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What to look for in a credit card?
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12th Dec 2009 by Daniel Cross, ChFC
The first thing to look at in a credit card is the interest rate. If there is an introductory period of a low rate or even 0%, make sure it doesn't reset to a much higher rate than you are willing to accept. Secondly, you'll want to look at any kind of fees associated with the account. Some have annual dues and all charge late fees; make sure everything is spelled out clearly and fairly. The last thing you'll want to do is get a card that gives you the line of credit that you need. A very low credit limit can lower your score because the more you charge, the less your debt to credit ratio is going to be.
The first thing to look at in a credit card is the interest rate. If there is an introductory period of a low rate or even 0%, make sure it doesn't reset to a much higher rate than you are willing to accept. Secondly, you'll want to look at any kind of fees associated with the account. Some have annual dues and all charge late fees; make sure everything is spelled out clearly and fairly. The last thing you'll want to do is get a card that gives you the line of credit that you need. A very low credit limit can lower your score because the more you charge, the less your debt to credit ratio is going to be.
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This answer is the subjective opinion of the writer and not of FinancialAdvisory.com
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11th Dec 2009 In Finance
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Subjects: credit card,