Five Factors To Consider When Selecting A Personal Credit Card
Nowadays many credit card companies offer perks to lure new customers ranging from introductory offers with zero percent interest for transferred balances, Reward Programs offering airline mileage and cash back, and discount programs with select merchants. While these offers may be very enticing, there are five key factors, none of which include perks, that you should consider when choosing a credit card.
FEES
One of the first factors to consider when selecting a credit card is the number of fees associated with using the card and the totality of all of them if incurred. Companies can charge a variety of fees with the most common being annual, closure, over-the-limit and late fees. Because, not all companies charge the same fees and the level of the fees can also differ, it is important to read all of the fine print and details that accompany any credit card offer.
Annual Fee
An annual fee is a membership or participation fee that is charged for having a card. An annual fee can range from $25 to $50.
Closure Fee
Some companies also charge a closure fee when an...
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