By Ed Vegliante
Ahh, credit cards. All those offers, tons of fine print... whatdoes it all mean? Whether you're applying for your first creditcard or are a long-time cardholder investigating alternateoptions, it's wise to get the facts before moving ahead with anew plan of action. Read on for anwers to commonly askedquestions.
What's a low interest credit card?
A low interest credit card offers reduced APR (annual percentagerate) for cardholders with an excellent payment history. If youconsistently pay your total monthly balance, or if you at leastpay the minimum payment due on time, you may be eligible for alow interest credit card. Look into money-saving options with alow interest credit card!
Exactly how low are we talking?
First-time credit card holders may be required to pay anywherefrom 17.999%-23.99% interest on your balance per month. Ifyou've maintained good standing with your credit card companyfor at least a year, you may be able to have your interestlowered to 12.9% or even 10.24%.
Are the offers for 0% APR too good to be true?
0% APR credit ard offers are real and legitimate promotions thatcan save you a ton of cash in the long run. All it takes is abalance transfer from your existing credit card. Depending onthe promotional details, you can enjoy exceptionally low ratesfor as long as a full year. Smart consumers know that offerslike these are a great way to start chipping away at thatoutstanding debt and get back on track toward financial freedom!
What's a cash back credit card?
A cash back credit card affords solid value to cardholders whopay their balance every month. Interest rates are typically thehighest, but that's not a concern for a customer who incurslittle or no debt. With this type of credit card, you'll earnrebate dollars which arrive in the form of mailed checks. Freemoney back on purchases you'd be making anyway... now that's awise move.
How much money can I earn with a cash back card?
For every supermarket, gas station or drugstore purchase, atypical cash back credit card reward is 5%. For most otherpurchases, 1% is given. To put this in perspective: if you spend$2,000 on merchandise that yields a 5% return, you'll earn $100cash back.
When can I expect to be paid?
Credit card companies have now put the ownes on their customersto request payouts for cash rebates. So make that call or put inthat online request during the time that the card is active, andreap the rewards of a credit card that just keeps on giving. Nomatter which offer you're considering, read the Terms andConditions and keep a copy of this information handy. This way,you can take advantage of every opportunity to save money whilebuilding your credit. Before you know it, you'll be makinginformed credit card decisions with confidence!
Copyright 2005. Ed Vegliante. All rights reserved.
Article Source: www.ArticlesBase.com
