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Choosing and Using Credit Cards
More likely than not, you would have been the recipient of a fair share of the credit card offers that pour into mailboxes everywhere, offering everything from low introductory rates to extra perks. Most will try to convince you to hurry and act before the offer expiry. But don’t accept any unless you are clear about the facts.
Credit cards are merely a means of borrowing for extra charges. The terms and conditions of each card has an impact on the overall cost. Therefore compare the terms and feeds of different cards by all means before deciding on one. Certain terms are of great importance which you need to be aware of.
The Annual Percentage Rate or APR is the yearly cost of the credit service. You need to know this before making a commitment. Another important factor that the issuer needs to inform you about is the periodic rate that is applied to your outstanding balance to determine the finance charge for every billing period.
There may be credit card plans where the issuer can change your APR due to changes in interest charges and indexes. As the rate charge is affected by the index performance, the plans can also be termed variable rate programs. Credit card info.com reports:
Chances are you've gotten your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the offer expires." Before you accept, shop around to get the best deal.
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