ith purchases via credit
cards becoming as routine You can easily compare APR rates
as cash payments, having on the internet by logging on to
a credit card has become an web sites that specialize in
integral component in today’s comparing these cards. You can
economy. But how do you figure view a list of all the major
out what makes one credit card credit cards (Visa, MasterCard,
better than another? Firstly, Amex, and Discover), and do an
remember that all credit cards online comparison.
are not created equal. What this
implies is that you need to read However, in order to derive
the fine print and shop around maximum advantage from your
before you make your decision. credit card, you also need to pay
attention to issues such as the
Annual Percentage Rate: One very fees and the grace period.
important aspect of credit card
desirability is the rate of Fees: Usually, a flat fee is
interest or the Annual Percentage charged every year on your card.
Rate (APR) that will be charged. The amount differs from company
Basically, APR is the rate at to company, and card to card. So
which interest is accrued on the be sure to ask and/or check.
unpaid balance of your card.
Grace Period: The amount of time
For example, if the APR is 20.0%, a credit card company gives you
and you carry a $1000 balance for to pay your bill before charging
a year, you'll end up paying $200 interest is referred to as the
(20 percent of $1000) of extra grace period. This period too,
debt annually. This should make can differ from card to card, so
it pretty obvious why low APR's remember to ensure that your card
are preferable. gives you enough time to pay your
bill. pay x amount OR y amount,
whichever is greater," are the
So when you compare the APR’s of culprits when it comes to getting
various credit cards, also nasty shocks. So don’t skimp on
remember to compare the fee and your research!
the grace period. A low flat fee
combined with a reasonable grace In summation, to get a good deal
period and low APR should ensure on a credit card, you need to
that you are getting a good value compare APR, fees, grace period,
credit card. and read the fine print. This
will cover the basic criteria for
These three steps cover the any credit card you purchase.
basics of shopping for a credit Keep these tips in mind, and
card. Remember, however, to read compare low APR credit cards to
the fine print. Your card may find the one that’s right for
spring surprises if you don’t. you!
Statements such as “Customer will
About the Author:
Rachel Noga recommends that you visit http://www.primeratecredit.com for more information on low APR credit cards.
Read more articles by:
Rachel Noga
Article Source: www.iSnare.com 
