Wow, 0% is a great offer, isn't it? Maybe, maybe not. No credit card is going to offer you a 0% interest rate for the life of the card. They're in this business to make money and if they're not charging you interest, their coffers will run dry. The question you need to ask is how long is that 0% interest rate for and what's the rate going to be when it's over?
Some credit card offers feature a 0% intro rate for six months to a year and then raise the rate to a reasonable 10 to 16 percent. Other cards, however, jump your rate to 20 percent or more once your introductory offer ends, and that's not a good deal at all!
Be very careful and know what your "real" rate is before agreeing to any credit card offer.
2. Annual What?
Just when you thought annual fees were a thing of the past, more and more credit card offers contain them. If you have decent credit, there's absolutely no reason for you to pay an annual fee (unless the card offers some amazing perks that outweigh the expense). There are dozens of good cards on the market that don't charge a yearly fee for the privilege of carrying the card.
3. Too Good to be True?
If you have bad credit and you're desperate for a credit card, the not-so-honest credit card offers may begin to appeal to you. A $5,000 credit limit at 9.9% with guaranteed approval sounds wonderful, doesn't it? All you have to do is send in your $197 processing fee.
Remember what mom said -- if it sounds too good to be true, it probably is. Don't fall for the credit card scams disguised as credit card offers. Never pay up front for a card unless you're sending in a security deposit to a reputable secured credit card company. If you do, you'll be throwing away your hard-earned cash because chances of you actually receiving a card like the one above are slim to none.
Remember, not all credit card offers are the same and they're not as informative as the card's Terms of Service. Credit card offers are created by marketing companies for the purpose of enticing you to sign up for the card (or fall for a scam) -- be smart and get the dirty details of any card you're seriously interested in applying for.
Having a credit card is very convenient since carrying a lot of cash becomes unnecessary and you might even have a hard time leaving your credit card at home. But with its advantages comes also its disadvantages. Since you can always buy things without carrying cash around, you are always tempted to buy something that you come across. If you have excellent control on your finances then good for you. If you have a hard time managing your credit card, then these pointers can help you.
Get organized
First thing's first, obtain your credit card records to have a better idea of your spending. Be sure to double check the records for errors and ensure its accuracy. A good example would be to find out if you have outstanding debts that should not be there as well as the accuracy of the listing of your former and present address.
Evaluate your credit card
Go over your recent credit card records and look at the interest rates. Some credit card companies have promos wherein they offer lower interest rates for a period of time and this promo may already be over yet you have no idea and are already paying at a higher interest rate. Also take note of the membership fee, which they charge annually since some have very high membership fees. Consider cancelling this if you are not using it frequently.
Pay on time
It is important to pay your bills on time since it can have a negative effect on your credit record or rating. You will also be able to avoid getting charged because of not paying on time. Try asking the credit card company to remove the overdue charge if you have forgotten to pay it on time for the first time.
Manage your debts
If you see that you have more debt than what is comfortable, think ahead and plan out how you will repay it or at least reduce your debt. Devise a way to pay more than what is required of you so that you will have a reduced payment schedule. Prioritise the card that has the highest interest rate. Do not bring your credit card always when you go around since temptations abound.
Don't bite more than you can chew
As the saying "don't bite more than you can chew" goes, do not spend more than you can afford. True, a beautiful gold bracelet may be enjoyable to wear but its price tag may mean paying a lot for the next months. If you are bent to save money when using your credit card, unnecessary items like jewellery and the like should be at the bottom of your considerations.
Both Sean Masterson & Carol Bell are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Sean Masterson has sinced written about articles on various topics from Debt Reduction Consolidation, Credit Cards and Student Credit Cards. For more tips on credit cards, saving money and avoiding getting taken, check out , a website that specializes in providing credit card tips, a. Sean Masterson's top article generates over 40500 views. to your Favourites.
Carol Bell has sinced written about articles on various topics from Skin Care, Credit Cards and Vitamin and Mineral Supplement. Carol Bell is the author and webmaster for and also owns the article site. Carol Bell's top article generates over 9900 views. to your Favourites.