12 Tips On Picking The Best Credit Card

These are quick tips that can help you in choosing the best credit card:

• How much is the annual fee ?

• What is the interest rate and minimum payment charged ?

• How are interest charges calculated?

• When are interest charges levied on purchases and cash advances ? Do they charge from the day you buy the item, or from a certain date every month ? (In other words, if you pay the credit card amount before this date, you get an interest-free loan.)

• What fees are charged for cash advances ?

• Are there any other fees associated with this card ? If so, what are they ?

• What extra benefits do you get ? Some offer a waiver of annual fees, free insurance, or points which can be used to pay the annual fees ?

• What paperwork do they need from you?

• If you don’t have a credit history, will they accept your chequeing and savings account history ?

• If the bank or credit card company asks for a security deposit, what is the interest rate earned on this?

• Does the government insure the deposit account ?

• Can additional deposits be made to increase the credit line ?