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[C1233]Credit Card Rights Bill

by Jon Francis, Jon

If you're getting ready to apply for a credit card for the first time, you may be concerned about finding the best credit card. Here's a secret little tip for you - there's no such thing as a best credit card. There's only the right credit card for you. And even the right credit card can go woefully wrong if you don't handle it wisely. Here are a few nuggets of advice from experienced credit card users - some of whom learned the hard way how NOT to handle credit cards.

1.Before you apply for a credit card, take stock of your spending and saving habits.
Does money burn a hole in your pocket? Are you the type that does without lunch for two days before payday because you HAD to buy that scarf on sale? If so, credit cards are going to be a dangerous temptation in your wallet. Minimize the dangers of temptation by opting for a credit card with a low spending limit and the lowest interest rate that you can find. That way you can only dig yourself so far into debt before the spending limit stops you.

2.Consider why you need a credit card.
People want credit cards for lots of different reasons, and those reasons can help you choose the best credit card for your situation. If you want the convenience of not having to carry cash, for instance, and a ready record of all your spending - but you don't intend to live beyond your means on plastic, then a good choice for you is a rewards credit card with a mid-range APR. By charging everyday purchases on your credit card, you'll keep a running record of your expenses AND earn cash back or rewards. It's a good plan for you as long as you only charge what you can afford to pay off in full each month. That way you won't be incurring interest on your balance - so the APR doesn't mean much.

3.Choose the right credit card for the job.
The best credit card for charging large purchases is not the same credit card that's right for everyday use for expense accounts and the like. If you need a credit card in order to finance a new computer or refrigerator - something that you'll pay off over the course of the next several months - you'll want a card that has a low APR. If you shop carefully for your credit card, you may even find one that offers discounts on large purchases, and insures any item that you buy with it against loss or damage for up to a year.

4.Read the cardholder agreement in full before applying for a credit card.
There's more to your credit card than just the APR. Before you choose a card, take the time to read ALL the fine print. Total up annual fees, application and processing fees, late fees, transaction fees and any other charges that may be hiding behind the legalese so that you know exactly what it will cost you to apply for and use each credit card.

That last is especially important. Shop as carefully FOR your credit card as you will WITH your credit card. If you don't, you could find yourself in a situation where your new credit card arrives - complete with a balance of ?150 in application, membership and setup fees that nearly eat up your entire available credit balance.

At moneyeverything.com, you can compare all the terms of dozens of credit card offers to find the best credit card for you, then apply online for the credit card that works the way that you need.

If you are hunting for the best possible deal and the best credit card company, you will obviously need to look around at what you have to choose from and what works best for you. The first thing you will need to decide when choosing a credit card, is why you need one. Some people choose to get a credit card for cash flow purposes. With a credit card, you can make purchases, leaving your paycheck or other income source in your bank account to draw interest. This way, your money can increase while you continue to buy the things you need. Then at the end of the month, you may simply pay your bill.

Others will choose a credit card and use it for instant cash purposes. This way, they can use their credit card at an ATM and get instant cash, which is great for travel or going on an long vacation. If this is why you want a credit card, you should look for one that has the lowest rate possible for instant cash transactions.

With a credit card, you will also need to think about the payments. You will need to determine if you want to pay the balance in full each month, or the required amount. When you choose your credit card, you should look at the introductory rate, balance transfer rate, and other options that may apply to new credit cards and new card holders. Some credit card issuers will offer you truly exceptional deals, especially if you have good credit.

Another significant area to peruse when choosing your credit card is the incentives. There are a quite a few cards out that will give you incentives, i.e. reward points and cash back with purchases, cash back that you may use towards paying back what you owe on your card. There are a few incentives types available with credit cards, all you have to do is look around and compare.

A key area you will need to look at and compare is the APR (Annual Percentage Rate). The APR is what you will pay on what you buy when the incentive period runs out. APR rates will vary among credit cards, so it is always in your best interest to compare and shop around. The lower APR rate you obtain, the better off you will be.

Another important concern with choosing your credit card is the minimum monthly payment amount. Most minimum payments will start around 3% of the credit card balance; though some can be lower others tend to be quite a bit higher. The interest free period is a concern as well, as you will obviously want to choose the longest interest free period available to keep the payments down.

When you make that final choice and decide upon your credit card, you should make sure you know exactly what you are getting. Credit cards are great to have, but they can lead to a financial downfall if you do not choose and use them carefully. If you put some time and research into choosing your credit card, you will find the best one for you. As long as you take care of your credit card and pay the bill on time, you can help raise your credit limit and later be able to purchase even bigger items - such as a car or, perhaps, even a house.

Article Source : The Truth About Credit Cards

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Both Jon Francis & Angelknight 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.

Jon Francis has sinced written about articles on various topics from Credit Cards, Credit Cards Benefits and Credit Cards. Jon Francis has been involved in various areas with the world of finance and has a keen eye for a bargin! He has an in-depth knowledge of the mar. Jon Francis's top article generates over 90500 views. to your Favourites.

Angelknight has sinced written about articles on various topics from Credit Cards, American Express Card and Business Credit Cards. Art Taylor has been a successful internet marketer for 10 years. He writes articles about credit cards and other topics. For more information or to apply for credit cards visit his websites at:. Angelknight's top article generates over 9900 views. to your Favourites.