Shopping for a credit card can be more complicated than you might think. The applications can be strange, and are often worded in a way that can confuse lawyers who specialize in contract law. With that in mind the best most of us can do is try to understand the cards just well enough to stay out of trouble and get a product we can actually use.
The terms and conditions of any credit application will be complicated and arcane, but with a careful eye you can spot the fees and penalties, which is something you need to understand. APR will also be listed in several places through the agreement, often with different numbers shown. This may seem strange, but your APR will differ depending on how you use your card. Purchase APR is usually different from cash advance and balance transfer APR. Read over and familiarize yourself with the terms below, as you will see them every time you apply for a credit card or pay your credit card bill:
Annual Fees This fee is fairly clear, and defines how much must be paid each year to use the credit card. Some cards dont have annual fees, while other can carry a hefty one. Keep an eye out for this one.
APR This acronym stands...
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