Credit Card Education

Choosing the right credit card

In shopping for credit cards, you’ll want to consider three factors. They can help you determine which card to use, because they can help you save money.

The factors you need to consider are:

Annual Fees
Annual fees are once-yearly charges for using a particular card.

Finance Charges
Finance charges are the costs of using credit card. Many credit card issuers charge 18% or more a year on your outstanding balances and cash advances. However, some banks charge less, sometimes significantly less during an introductory period. If you regularly have an outstanding balance, it can be wise to shop for the lowest rate.

Interest Free Period
You will enjoy a 20-days interest free from the date you are billed for all retail transactions (except cash advances and balance transfers)