So you think credit cards deserve a chance in your financial life.
Probably they do and all that talk about the cards being enslaving are all just that - talk.
Actually, credit cards are simply tools you can either have working for you or against you.
If you're convinced that you're capable of the discipline it takes to make these plastics an asset instead of a liability, then go ahead and start reviewing your choices.
Of course, these are not items you can pick up from the supermarket and start swiping.
You need to carefully study the different companies' terms and conditions that will affect how much you'll be spending both for maintaining your account and for paying off your debts.
Rates, therefore, should take a considerable portion of your time as you decide which provider will be giving you the best possible deal for your specific needs.
One thing you'll need to consider is the Annual Percentage Rate or APR which is the yearly cost you need to pay the credit card company.
And then there's the periodic rate which will be the finance charge you need to pay per billing period.
Rates may increase or decrease and you actually may even get a card that require variable rates from the beginning.
The point is to make sure that the company discloses all the rates that will be included in each package they offer, especially if the card provider proposes a variable rate type of card.
Another thing you need to be fully knowledgeable about is the Free Period or grace period which is the time that lets you avoid charges by paying off your balance way before your due date.
This is very important when you're the type who sees to it that your balance is paid in full each month.
If your card doesn't include this period, the company may charge you a finance rate each time you use your card.
With a free period, however, you should be able to receive your bill at least two weeks before your due date so you could have more time to pay.
There are, of course, many other rates that you need to be aware of before singing any contract.
As you choose the best credit card provider, keep in mind that not all packages are created equal which means you don't only choose a provider for its track record.
You also choose on the basis of your requirements.
For example, if you don't really spend too much,don't go for a card that gives you a huge credit limit.
This, of course, could become a problem when you start being too complacent with all that credit that you're allowed to take.
If you truly want those cards to work for you, think before getting them.
And don't get anything you don't need.
Probably they do and all that talk about the cards being enslaving are all just that - talk.
Actually, credit cards are simply tools you can either have working for you or against you.
If you're convinced that you're capable of the discipline it takes to make these plastics an asset instead of a liability, then go ahead and start reviewing your choices.
Of course, these are not items you can pick up from the supermarket and start swiping.
You need to carefully study the different companies' terms and conditions that will affect how much you'll be spending both for maintaining your account and for paying off your debts.
Rates, therefore, should take a considerable portion of your time as you decide which provider will be giving you the best possible deal for your specific needs.
One thing you'll need to consider is the Annual Percentage Rate or APR which is the yearly cost you need to pay the credit card company.
And then there's the periodic rate which will be the finance charge you need to pay per billing period.
Rates may increase or decrease and you actually may even get a card that require variable rates from the beginning.
The point is to make sure that the company discloses all the rates that will be included in each package they offer, especially if the card provider proposes a variable rate type of card.
Another thing you need to be fully knowledgeable about is the Free Period or grace period which is the time that lets you avoid charges by paying off your balance way before your due date.
This is very important when you're the type who sees to it that your balance is paid in full each month.
If your card doesn't include this period, the company may charge you a finance rate each time you use your card.
With a free period, however, you should be able to receive your bill at least two weeks before your due date so you could have more time to pay.
There are, of course, many other rates that you need to be aware of before singing any contract.
As you choose the best credit card provider, keep in mind that not all packages are created equal which means you don't only choose a provider for its track record.
You also choose on the basis of your requirements.
For example, if you don't really spend too much,don't go for a card that gives you a huge credit limit.
This, of course, could become a problem when you start being too complacent with all that credit that you're allowed to take.
If you truly want those cards to work for you, think before getting them.
And don't get anything you don't need.