Credit CardsHandle Them With Care

By: Aj Adams

Credit cards can be useful financialtools, but they can also get you into a lot of debt if you use themimproperly. In order to make the most of a credit card, you shouldlook for certain things when deciding which credit card you will use.If you make your decision carefully, you can avoid a lot of futuregrief.

Part of your decision will hinge on howyou plan to pay back your debts. If you know that you can pay backyour balance in full every month without carrying over any debt, thenthe APR won’t matter. The APR refers to the interest rate ofcarrying over a balance. If you pay it back every month, then youwon’t be affected by a high APR! With this type of card, you willbe able to find a deal with no annual fee, and longer grace periods(extra time to make your payment).

If you plan to use the credit card as asort of long-term borrowing tool, then a high APR will be financialsuicide. You should look for a deal with a low APR rate, but makesure to read between the lines. Some credit cards offer introductoryAPR rates that are quite attractive, but will change to a lessappealing rate after several months. You should also beware ofpenalty APR rates that charge extra money if your balance exceeds acertain limit.

One thing you will quickly realize isthat credit card companies frequently hit you with unexpected feesand charges. That is why it is important to read the contract theygive you, no matter how intimidating it is. Find out exactly what youare getting into, and you will be able to use the credit card to yourown benefitPsychology Articles, to assist you in your financial troubles instead ofcreating new ones.

Most Read Articles On
"Credit Cards"
Credit Cards
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Credit Cards
 



Share this article :
Click to see more related articles