Information about credit cards
If you are like many Americans, you have been pretending to
have a clue about how credit cards work. Many of us grew up in families where
financial issues were not discussed and therefore fiscal responsibility was not
taught. Here is a primer on unsecured loans for adults.
When applying for a credit card, one of the most important
factors to consider is the annual percentage rate or APR. The APR is how much
it will cost you to use this Visa, American Express or Mastercard. A low
interest rate is obviously what you are seeking. The periodic rate is also
important as it determines the finance charge on your balance each month.
Companies will often send you offers of guaranteed credit,
instant approval or 0% APR. How do you know what is a good offer and what is a
scam?
Comparing credit card offers
Advance-fee scams offer
guaranteed credit regardless of if the person has bad credit or not and then
take off with the fee. Legitimate credit card offers do not require an advance
fee. Legitimate lenders such as Visa, Mastercard or American Express can
guarantee credit only to those consumers that they have identified as worthy of
it.
Instant approval is almost
possible in our technologically advanced world. Approval is much faster now
that people can apply for cards online. It’s not “instant,” but it is quite
fast.
The terms of each card are
different, and it is possible that a card can offer 0% APR, but it is generally
only offered for a short period of time or only on balance transfers. Always
check the fine print!
About the Author:
Karleen Kozaczka is a
freelance writer who admits that once she was credit-ignorant.
Recommended Sources
You're Approved for Guaranteed Unsecured Credit Cards and Personal Loans -
Any Credit History
Click Here
Avoid Bankruptcy, Click here to eliminate your debt
Give Yourself Credit
100's of Credit Cards - Apply Online |
