Credit Card APR Rate--Do CC Companys still charge APR if.......?

Question

I want to apply for a Credit Card, BUT..

I am 20, and dont have credit.

Anyway, My question is.. Do Companys still charge the APR rate if you pay off the charges before a month or so?

Also if you have any suggestions as to what company to go with.. please let me know. Thanks in Advance

Answer 1

APR -- These three letters are going to make or break (mostly) your credit card experience. So, the better you know it the more you stand to gain. Technically standing for Annual Percentage Rate (APR) it denotes the amount of interest the credit card companies will be charging you over your credit card debt. Every credit card issuer is obliged to tell the customer about APR. Though just a number, the APR comes in different flavors.


1. The introductory APR:

This APR is the rate at which credit card companies will charge you from the beginning. It could be a low rate on your balance transfers or 0% initially to lure you into buying the credit cards. Most credit cards with 0% introductory offer come with this rate for a predefined period like for 6 months, 12 months. Credit card companies also offer low introductory APR like 4.99% etc. on balance transfers for a limited period. After the introductory period is over the APR switches to a high rate. If you wish to dispose off the credit card within the introductory APR period, technically you can get a low rate or maybe a 0% APR if the credit card offers. Read more about it at: http://www.credit-card-gallery.com/article/203,5_must_know_credit_card_APR_types_to_save_more

Answer 2

Most credit cards give you what is called a "grace period" and that is the time that you have to pay after making a purchase without incuring finance charges. Go ahead and apply for a credit card but make sure its from a reputable company (ie: Citicards, MBNA, etc...), that there is no annual fee, and that there is a grace period. As with my credit card that I received while I was still a college student with no income, I get a bill at the end of the month with the previous 30 days worth of bills, and I then have about 3 weeks to send them my money after that bill. I have yet to ever pay any fees or finance charges (going on 5 years).

Answer 3

They're getting much sneakier and nastier these days. Read all the find print before you open the account. By law they have to include it in the application package.

If you're searching online, call the 800# and request a paper application so you can keep a copy for your files. And read the fine print they send out every month that changes the previous fine print.

Pay your bills on time, and don't get addicted to easy credit.

Scott

Answer 4

Although some cards do not charge if the entire balance is paid in full ,
There is usually only about 20 days from closing date to the due date ,
Then subtract the week it takes the post office to get your statement and you really have less than 2 weeks to get it paid.
Smart move to keep it all paid , just do it in 2 weeks.

Shop for cards with no annual fee . . .
Click on the credit card tab . .

http://www.bankrate.com/brm/default.asp