Are your credit card fees excessive? Find and apply for no annual fee credit cards at our site. Are interest rates on your credit cards very high? Find and apply for low interest credit cards at our site. Looking for a credit card that gives you something back for each purchase you make using the card? Check out our cash back credit cards and credit cards with reward points and air miles credit cards. Or perhaps you are looking for that great card which offers no annual fee, a low interest rate for purchases, a long grace period, and incentives such as travel rewards or cash back rebates? Feel free to browse our credit card listings by category and then sort the listing by factors such as introductory interest rate, ongoing interest rate, cash advance interest rate, and annual fees. After finding a card which interests you, click through to the issuers site using the link provided and apply online. In many cases you will receive an instant online approval. Otherwise, you will receive instructions such as how to provide additional information such that the card issuer can proceed to make a final decision on your application. If you are approved, you will often receive your card shortly within 8 through 10 business days.
READ AND UNDERSTAND YOUR CREDIT CARD TERMS
Whether you are applying for a low interest card, a $0 annual fee card, or a cash back card, it is crucial that you read and understand the card's terms before applying. Preferably you want to apply for a credit card which offers no annual fee, incentives such as cash back or reward points, and a low interest rate for purchases, balance transfers, and cash advances. The following are some important points you should keep in mind when comparing credit card offers.
ANNUAL FEES
Many credit cards offer $0 annual fees. Other credit cards such as those which offer air miles may typically charge an annual fee. You need to weigh the costs and benefits of such cards carefully. If you feel that you can accumulate enough reward points then the annual fee may turn out to be a small cost for you. On ther other hand you want to avoid paying annual fees for such cards if you there is a good chance you may never earn enough reward points.
INTRODUCTORY Versus ONGOING INTEREST RATES (APR)
When reviewing various credit card offers, be careful to distinguish between the 'introductory' interest rate if any, and the ongoing interest rates. Although the introductory APR may be temptingly low, keep in mind that these rates typically last only for a fixed amount of time such as 6 months. Afterwards, you will become subject to the ongoing interest rates which may be much higher.
FIXED Versus VARIABLE INTEREST RATES (APR)
When reviewing various credit card offers, check to see whether the ongoing interest rates are fixed or variable. Variable rates are usually tied to an index such as the PRIME RATE as published in the
Wall Street Journal. A credit card with variable interest rates can cause your interest rate to change monthly or quarterly depending on the terms of your card.
Keep in mind that a variable rate in itself is not good or bad. When rates are low, variable rate cards may offer some great rates. And understand that your interest rate for even a 'fixed' rate credit card can vary. However, according to federal law, issuers must give written notice of rate increases to fixed rate cardholders which thus tends to make 'fixed' rate cards less variable then 'variable' rate credit cards.
TRANSACTION and OTHER FEES
Certain credit card issuers charge a fee if you use the card to get a cash advance; if you fail to make a payment on time; and/or if you exceed your credit limit. Some credit card issues may also charge a flat fee every month whether you use your card or not. Read the fine print and know the transaction fees and any other charges which you may be subject to before signing up for any credit card.
Credit Card Facts You Need to Know
Credit Card Facts You Need to Know 1) CREDIT CARDS WITH NO GRACE PERIOD
Avoid credit card offers which have no grace period. No grace period means you may be subject to finance charges which start accruing from day one of your first purchase. This is regardless of whether you pay in full each month.
2) LIMITS ON GRACE PERIOD
Many credit cards typically offer a 20-25 day grace period which allows new purchases to be excluded from calculation of finance charges. Beware however that if you carry a balance from month to month, most cards provide no grace period on new purchases. So in order to take advantage of your credit card's grace period, pay your credit card bill in full each month.
3) LOW INTRODUCTORY RATES
In case you come across credit card offers which seem to offer a credit card with an incredibly low interest rate, check to see whether or not the rate is an 'introductory' rate. Introductory rates are typically for a limited period of time, such as 2% for the first 6 months. After the introductory rate period has passed, you will be subject to the regular interest rate which is likely to be higher. While introductory rates are great while they last, remember to also learn about the on-going rates before signing up for any credit card. Read more
Credit Card Facts You Need to Know
