On a Hunt for the Best Credit Card (cont.)
Contributed by Jessie Hart
Questions to Ask to Help You Find the Best Credit Card
Before replying to that offer you got in the mail, there are several questions that you need to ask the credit card company. Their answers to these questions will help you to determine if the deal they are offering you is really all that it is chalked up to be.
-Is there an introductory rate? If there is, how long will it last before reverting to regular rates? And what are those regular rates?
-What sort of extra fees do they charge? Is there an application fee? Annual fee? Late fee? Over-the-limit fee? Will there be a fee when you request a balance transfer? Or when you terminate your account?
-When or how can a variable interest rate be changed? What about a fixed interest rate?
-How long is the grace period before interest is applied to your debt?
-Will the credit card company contact you in order to inform you when you are about to go over your limit? What if you do end up exceeding the limit? What will happen then?
-How will the company inform you of changes in the contract?
-What is the company's policy regarding any trouble you may have being able to pay your bills. Will bill collectors be sent after you?
Asking these questions and diligently inspecting the fine print on a credit card offer or agreement will help to ensure that the credit card you purchase really is the best you can get.
