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Loading ...Making the right financial decisions can really make your life easier. When it comes to choosing credit cards these days, however, the right decision is not easy. There are many plastics out there, and they all come with all kinds of fees, APR’s, rewards and pages of terms & conditions.
The best way to pick a card can be summarized in a 3-step plan:
1. Educate.
What is APR? How do they calculate my minimum payments? How much will I have to pay per month if I owe $1000? What is a Balance Transfer? What is an Identity Theft Program Fee? It is really important to know the basics and the terms of the credit because a smart consumer is an educated consumer. Here are a couple of articles that are going to be helpful:
- Understanding APR (Explains what really APR is, how it works and how not to get fooled by APR offers)
- 17 Hidden Credit Card Fees Revealed (Every credit card fee explained)
- What is FICO and Why Should You Care About it (Explains what FICO is and gives some advice on how to keep those score numbers high)
- Balance Transfers: Benefits & Drawbacks (Explains the possible pitfalls of Balance Transfers)
- How to Choose a Credit Card (Explains the different types of plastics)
2. Research.
There are a million websites out there that will help you with your research. You best bet is to figure out what are you looking for in a plastic: are you out there to collect point or you want to transfer balances? Write down your requirements and then compare the offers side-by-side.
- CreditCards.com (Great credit card comparison website)
- Bankrate.com (Compare The Best Credit Card Rates)
3. Negotiate.
If you have found your card online, and if you have some spare time, you may want to go one step further and call the bank. Talk to a customer care specialist and see if you can get a better deal. Very often supervisors have the ability to lower APRs and waive fees. 10-15 minutes on the phone can really get you a nice deal and save you green!
Tags: credit | credit card | money | loans | bills | apr | balance transfer
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Informative tips on getting 
February 20th, 2008 at 5:02 am
A good piece of simple and concise advice.
March 9th, 2008 at 5:45 pm
Remember, that when you’re looking for your first credit card, there are student credit cards out there that focus on students only. This is great way to build credit.
July 10th, 2008 at 10:31 am
Good article.. I am a student and mainly seeking some sort of credit card which will loose by burden.. your “Great credit card comparison website” have reduced my burden.. Now have applied for a credit card in that link…Thanks for the tips and the aricle too..