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Many people will choose to use a credit card in their lifetimes for the convenience it provides. Credit card access is necessary for many things in this day and age, and not just purchasing. Businesses like movie rental outlets often require a person to show their credit card in order to establish an account. Credit cards operate as both a status symbol and as assurance that the holder can pay off any debt accrued. Furthermore, as the Internet age continues to advance, many people are finding that they can do almost all of their shopping online, as long as they have a valid credit card. It is important in this environment that the average consumer understands the different types of credit card and the various charges that they use. The case in point for this article is the Chase BP Visa Rewards Card. This type of card is probably one of the best kinds, as not only can it be used like a normal credit card, but the user also has the opportunity to earn cash back on purchases made using the card. The key to saving money through a card such as this is to find out which locations you can earn these rebates at, and what the dollar amount attached to these cards is. BP is the oil company recently made famous through the closing of their Alaskan operations, so it is safe to assume that you can earn the higher rebates when you make fuel purchases at gas chains that carry BP oil. "Eligible Purchases" is the key term here when it comes to determining how much money in rebates you can earn. Another area to be very careful with when it comes to credit cards is the fees that they charge. Remember, cards will advertise the best qualities when trying to get a potential user to apply, and the Chase BP Visa Rewards Card is no exception. The card advertises an introductory period of six months. During this time, there is no Annual Percentage Rate for purchases. The key to finding out if this card is right for you is to look at what the APR will be AFTER the introductory period expires. In the case of this card, it will be at a rate of 15.24%, 19.24%, or 23.24%. These APR rates are another way that credit cards have of causing the waters to be a little bit murky. Why the changing APR rates? The reason is that the people in charge of the Chase BP Visa Rewards Card want their users to have the card that offers them the greatest potential of earning profits. Therefore, they will lower the rates for the higher end cards. 15.24% is the APR charged to users of the Elite card, 19.24% to the users of the Premium card, and lowly Standard pricing card users must pay the large 23.24% APR. But there's still more to notice; Standard pricing users are charged that APR from account opening. In other words, there is no special introductory period where the APR is waived if you only want the card that comes with Standard pricing. Credit cards are certainly a convenience and even a necessity, and many credit cards offer attractive programs in order to gain users. It is important for potential applicants to pay close attention to all the aspects and fine print that the application entails, though, before making their decision. |
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