Guide in Identifying the Best Deals On Credit Cards

Looking for the perfect credit card is surely not easy with all the many choices of credit cards around you. What specific factors should influence your decision? This article focuses on the credit card attributes and how they should affect your choice.

 

Basic Credit Card Features

Best Deals On Credit CardsInterest Rate. A low rate card is very important since this is the fee you will be charged with each time you carry over a balance in your account. Even if a credit card offers a zero interest, you want to make sure that the regular APR will still be reasonable when the introductory period expires.

Here’s another thing to remember about credit card rates. Some cards impose more than one APR. That means the rate that applies to your purchases may be different from the rate that applies to your balance transfers and cash advances. Before signing up, make sure that you clearly understand how your rates are calculated.

Annual Fees. Watch out for credit cards with very expensive annual fees. This is especially true for credit cards with rewards. Sometimes, the bigger the rewards program is, the higher the annual fee. Fees can range anywhere from $50 to $80 or more. Seriously consider if the card is worth paying $50 a year to keep your account active.

Late penalty fees. All credit cards impose a penalty fee if you are late in submitting payments. Although it is your obligation to pay on time, you must avoid credit cards with excessive penalty charges. Remember, additional fees can cost you more than the original amount of your purchases.

Grace period. A sufficient grace period is crucial as it is the period for you to pay back your debts without incurring interest. The ideal credit card must provide at least 25 to 30 days of grace period.

Transaction fees and miscellaneous fees. Read the fine print and pay attention to the smallest details or fees associated with your card. For example, if you are getting a zero interest balance transfer card, you want to check the transaction cost for every balance you transfer.

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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NHBS Inc © 2022

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

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