Having a good credit score is always good and you will be getting many companies offering you credit cards. Not sure what factors you need to consider to find the right card for you? Then this is the right post for you.
Chances are you have received 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.
A credit card is a form of borrowing that often involves charges. Credit terms and conditions affect your overall cost. So it’s wise to compare terms and fees before you agree to open a credit or charge card account. The following are some important terms to consider that generally must be disclosed in credit card applications or in solicitations that require no application.
Annual Percentage Rate:
The APR is a measure of the cost of credit, expressed as a yearly rate. It also must be disclosed before you become obligated on the account and on your account statements. Some credit card plans allow the issuer to change your APR when interest rates or other economic indicators – called indexes – change. Because the rate change is linked to the index’s performance, these plans are called ‘variable rate’ programs.