These days, there are so many options and choices about which credit card to choose, so many offers from a whole range of lenders and card providers, that no one has to accept the fist credit card offered to them. Most people shop around, and pay careful attention to the true and full costs and benefits of each card before deciding which one to opt for.
The cost of most credit cards is calculated according to the stand annual percentage rate, or APR, formula used for all lending. This formula gives a uniform figure for calculating the cost of any credit or loan in the entire market place. Therefore, all credit cards have to tell you clearly what APR they charge.
However, the APR will never give you the complete picture of what the cost of the card will be. There are many other factors that must be taken into account. Most credit cards do not charge an annual or monthly fee any more, but there are still many cards, especially those with better rates and terms, that do come with a subscription fee. This must be paid no matter how much you use the card, and whether or not you use the card at all.
What charges should I look out for?
As well as this...
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