| |
| |
| |
| |
Make sure you
understand the basics of credit before applying for any type of credit
card.
|
| |
| |
| |
| |
|
|
| |
| |
| |
|
| |
| |
| |
| |
| |
| |
| |
|
|
|
|
 |
|
Credit
is simply another word for the right to borrow money.
The word credit comes from the Latin for" I believe", which
makes sense: when a banker gives you credit, he is saying, in effect
"I believe you'll repay me". To this day, the way that person
handles credit is considered a mark of his or her personal
Integrity. What's
equally important, the way you manage credit can make or break your
financial future. That's why it is one of the most crucial keys to getting
your finances in order. In
the US today, credit is rather widely and easily available. This is
generally a good thing as it promotes a lot more financial possibilities
to the everyday public. |
|
| |
|
|
Credit
Cards - The Basics
A credit card allows users to withdraw cash, buy online, book hotels, rent
automobiles, and make purchases without cash on hand . Even if we don't
have the cash at home or in the bank credit enables users to purchase
goods and services immediately.
The Creditor grants a line of
credit through the card that is given to the user. Credit card companies then mail a
bill for the incurred expenses typically between 20 - 28 days, this period of time
is called the "grace period".
Included in the credit card bill
is the APR (Annual Percentage Rate) this determines the amount of interest
that needs to be paid back to the creditor for the privilege
of being
|
| lent money.
|
| |
|
When paying your bill you are given the option to pay the "minimum
payment" (a small portion of the credit card balance) or pay a larger
payment.
Paying more of the balance means less interest paid to the
creditor.
If the whole balance is paid off in full every month
no interest will occur and no interest will be needed to be paid at all.
|
|
 |
|
What To Consider
When Shopping For A Credit Card
When shopping for a credit card, you should want to look at all factors, such as:
- Credit Limit - Credit limits
vary Ideally you want a credit limit to be high enough to meet your needs.
- APR - If you plan to pay bills
in full each month, the size of the annual fee, and not the periodic and
annual percentage rate, may be more important. If you expect to use credit
cards to pay for purchases over time, the APR and the balance computation
method are important terms to consider.
- Grace Period - Knowing the
duration of the grace period is important as it represents the time period
you have to pay your credit card bill.
- Annual Fees - Secured credit
card issuers charge annual membership or other participation fees. These
fees range from $25 to $50 for most cards. However most "unsecured
credit cards" do not charge a annual fee, but do require reasonably
good credit history.
- Acceptance - Not all credit
cards are as widely accepted as each other. The four main credit companies
are: Visa, MasterCard, American Express and Discover, with Visa being the
far most world wide accepted credit card.
-
Credit Card Deals - Almost all
unsecured credit cards today offer some kind of "perk"
i.e. Air Miles, CashBack,
Merchandise Point, Insurance, 0% intro APR or simply a low interest rate.
How Do I Apply
For A Credit Card Online?
PaylessBills!com will
help provide you with the information you need to choose a credit card for
you. We wish our visitors to learn as much as possible about the ins and
outs of credit so we have divided the credit part of the site into four
parts:
Click on the credit card type to learn more...
|
|
|
| |
| |
| |
| |
| |
| |
| ©
2003 Payless Bills, Inc. All Rights Reserved. PaylessBills!com is a
registered trademark. |
|
| |
|
