Got Credit?
Getting a credit card is very important set for most adults,
however not everyone knows what to look for especially if your
credit is blemished. Look for APRs or the annual percentage rate
this is the amount of interest that you will pay if you carry a
balance. APRs are stated in yearly interest rates.
Because with multiple interest rates, for example you may think
that you have a low interest rate of 8% and if you take out a
cash advance your interest rate may jump to 19%. Sometimes you
have a tired interest rate, meaning that your rate changes
depending on the amount of your balance.
Penalty APR's are in effect when you miss a payment, some banks
will penalize you if your payment arrives late by increasing the
interest rate. For example if your payment is 10 days late your
APR may go up from 12% to 16%. Introductory APR's are very
common, you may receive an offer that sates a 5% APR for the
first 6 months, after that it my rise to 18%.
If your credit card is lost or stolen and used without your
authorization, you do not have to pay more than $50 of those
charges. This is a protection provide by the Truth in Lending
Act. You do not need credit card insurance to cover amounts over
the initial $50.
Wilson Davalos
For more information visit
http://applycardcredit.net
http://laploune.com
About the author:
Wilson Davalos
For more information visit
http://applycardcredit.net
http://laploune.com
