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TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

Important Things to Know About Credit Cards

Creating a positive and healthy relationship with your credit card starts at the beginning. Before you apply for a new credit card make sure you understand several aspects of the card before you move forward. Understanding what you're getting into before you jump into applying for a credit card will lead you to a more successful financial future.

Card Type
Secured card, unsecured, private label and more are examples of credit card types to choose from. Some of these cards require you pay cash collateral or load a balance before using. Others allow you to use anywhere MasterCard and Visa are accepted while some must be used at specific stores. Your credit history will often determine which credit card types you're eligible for.

Interest Rates
Understanding the ins and outs of your credit card interest rate is imperative before you sign the dotted line. What is the starting rate, is it fixed or variable, what will trigger a change and how much can the rate jump at once? Keeping the lowest possible interest rate on your card will allow you to affordably use your card when needed.

Comparing Credit Cards
Comparing credit cards is important. Before you choose a secured card, interest free card or any other type of card you need to compare fees, the grace period (if one exists), credit limit, and payment options. This will help you best identify the cheapest options with the most flexibility.

Payment Due Date
Credit card companies are generally pretty flexible as long as they receive the minimum payment amount on time or early each month. We can't always pay off our entire balance or make responsible choices but paying a traditional credit card payment each month should occur without fail - make sure you understand any important due dates with the card you select.

Minimize Outstanding Credit
While it's good to have and use credit cards on a regular basis it's important not to over use credit. If your credit it good enough to qualify for several credit cards it's not always smart to open several and maintain low to zero balances. Having a large some of available credit can be worrisome to creditors that aren't sure if you'll pull the trigger and get yourself into financial trouble. Maintaining a balance of 30% or less, on any credit card, is said to have the most positive impact on your credit score - next to making credit card payments on time and avoiding overdrafts.

The point is, avoid jumping into credit cards when better options exist. Make smart choices by understanding the type of card you're considering, the respective interest rate, fees, payment due dates and more can set you up for a more positive experience with your credit card company in years to come.

Store credit card applications skyrocket around Black Friday - but the discounts they offer come with a catch

Thankfully, shoppers no longer have to wait around for bargain holidays ... "If you tend to carry a balance on your credit card, an interest rate this high will come back to bite you," Bera wrote. Some retailers offer special financing or deferred-interest ...

Published:  Sun, 22 Oct 2017 08:24:00 GMT



Credit card interest rates poised to go higher

The Chase Slate card, for example, has no transfer fee if you transfer a balance in the first 60 days the account is open. If the average credit card interest rate is going up, you can expect the rates on store-branded cards to climb even higher.

Published:  Fri, 20 Oct 2017 09:29:00 GMT



60% of Credit Card Accounts Carry a Balance. Here's Why That Isn't Necessarily a Bad Thing.

The typical credit card charges an interest rate of about 15% per year on balances, with some rising as high as 29% when penalty interest comes into play. Given short-term interest rates are still pretty darn close to zero, paying an interest rate in the ...

Published:  Mon, 16 Oct 2017 05:12:00 GMT



Read This Before You Use a Retail Credit Card

Some cards have even higher interest rates. Brandsource's credit card charges ... You can find a standard credit card with an excellent 0% intro APR offer or an excellent introductory bonus that probably has a lower APR than you could obtain from a retail ...

Published:  Thu, 19 Oct 2017 04:02:00 GMT



6 Situations Where A Personal Loan May Be Better Than A Credit Card

Revolving debt has no finite payment you can pay as much or as little ... assuming that you make regular payments. Typically, credit cards come with higher interest rates than personal loans. Introductory offers on credit cards may make them the better ...

Published:  Fri, 20 Oct 2017 19:09:00 GMT



A Boom in Credit Cards: Great News for Banks, Less So Consumers

worked for more than two decades as a home health care aide but has virtually no savings. To help pay her electric bill and to buy groceries, she racked up a balance of more than $6,000 on a Discover credit card. The annual interest rate is 29 percent ...

Published:  Thu, 19 Oct 2017 21:32:00 GMT



Credit card debt increases again

worked for more than two decades as a home health care aide but has virtually no savings. To help pay her electric bill and to buy groceries, she racked up a balance of more than $6,000 on a Discover credit card. The annual interest rate is 29 percent ...

Published:  Sat, 21 Oct 2017 00:02:00 GMT



Store credit cards: 6 ways to stay out of trouble

in which the buyer makes regular payments to the store at litle or no cost. Of course, the easiest alternative is to shop around to find the best credit card for you before grabbing a store-card offer. The lower interest rate and other benefits of a ...

Published:  Fri, 13 Oct 2017 11:48:00 GMT



Carrying credit card debt You're not alone

A zero percent balance transfer card offers an interest-free way to pay down debt, typically over 12 months. If you don't qualify, call your credit card company and ask for a lower rate. An earlier survey by Creditcards.com found almost 70 percent of ...

Published:  Fri, 13 Oct 2017 20:19:00 GMT



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