credit cards in the united states

Credit Cards

It is likely that you have received many pre-approved offers for credit cards in your mailbox. These letters urge you to apply for their credit cards immediately and may offer special interest rates or free balance transfers. With so many offers on the table, it is wise to shop around and read the fine print on each offer. Keep in mind that if you send in many credit card applications, to try and get a credit card, it will effect your credit score.

Interest rates

The company issuing the card must inform you of the interest rate on the card, and whether it is a variable or fixed rate. Variable rates rise and fall, depending on economic factors. As you consider different credit cards, make sure you learn about the details of interest rates and how they might impact your finance charges.

Other fees

Some companies charge an annual fee for the use of their credit cards. The amount may be as low as $25 or even up to $100, depending on the kind of card and any other perks associated with the offer. It is possible, however, to find credit cards that do not carry an annual fee. Some companies periodically waive the fee to interest new customers.

Credit cards may involve other costs as well. Some companies charge a fee if you are late in making a payment or if you go over your credit limit. It is important to be aware of your balance and due dates so that you can avoid these extra fees on your account.

Unauthorized charges

With all of the concerns about identity theft in todays world, unauthorized charges are an important consideration when selecting your credit cards. Plans vary, but you will be responsible for a minimum amount if a thief uses your card before you report it. If your credit cards are stolen, be sure to report the theft as soon as possible. You should phone the company’s 24-hour customer service line first, but it is also a good idea to follow up with a letter, so that they have your complaint in writing.

Under certain conditions, you may also dispute charges for items or services that you purchased but found unsatisfactory. Remember to keep receipts for items purchased with credit cards until you can reconcile them with your monthly bill. It will be difficult to prove a dispute unless you have a receipt.

Making the choice

There are a few other things you should keep in mind when choosing between several credit cards. How high is the credit limit? Make sure it is high enough to meet your needs. How widely is the card accepted? You want to choose a card that will be accepted in as many places as possible. What other perks are important to you? Some companies offer fun options, like choosing the picture that appears on your card. Other bonus offers are money related; for example, you may prefer credit cards that enable you to qualify for free travel by collecting airline miles. With offers for new credit cards arriving in your mailbox almost daily, it would be foolish to settle for a credit card that does not meet your needs.