If you have never owned a credit card before, You must be excited and looking forward to having one as soon as possible. However, credit cards are not created equal. Some credit card companies take part in some shady practices, in the hope that their clients will not bother to read the fine print.
These companies tend to put some policies in the contract that often benefit the company more than the user. So if you are in the process of getting a de beste kredittkort på penger.io here are some important pointers you should be on the lookout for, so as to compare various companies and make a solid decision that will be best for you.
What to consider when comparing credit card companies
Grace period or Billing Cycle
This determines the time you will start paying interest on the things you buy. It is always better to get one that has a longer grace period since it tends to mean that you are getting a free loan over a specified period.
These rates are significantly important when you are comparing credit cards. The interest rate is the annual percentage rate (APR) that you will have to pay annually in which the monthly rate is multiplied by twelve.
However, at times it is not always what it looks like since there are rates that often change with the balance that is on your card, introductory rates, and various rates that are put when you use your card differently. Therefore, you should pick a company that has well defined and affordable prices that will not only benefit the business but you as well.
Special offers and expiry dates
Most credit card companies give introductory rates for an individual’s APR, balance transfer fees and cash advance. Make sure you find out when these services will expire since the company will most probably advertise that the APR has gotten to a certain percentage, and beside it, an asterisk sign or a similar sign will be spotted suggesting you read the print. Also, some credit cards will relinquish the yearly fee during the first year, so you need to make sure that you know the exact details of your card.
Most credit cards have annual fees. However, they are not at times bad considering you are paying them, and as a result, you get something that benefits you. For example, some cards that give plenty of travel miles will tend to charge an annual fee that is higher. If you happen to travel a lot, then this act can lead to huge savings.
Points and rewards
As earlier mentioned, most credit cards offer rewards and points. However, there is a possible chance that it may come with a fee, but there is still an option of the non-fee cards. When you are a hundred percent confident that you are getting by far the best deal as per the interest rates, period fees, grace period, then it is time to check out any extras that you can gain regarding rewards and points.
It is evident that if you have a sharp eye of what you want there is no doubt you will get it. However, before you enroll to any credit card company do your research so that you can reap maximum benefits.