Credit Cards?

Question

I am trying to apply for my first credit card but somethings are confusing and I don't want to get the wrong one.
For instance some credit cards have say a $200 balance but a $115 dollar one time fee so the amount I can use is $85 until I pay off that $115 and I really dont want to pay for a credit card you know? I want to just have one well yeah.
Anyways I need to know what I should be looking for when it says
Intro APR
Intro APR Period
Regualr APR
Annual Fee
Balance Transfer
Credit Needed
Program Fee
Participation Fee
Additional Card Fee Annually
Grace Period
Minium Fiance Charge
Lay Payment Fee
Over Limit Fee
Monthy Account Maintenance Fee
And what should other charges and additional fees consist of

I am 18 years old and married.
I have little credit established and thought getting a credit card would help me build my credit.
I'm not stupid I just don't want to make the wrong choice getting my first card.
Thanks in advance to anyone who can help me! = )

Answer 1

Intro APR - This is a lower rate than normal and is usually no more than 1 year
Intro APR Period- The lower rate charged for a specific time period.
Regualr APR - the rate you will be charged after the intro rate on purchases not paid off every month
Annual Fee - an amount you have to pay just to have the card, whether you use it or not
Balance Transfer- moving funds from one account to another
Credit Needed - how much you want to be able to spend
Program Fee - a fee to be enrolled in some sort of "reward program I assume.
Participation Fee - same as a program fee
Additional Card Fee Annually - the cost to have someone else have a card on your account
Grace Period - the number of days between when you charge and when you have to pay for it.
Minium Fiance Charge - the least amount you will get charged each month if you do not pay off the balance.
Late Payment Fee - What you get charged if you don't make your payment on time
Over Limit Fee - the fee you get if you charge more than the limit you are given
Monthy Account Maintenance Fee - a fee you get just to have the card each month.

Now- low interest is great, but hard to find on new cards with little history. Also, you may only get 3 months at most at this rate on a new account. On a new card, I'd expect you to find a rate around 21%. Avoid fees no matter WHAT. Look for student accounts at places like Bank of America, Citibank etc. these typically have the lowest fees. Balance transfer are no important if this is your first account. As for how much credit. Start with $500 or $1,000. This keeps you from overspending and carrying a balance each month. Also avoid reward program cards right now as they tend to charge a higher interest rate on balances. Most grace periods are about 25-33 days, and usual minimum finance charges are $.50 (fifty cents) to a dollar. Late payment and over limit fees will kill you at about $25-$50 each. Also, if you are late or over limit, the interest rates can go up over 29% in some states! Again, like an annual fee, monthly fees are crazy to pay. Avoid these if you can.

Good Luck.

Answer 2

Blue Cash from American Express®

This credit card issued by the credit card giant American Express has No annual fee. Coming to balance transfers, the Blue Cash from American Express has a low balance transfer rate. The APR for balance transfer is 4.99% fixed for the life of balance. Another good feature of the Blue Cash from American Express is that it is a 0 Intro APR credit card. It has a 0% intro APR rate for 6 months. The reward program of Blue Cash from American Express gives Up to 5% Cash Back with Unlimited Cash Rewards. This entitles the credit card holder to earn an unlimited cash back on his spendings. Apply online at: http://www.credit-card-gallery.com/American_Express.html

Answer 3

Try to get a no fee card if you can.

You might try to open a savings account at a bank and then try to get a card from them.

ALWAYS pay on time.

If you pay the full amount each statement period you will avoid all the heavy fees. If you pay only the required amount it will take you forever to pay the account off.

Before you sign anything have some one you know go over the terms with you.

Answer 4

Here is a site for beginners in credit. Best bet is to go to a credit union in your neighborhood. As soon as you are a member, you can be considered for a credit card without all the upfront fees. You won't get a high credit limit at first, but they consider you an owner, and not a customer (see sucker). They work for your best interests and not for a stockholder (see bloodsucker).

Answer 5

The answers above covered things well, so I want repeat them. I knocked my score up to 720 with a few cards meant for credit restoration. And I am just 20 yrs. old.
You can find them at

INSTANTACCESSCREDIT.COM

Answer 6

make sure when you are looking for a credit card to get the right one for you be smart compare rates and rewards, www.fastcreditcardapprovals.com let you compare side by side.

Answer 7

here is the best site to compare and choose credit cards
http://tavian07.newcreditapplications.com