You know how credit card companys send you many offers in the mail? Well, what makes an offer good? And what should you look for? Anything that might come back later to haunt you?
2006-11-29 15:41:10 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
Make sure to read the fine print. Many credit card offers say things like "0% APR until January, 2008!" But after that introductory period, the APR often skyrockets. Look for offers that feature a locked APR, instead of a "variable" APR.
2006-11-29 15:56:26 · answer #1 · answered by ratzerman 2 · 0⤊ 0⤋
Annual fees. Also make sure to check for interest. Each transaction can be a different rate. Balance transfers are normally interest free for 6 months if you get a good card. If you withdraw cash from and atm or bank from your credit card the rates are all different than regular purchases. Check for the lowest ones.
I would recommend checking out benefits as well. Some credit card companies offer miles...etc.
2006-11-29 17:31:25 · answer #2 · answered by smile4cobra 3 · 0⤊ 0⤋
The things you really need to pay attention to is the APR! If you have bad credit, its good to pay your bills on a timely manner to build your credit over time. Annual Fees, and Enrollment fees are another thing to look at, which many credit card places do offer FREE or none for both of these! Online billing, and you should research their website before enrolling!
2006-11-29 15:47:21 · answer #3 · answered by a_correa4 2 · 0⤊ 0⤋
Here are important questions that you need to know about a card before accepting their offer:
What are the APRs?
-There may be multiple APRs on a credit card. i.e. purchases, cash advance, balance transfers, default payments.
How long is the grace period?
-Amount of time you get to pay for your bill in full before they start charging interest
How is the finance charge calculated?
-Your outstanding balance may be calculated over one billing cycle or two,using the adjusted balance, the average daily balance, or the previous balance, and including or excluding new purchases in the balance.
What are the fees?
-Aside from APR they may also charge you annual fees, balance transfer, cash advance, set-up fees and various other fees.
How much is the credit limit?
-If you get offered a huge credit limit, and are affraid that you may not be able to control yourself, request to have them lower it. After about six months of up to date payments, you can also ask for an increase.
What kind of card is it?
secured (you need to give them a security deposit), unsecured (no deposit), premium (gold, platinum status) Different types may offer different incentives and benefits.
Does the card offer incentives and other features?
They may offer frequent flier mileage, rebates, discounts on purchases with different retail or hotel chains.
The Federal Reserve System surveys credit card companies every month: http://www.federalreserve.gov/pubs/shop/survey.htm.
You can get up to date info by contacting the companies yourself.
2006-11-29 16:08:52 · answer #4 · answered by S K 2 · 0⤊ 0⤋
The only thing I care about is whether there is an annual fee -- if so, the application goes in the trash. (The burn bag, not the standard trash.) If you always pay the bills on time and in full, never go over limit, and never give them a bum check, then it's free. And that suits me just fine.
2006-11-29 15:59:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
credit card details it useful to you
http://www.freewebs.com/creditcard4all
2006-11-29 16:30:07 · answer #6 · answered by Anonymous · 0⤊ 0⤋
a paper shreader pay cash it will save you tons of money in the long run
2006-11-29 15:52:51 · answer #7 · answered by Tammy F 5 · 0⤊ 0⤋