Choosing The Best Credit Card To Apply For

Always shop around to get the best deal when choosing which credit card to apply for. If you don't do your due diligence you could end up with a card that has too high of an interest rate, that has an unnecessarily high annual membership fee, etc. Here are some things to look for when checking out the different credit card offers you may receive in the mail.

1. Credit Card Terms:

When using a credit card you are in effect borrowing money from the credit card company. The terms and conditions of credit that you agree to when you apply for the credit card will affect your overall cost. Compare terms and fees before you apply.

2. Annual Percentage Rate:

The APR is the yearly rate that is charged for money borrowed on the card. It must be shown on the application and on billing statements. Some plans are "variable rate" programs. They can change with interest rates or other economic indicators. Some cards also have a short term low interest rate fee that rises 3, 6, or 12 months after you have had the card. Does the card you are looking at getting have this and if so what will you be being charged(APR) after the rate goes up.

3. Free Period:

Do you start getting charged interest from the moment you use the card or is there a "grace period," a free period that lets you avoid finance charges by paying your balance in full before the due date. A credit card can be a real nice way of getting "free" money. You do have to watch out though for the cards that don't offer the "grace period." If your card includes a 'grace period', the issuer must mail your bill at least 14 days before the due date so you'll have enough time to pay.

4. Annual Fees:

What annual membership or participation fees do you have to pay. Most cards have these fees.

5. Transaction Fees and Other Charges:

Many other fees can also be added onto the card and knowing these can make the difference in having a card you want and one you could quite easily live without. For example: some issuers charge a fee for a cash advance, if you make a late payment, or exceed your credit limit. Some charge a monthly fee whether or not you use the card.

6. Other considerations:

How high is the credit limit?
How widely is the card accepted?

All these tips can help you get the best deal when shopping for a credit card. Just remember to look at the fine print on anything that you sign. This is the easiest way to come out the winner and getting the card you truly want is what it's all about...Because Money Matters

James Mercer runs the Because Money Matters blog, http://www.becausemoneymatters.blogspot.com. It is updated each day Monday-Friday giving advice on financial matters that are important to everyone. From credit cards, home loans, stocks, commodities, to scams and scammers that are trying to rip you off. Come on in and check out the advice that could make your life much richer.

---

Why Should You Use Credit Cards

Believe it or not, the way society, especially the commercial... Read More

Comprehending a Credit Report

Obtaining a credit report is an excellent way to begin... Read More

A Debt Mentality

While working through my own debt situation, and helping others... Read More

Bad Credit Credit Cards

Chances are you've gotten your share of offers like this... Read More

Stop Credit Card Offers

You can stop receiving credit card offers in the mail!... Read More

Commercial Collections: Business Finance Booster Shot

Commercial collections: fixture of the new B2B cultureIf you're in... Read More

New Credit Advice: Dont Pay off Those Credit Cards!

Credit needed for real estate mortgage financing differs from credit... Read More

10 Ways To Protect Your Financial Identity Being Used For Someone Else?s Shopping Spree

Someone impersonating you could be spending your hard-earned money.Impossible! Not... Read More

Credit Card Rates - Negotiating Rates with Your Credit Card Company

Ok, let's face it, everybody hates high credit card rates,... Read More

Beware of Falling Minimum Payments

If you opened a credit card statement recently and were... Read More

Teaching Students To Keep Out Of Credit Card Debt - The Parents Role

Parents have the full responsibility for their children and their... Read More

How Healthy Is Your Credit

There's only one way to discover the "health" of your... Read More

What You Need to Know About Interest Rates

For all people shop around for the best rate, there... Read More

How To Survive In A Plastic World, Qualifying For Credit Card

Let's face it, having credit is no longer a choice.... Read More

Know Your Credit Card Rights

When you apply for a credit card, the application that... Read More

How To Choose A Credit Card

Your credit score may just be a little number, but... Read More

SuperCharged Secret 4, Credit Card Utopia

YOU SCRATCH MY BACK, AND I'LL BUY SOME MORE BEER!Let's... Read More

Automobile Credit Report

When applying for a loan to purchase a car, the... Read More

Five Credit Card Billing Problems and How to Fix Them

It goes without saying that your first and best defense... Read More

Credit Suicide

Few things influence the home buying process more than your... Read More

Minimize your Risk for Identity Theft

Identity theft is the fastest growing crime in America. According... Read More

SuperCharged Secret 3, Credit Card Utopia

TURBO-CHARGED KILLER RATE SAVING INFORMATION!Let's just take a brief moment... Read More

How Your Credit History Can Affect Your Life

Your credit history is an important aspect of your life.... Read More

Choosing The Credit Card That Is Right For You

Credit cards represent an important part of our financial lives.... Read More

Credit Cards - Why Prepay?

With prepaid credit cards, you get the practicality of plastic... Read More

How Credit Scoring Works

The all important credit score! It determines the amount of... Read More

Credit Cards: How To Use Them

Credit cards can be a very quick way of getting... Read More

Building A Credit Report Lenders Will Love You For

Will lenders really love you for having a good credit... Read More

Why Credit Cards are a Bad Idea

Credit cards are just so convenient, aren't they? There's no... Read More

Learn How to Improve Your Credit Score

Having a damaging credit record can hurt you in many... Read More

Finding What is on Your Credit Report

A credit report is basically a file about you kept... Read More

Different Ways to Borrow Money

There are many different ways to borrow money. Outlined below... Read More

Sound Advice For First Time Credit Card Users

If you are just entering the world of credit cards,... Read More