Choosing A Credit Card? Check Out

You just received a "pre-approved" credit card offer in your email. Wells Fargo Bank might disagree with that approach. Without wasting a minute you're willing to accept, especially if the "before-the-offer-expires" one. Wait! Take your time. Shop around a bit and then make a decision about that credit card. Do you know that these "pre-approved" offers that appear almost every time you open your mail are just tricks? In fact, the approval of your credit card depends on its formal application. Recently Wells Fargo Bank sought to clarify these questions. Failure to comply with the criteria, may be denied or credit card offers a higher interest rate on it. Moreover, not being in the illusion that just because your credit card pre-approved, will be compatible with your spending habits. Credit card, basically means you are borrowing money to pay some charges.

Therefore, it is essential to understand the terms and conditions of the credit card before accepting it. Each credit card applications should be aware of certain terms before opting for plastic that valuable asset. Are you aware of them? If not, then keep reading? Annual Percentage Rate (APR): A measure of the cost of credit which is charged each year. Before you open your credit card account, you should be familiar with the APR. In addition, some credit card issuers can change the APR with the change in interest rates or other economic indicators. Programs that allow this change is called "variable rate" programs. Free Period or Grace Period: Always find out if your credit card gives you a free period so that it can not be deprived of the benefit to avoid finance charges on full payment before the due date. If your credit card offers a grace period, you should receive your bill 14 days before the due date, so you enough time to make the payments. The annual fees, transaction fees and other expenses: It is vital to have knowledge of the annual report and the fees charged by the issuer

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