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Credit Cards
Low cost credits cards are everywhere and
the features are multiplying. With many companies
offering online application and nearly instantaneous
approval, opening a new credit card account
can take moments.
How do you find the best mix for you?
Here
are the features to consider in determining
the best mix for you:
- No annual fee for having the card
- Low annual percentage rate (APR). Many cards
offer 0% for balance transfers and
new purchase
for up to one year. After that they
revert
to a higher regular rate, but there
is no
need to hold credit cards that have
high
APR's.
- Grace period - look for cards that offer
you up to 30 days after the closing
date
of the statement until you have to
pay the
bill
- Selectable closing dates - this allows you
to pick a payment day that corresponds
to
when your pay check so that you don't
have
to pay a bill before you get paid
yourself.
- Cash back rebates - sometimes the incentives
come in the form of discounts, frequent flyer
miles, or merchandise, but nothing beats
cold hard cash that you can spend as you
want
- Insurance and warranties - look for cards
that provide travel and rental car insurance
(if you use them) and extended warranties
for purchases.
- Balance transfer fees - choose cards that
have zero or minimum transfer fees.
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