There are literally hundreds – possibly thousands – of credit card offers available to consumers these days. So how do you choose the best one? What should you look for in a credit card? How can you be sure that you wont get stuck with high interest rates or a rewards program that doesnt exactly live up to your expectations? In this article, well take your through the major elements of a credit card so that you know what to look for and can make an informed decision about which credit card to choose.
Interest Rate
The first thing that most people look for is the interest rate. Also known as APR (annual percentage rate), this is essentially a percentage that is charged to you, the consumer, if you do not pay your credit card bills on time. APRs change frequently, but once you apply for and receive a credit card you will have that rate for the life of the card. If you can, its always best to pay your credit card bills in full every month this way, the interest rate becomes a moot point and you only pay for what you charged on your card, nothing extra.
Watch out! Interest rates on credit cards can cause severe debt problems if you dont...
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