Factors To Consider When Choosing A Credit Card
IN THIS LESSON
- Consider the Annual Percentage Rate. It determines how much money you will pay to your credit card issuer if you let your balance roll to the next month.
- An annual fee on a credit card is a fee you pay each year for merely having the card, whether you use the card or not.
- Besides an annual fee and APR, there are other costs you must evaluate, like late fees or foreign transaction fees.
- Consider the rewards. Rewards options might be cashback, rewards points, or travel points.
- Determine how you will use the card. You must have a plan in place before you start spending; otherwise, you may end up spending, or borrowing, more than you can handle.