Here are some basic guidelines to help you find the best credit card offer for your particular situation. Credit cards are big business and are issued by stores, banks, and credit unions. It pays to check out the credit card lender just as they check your credit score. Why try to do business with a company that has a history of complaints and unscrupulous business practices. Use the Consumer Protection agency to check on the credit card issuer.
The annual percentage rate is very important to you. Don’t get lured in by a low introductory rate that can increase after 90 days, 6 months, or a year. The practice of offering a low interest rate to get your business is widespread. It is best to stick with a fixed rate.
Stay away from cards that charge an annual fee. Why pay for something that hundreds of other lenders will give you for free?
Most credit cards have a higher interest rate on a cash advance. Avoid cash advances on your credit card. But also be sure you understand how the interest on a cash advance is calculated and what the interest rate is for a cash advance.
Make sure you understand fees. Credit card companies charge late fees, over credit limit fees, and some may even increase interest rates for late payment. Avoid credit card lenders who have the Universal Default Clause in their credit card contract. This allows the credit lender to raise your interest rate for late payment.