Things to consider when choosing your credit cards

Like most of my friends, who loves to flash their plastic cards, they don’t always make the best decisions when choosing their credit cards. Instead they chose the cards that has the highest credit limit and then spend away. Here are some things to consider when looking for a credit card:

• Many banks and credit cards charge you annual fees for the card to lend you the money. You want to make sure you find out all the (hidden) fees that they come with before making that decision to accpet the card. If the card has an annual fee, call and negotiate. Most lenders will take the fee off if you threaten to take your business elsewhere.
• Some cards have no annual fee, or don’t charge the fee if you spend more than a certain amount with them each year. You want to carry a card that has no annual fee, a 25-day grace period and an APR thats 12% or lower. If the card’s APR is higher than 12%, call and negotiate.
• Many cards now have introductory offers, such as 0% charges on your old balance for six months if you transfer to them. Beware of being landed with a very high APR at the end of the interest-free period.
• Your introductory rate should last at least 6 months.
• If you’re already in debt, not very organized or good at handling money, maybe a credit card is not necessary for you.

Some credit cards also offer purchase protection, temporary insurance against damage to your goods or theft and this is generally free of charge. Payment protection can also be arranged at a cost, which you can design to pay it on a monthly repayment plan. When choosing your credit card, you should definitely do your research and don’t be so quick to take the card with the highest credit limit.

Using a payday loan for short term cash crunches is less expensive than bouncing a check.
" alt="468 ad" class="foursixeight" />