Do you plan to apply for a new credit card? If yes, choosing one can be a challenge especially with the many choices of credit cards in the market. The question is, how can you know for sure which credit card is best? This article provides tips for you:

Fees and Interest Rates

Of course, you’ll want a credit card with a reasonable interest rate and fees. But watch out for credit cards with teaser rates and promotional offers! See to it that you do not make a choice based on the teaser rate alone.

When the introductory period expires, what will happen to the low rate? Will you be stuck with a high-rate card? How long will the low rate last and how much will the regular APR be? Does the credit card charge other fees to make up for the low rate?

Keep in mind that promotional offers are not meant to last for a long time.  Before making a decision, carefully consider the long term implications of your decision.

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Terms and Conditions

Credit card companies are mandated by the law to reveal all terms and conditions in the credit card agreement. This is why consumers are strongly advised to spend time and effort reading the fine print. True, the very small texts and the lengthy agreement can be discouraging to read. But if you want to make sure that you’ve found the right credit card, never overlook this very important step.

Credit Card Disclosures

What are credit card disclosures? These are specific statements usually found at the bottom of the Terms and Conditions page. These statements disclose or explain the exact rules, pertaining to some offers that are marked with an asterisk or other symbol, indicating that the offer is subject to certain conditions.

For example, let’s say that the credit card offers a zero introductory rate. You will find an asterisk or symbol at the end of the statement, which means that the zero APR offer is only applicable if the credit card issuer’s requirements are met.

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When you read the disclosure, you may discover that the zero introductory rate will only apply for cardholders with good to excellent credit scores. If you have an average credit score, you may not qualify for this offer at all.

Hence, it’s very important to read the fine print, particularly the disclosure statements before signing up for a credit card.  The offer may not be as good as what the advertisements try to make it appear.

About the Author

Melanie Mathis is a credit analyst and a writer for 8 years. She has been participating in the programs of NHBS, Inc such as their continuous effort in giving out Free Credit Repair and Building Ebook. NHBS also has a list of recommended Credit Cards for Bad Credit

 

Information in these articles is brought to you by www.newhorizon.org. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.

About Melanie Mathis

Melanie Mathis is a credit analyst and a writer for 8 years. She has been participating in the programs of NHBS, Inc such as their continuous effort in giving out Free Credit Repair and Building Ebook. Connect with Melanie Mathis on Google+