Finance: Credit Cards - Friend or Foe?

Credit Cards - Friend or Foe?

Written by Greg Smith

Continued from page 1

When shopping for a new credit card, comparison shopping is important, because it can save you money. Be sure to consider all of repparttar costs and terms of each of repparttar 141523 credit offers. These can make a real difference in how much in fees and interest charges you will possibly be paying each month. Be sure to compare these costs with any of your existing financial instruments, cards, loans, mortgages, etc. You may be able to replace some of your current debt with less expensive options. Some of repparttar 141524 costs and terms to consider are repparttar 141525 annual percentage rate (APR) for goods and services as well as for any cash advances you may request, repparttar 141526 annual fee, and repparttar 141527 grace period. Also compare other fees, late-payment charges, and over-the-limit spending fees.

Greg Smith publishes timely information on Credit Card issues at http://www.apply-credit-cards.com/ . This article may be freely reprinted as long as the author's information and URL links remain intact.

Guide to Credit Card Terms

Written by John Mussi

Continued from page 1

Credit Report

An assessment of an individual or a company's credit risk. These reports are composed using a variety of informational sources and are used by lenders in order to assess applicants.

Finance Charges

The price paid to a lender for repparttar use of borrowed money.

Fixed Rate

A set annual percentage rate that does not change in response to interest rate changes and conditions.

Interest

The charge that repparttar 141522 lender imposes on repparttar 141523 borrower for repparttar 141524 granting of credit.

Interest Free Period

The period during which no interest will accrue on credit card transactions.

Period

The period during which repparttar 141525 Introductory Rate applies to balances outstanding on your account.

Introductory Rate

A special annual percentage rate that applies for only a limited time.

Minimum Payment

This is repparttar 141526 minimum amount that you will need to pay back each month on your credit card balance.

Online Banking

Online systems enable you to access a host of banking services from a personal computer by connecting with repparttar 141527 bank's computers over repparttar 141528 Internet.

Stands for ‘personal identification number' and is issued to a credit card holder in order to enable them to use cash machines to withdraw money.

Rewards Program

A point accumulating program based on purchases or transactions made on your card.

You may freely reprint this article provided repparttar 141529 author's biography remains intact:

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the www.directonlineloans.co.uk website.

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