Finding the Right Credit Card

With so many credit cards to choose from, here are a few things to keep in mind.

1) Is this a fixed rate or an introductory rate?

2) If it is an introductory rate, when will it go up and by how much?

3) Is there an annual fee?

4) What fees or penalties might apply for not paying on time?

5) Is there a balance transfer fee?

6) If checks are included with an offer, is there a fee for using them (usually there is)

7) If you have transferred a balance at a fixed rate, make sure any purchases would be at that rate as well before buying anything with the card. Credit card companies always apply payments to higher rate balances first.

8) Could not paying another credit card or other debt payment on time affect your rates on this card?*

* The interest rates on some cards can actually be affected by how you are handling the rest of your debt. You don't want one of your lower interest rate cards to suddenly jump when you pay some other card late. Finding out this information will probably require calling the company issuing the card.