How Do You Evaluate A Credit Card Offer?
• Find out who sent you the offer. It could be from an independent marketer, even if there are references to major credit card names, attempting to charge you simply for mailing you a credit card application. Look on the reply envelope, the letterhead of the principal offer, and in the terms and conditions–if you see a name like “Processing Center” or “Credit Card Administration”, shred the application and move on.[1] • Compare the annual percentage rate (APR) for purchases. This is the percentage of your balance that you pay in interest per year. It appears in big type, but you aren’t guaranteed this APR. Once you apply and your credit history is analyzed, it may change. If it’s an introductory rate, it should also say how long that rate will last. Also keep in mind that low interest cards[2] typically have fewer rewards. And if you pay off your balance in full each month, you won’t be charged any interest. As a result, a low interest card may or may not be your best option, dependin
