Banks and their marketing associates and divisions are competing with one another to capture a thick slice of the “credit card pie.” Offers by phone and mail of free credit cards, pre-approved credit cards, cards with special bonanzas, money back schemes, low introductory rates, and umpteen other perks pour in tempting you everyday.

A credit card is just a form of borrowing that does not come free. Credit terms, interest rates, fees and more can lay a stress on your bank balance. Credit cards are a temptation to spend now and pay later. What invariably happens is that people spend more than they can handle.

Informed consumers must always weigh carefully the pros and cons and compare different options before deciding on a credit card.

Before you decide find out

The advantages of a credit card are that it is a safe alternative to cash. Prevents loss as well as theft of cash. Using a card wisely can build a good credit history which helps when you need a loan or subsidy. It is useful in emergencies like accidents, urgent hospitalization, and unavoidable circumstances like natural calamities and so on. It grants a breather and gives you time to pay the bill. Some memberships offer travel or accident insurance to the card owners at no cost. They also offer privileges like discounts at restaurants, shopping malls, and holiday packages.

The other side is that you can get carried away and live beyond your means, ultimately falling into debt.

To be eligible you need:

There are many kinds of credit cards to choose from. Unsecured standard and classic cards are those with a credit limit of US$ 2000 and generally charge higher interest rates and offer lower or less favorable terms than the platinum and gold cards. Unsecured platinum and gold cards are for people with high credit ratings, and the limits for these cards are between US$ 2000 to US$ 100,000.

Here are a few links that will give information and opportunities to apply for cards online:

Tips:

Choose wisely and live debt free.

Author Bio
Paul Wilson is a freelance writer for www.1866Creditcards.com, the premier website to find information on Credit Card including topics on credit card market, credit cards, business card credit comparison, card credit processing, credit card reviews, credit card offers, card credit deals and more.

By evaluating your needs, you can decide what to look for in a credit card. Search for one that fits those needs and then apply online. The card will soon arrive in your mailbox. Use it wisely, and you’ll enjoy the convenience and benefits of having a credit card.

Credit cards offer plenty of benefits and convenience. And these days, there are cards for everyone. With so much variety, choosing a credit card can quickly turn into a daunting task. But it doesn’t have to be. By reviewing your needs, you can easily match a credit card to your lifestyle. Here are three things to consider as you choose a credit card.

Check the Interest Rate

Every credit card has an annual percentage rate, or APR, attached to it. If you pay off the balance each month, this will not affect you. However, most of us do occasionally carry a balance, so finding a good APR is important.

Many cards come with an initial low or 0% interest rate.

After a period of time, varying from a few months to a year, the regular interest rate will be used. Some cards offer low interest rates, while others charge a higher one. You will want to check if the card has a fixed or variable interest rate. A fixed rate is one that will not change unless the issuer notifies you. A variable interest rate is usually attached to another rate, such as the prime rate.

As the prime rate changes, the interest rate on your credit card will also fluctuate. There are often limits included, which define how high or low your rate can go. Check the fine print of the credit card application to get a better understanding of the interest rate and how it works.

Look at the Finance Charges

Most credit cards have a number of finance charges included. Some charge an annual fee for carrying the card. This can range from $25 to $75, and sometimes more. Other costs may be incurred through balance transfers, cash advances, late payments, or by exceeding the credit limit. These may or may not affect you, depending on how you use the card.

Besides the fees, you will want to look at the grace period. This is a free period that allows you to avoid finance charges by paying off the balance before the due date. Some cards have a long grace period, while others do not include one. By reading through the terms and conditions, you will better understand the charges attached to the card.

Compare Additional Benefits Participating in a reward program can help you accumulate additional benefits quickly. Some cards give you cash back when you make purchases. This usually ranges from 1% to 6% of the amount spent. If you spend a lot of time driving, a card with gas rewards will be very advantageous; similarly, if you travel frequently, you can earn valuable airline miles through a credit card that offers miles or points for travel with your purchases.

Some cards can be used to consolidate debt. Look for one with a low charge for balance transfers and a 0% APR introductory rate. Then transfer your balances onto the card. If you can, try to pay off the entire debt before the 0% APR offer expires.

Advertisements for free prepaid credit cards abound, but is there really any such thing? After all, prepaid credit cards are usually associated with multiple fees. If you’ve been looking for free prepaid credit cards, there are some things you need to know before taking the plunge.

. Northing is Ever Really Free

The first thing you need to understand when it comes to free prepaid credit cards is that northing is really ever free. Sure, you might not have to pay an activation fee or there might not be a monthly maintenance fee, but that doesn’t mean you won’t have to pay transaction fees or reload fees.

When looking at free prepaid credit cards, you need to look closely at the terms and conditions of the cards. What a credit card company thinks is “free” might not be the same definition you had in mind.

2. Assess All Of The Fees

As I said before, free prepaid credit cards aren’t really ever free. There is always some sort of fee involved. Because of this, when you’re shopping for free prepaid credit cards, you need to look at all of the fees they could possibly charge.

Confused?

Here’s an example: Let’s say the prepaid credit card you’re looking at doesn’t charge a set-up fee, but charges a monthly fee of $5.95 and a transaction fee of $1 each time you use the card. If you use the card 10 times each month, you’re paying $15.95 per month for the card. On the other hand, a prepaid credit card that charges a $9.95 setup fee with no monthly fee and no transaction fees will cost you a lot less in the long run.

Starting to see the picture?

This is why it is so important to understand all of the fees involved when looking at free prepaid credit cards. Not just the fact that there are no initial set-up fees. The companies offering free prepaid credit cards need to make their money somehow, and it’s not beneath some of them to sneak the fees in where they think you won’t be looking.

3. Hidden Fees

Some free prepaid credit cards are really sneaky when it comes to tacking on extra fees. For instance, you may think you’re getting a free prepaid credit card that has a low or no monthly maintenance fee, but you are suddenly surprised with a $20 “fulfillment” fee for shipping and handling.

A word to the wise — read ALL of the fine print when applying for free prepaid credit cards. In the prepaid credit card world, what you don’t know CAN hurt you. If you need some extra cash, and a credit card isn’t for you, try one of our payday loans. With a job and a checking account, you could qualify for a payday loan and have up to $500 in your checking account as soon as the next business day.