What is the purpose of having a major credit card? Can I control
my spending if I apply for a major credit card? Notice this
piece started out with questions, which I feel are three of the
most important question anyone should ask, seeking a credit
card. If you do not ask these questions before a applying for a
credit card, guess what you will be saying later. Why did I
apply for a credit card? What was my purpose? I wish I could
have controlled my spending. This may or may not happen, but if
you are searching for a credit card, you may want to ask your
self-first, why you need a credit card.
Credit cards include Visa, MasterCard, Citi Cards, HSBC cards,
American Express, and other types of cards. If you are searching
for a credit card, you will need to understand what companies
manufacture the credit cards, since some companies are
replicating, taking people for a ride. You will also need to
know the difference between Fixed Rate cards and Variable Rate
cards. The Fixed Rate cards rarely change their APR, which is
very important, while the Variable Rates are subject to change
anytime they feel needed. The APR or Annual Percentage Rates are
often steep on most credit cards anyway, but for the most part
you will need to learn the difference between Variables and
Fixed to avoid extra charges.
APR rates can start at 9.99% up to 17.99% and sometimes higher.
It depends on your situation, but for the most part many card
offers have the same rates. If you have no credit then you
really need to research the marketplace carefully, since most
card providers will consider you a risk. If you have bad credit,
you will also need to search the marketplace carefully, since
most cards for high-risk consumers have high upfront fees, plus
high APR, and other fees.
The grace period is ESSENTAIL, since if you go over the grace
period you are subject to additional charges. The grace period
can extend to '25' days, sometimes 20 days, and rarely more than
30 days. If you find a card with low interest rates and fees,
with a grace period of 30 days, then hop on it. You are the
lucky one, since these cards are next to impossible to get.
Annual rates are also important, simply because some card
providers charge nominal fees for providing the card to the
client. Many cards offer 0% APR and no annual fees. Be carefully
that you read the Terms & Conditions carefully, since companies
are on the marketplace misleading millions.
Balance Transferring is another issue you want to compare and
consider. The transfers can run into high charges if you are not
careful. Again, you want to remember your purpose of getting a
credit card in the first place, and if that purpose is to
provide you security, then the balance transfer is part of that
purpose to consider. Some companies charge high APR on balance
transferring.
About the author:
About the Author: Hans Hasselfors is the founder of
http://www.SubmitYourN
ewArticle.com. You may find varied
credit card articles in our article directory.
