Credit cards offer a convenient way for consumers to make purchases. They provide small, short-term loans for products and services, and they are available when the cardholder wants them. Many credit cards offer rewards programs and benefits such as free loss/damage coverage on new purchases and insurance protection. In return for these conveniences, the credit issuer charges high rates of interest on unpaid credit card balances when they are not paid in full. There are many considerations consumers should make when choosing credit cards to meet their needs since cards differ greatly.
You may be tempted by ads and websites that guarantee loans or credit cards, regardless of your credit history. The catch comes when you apply for the loan or credit card and find out you have to pay a fee in advance. That could be a tip-off to a rip-off. If you’re asked to pay a fee for the promise of a loan or credit card, you can count on the fact that you’re dealing with a scam artist. More than likely, you’ll get an application, or a stored value or debit card, instead of the loan or credit card. Read more
To compare credit card terms, think about how you will use your credit card. Do you expect toPay your montly bill in full?Carry over a balance from month to month?Get cash advances?Once you have decided how you will use your credit card, you can use this checklist to compare cards. Information about most of the features is given in the disclosure box that must appear in all printed credit card solicitations and applications. Read more
Shopping around for a credit card can save you money on interest and fees. You'll want to find one with features that match your needs. This information can help you understand the features of credit cards and compare credit card features and costs. The first step in choosing a credit card is thinking about how you will use it. Read more