be even more careful when choosing a credit card because their finances and credit scores have already taken a considerable hit. A second round of bankruptcy will likely cause even more issues.

Experts at CardHub.com have pinpointed some of the most common ways that credit card companies try to prey on consumers. Those that are already in debt sometimes are able to use balance transfer cards to assist in their debt repayment. But there are balance transfer cards that charge annual fees near $500 in addition to balance transfer fees, which many transfer cards possess.

Many people that have filed for and completed bankruptcy come out and want to begin working on their credit score. Those that are determined to do so may find themselves looking at cards that have the following features: a $95 processing fee, a $75 fee for the first year, a $45 fee for any other years, a 25 percent fee on credit limit increases and an interest rate of 36 percent. This is astronomical and is likely to be detrimental to your finances. Those trying to work on their credit should consider a secured credit card, according to one credit expert. These cards often have an upfront fee that is fully refundable if the card's balance remains paid.

Source: Daily Finance, "Credit Card Horror Stories: 5 Ways Scary Plastic Murders Your Finances," Tim Beyers, Oct. 31, 2012