If you ever need help to sort out your financial matters then you will be spoilt for choice as the number of financial management companies grows steadily. I can guarantee your most used financial asset is your credit card.
Figures prove that almost everyone who applies for a credit card will use it within the first month of receiving it. Sometimes it is just for the peace of mind of having the credit card because after all it is probably the most useful object you will eve carry around with you. Whatever the reason you cannot dismiss how convenient it is to have one. By now, you may have had your share of pre-approved credit card offers in your virtual and physical mail. Low APR’s, no fee balance transfers or annual fees are all ways credit card issuers entice new custom. Pushing the right buttons is the way they convince people that applying for a credit card is the right thing to do.
To help you on your way whenever you do apply for a credit card, there are three things you ought to know. Fortunately, there are a number of web sites that can help you learn more about applying for a credit card and the responsibilities it entails. The second rule to follow after you have learnt about credit cards is a comparison of the most popular ones and assess which one is best for you. The final part of this three part plan is to carefully study the terms of the agreement you will make with the card issuer.
When you apply for your credit card you must know what a credit card really is. Whatever else you may consider a credit card agreement is, do not forget that it is a credit agreement that will create a financial burden on the owner. This is why it is so important to carefully study and compare the costs and restrictions that may be placed on your card.
When you apply for a credit card, you must know how the APR or annual percentage rate affects your credit account. Being a measure of the cost of credit expressed as a yearly rate, the APR should be disclosed before you apply for a credit card. For each billing period, a statement is sent out highlighting any finance charges owed for that period as well as the periodic rate of interest. Most new customers are also eligible for a grace period for a number of charges that will be payable later so find out how long this fee free period is. If for some reason you are still unclear at the end of this then contact the credit card issuer and ask to speak to someone about how the charges are worked out.
Author: Thulas SukatiThis author has published 12 articles so far.