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	CREDIT CARDS Card Category: All Business Charge Foreign Poor Credit Pre-Paid Regular Reward - Airline Reward - Auto Reward - Cash Reward - Finance Reward - Gas Reward - Hotel Reward - Retail Reward - Sports Reward - Travel Reward - Other All Reward Cards Secured Student Intro APR: All 0.0% 1.9% or Less 2.9% or Less 3.9% or Less 4.9% or Less 5.9% or Less 6.9% or Less 7.9% or Less 8.9% or Less 9.9% or Less Time Period: All 3 Months or More 4 Months or More 5 Months of More 6 Months or More 7 Months or More 8 Months or More 9 Months or More APR (Purch.): All Less Than 6% Less Than 7% Less Than 8% Less Than 9% Less Than 10% Less Than 11% Less Than 12% Less Than 13% Less Than 14% Less Than 15% Less Than 16% Less Than 17% Less Than 18% Less Than 19% Less Than 20% Less Than 21% Less Than 22% Less Than 23% Less Than 24% Less Than 25% Annual Fee: All $0 $10 or Less $20 or Less $30 or Less $40 or Less $50 or Less $60 or Less $70 or Less $80 or Less $90 or Less $100 or Less $110 or Less $120 or Less $130 or Less $140 or Less $150 or Less   Credit Report--Find out your FICO Score.   The Importance of Credit Card Comparison - Credit Report Basics - Fix Credit Errors - Get Credit Report - Reading Credit Report - Repair Credit Report - We all have a credit report - Credit Scores Online - The FICO score - Free Annual Credit Reports - Ways to Improve the FICO Score - Identity Theft - Revolving Credit Credit Card Comparison Feature 1: Hidden Fees The first characteristic of credit card comparison is to look for any hidden fees that are associated with the acquisition or use of each credit card. Hidden fees are any fees which are charged to the card holder annually or based upon use. They are called hidden because they are usually outlined in the fine print of the terms and agreements signed by the card holder, so they are legally binding but they are not right out front where the card holder can see them. Credit card comparison regarding hidden fees will include reading these terms and agreements and perhaps talking with the company's customer service representative. Late payment fees, annual charges, bounced check fees and over limit fees are all examples of fees which should be reviewed during the credit card comparison process. By knowing your own spending and payment strengths and weaknesses, you can choose cards with fees unlikely to affect you. Credit Card Comparison Feature 2: Card Limits In credit card comparison, you should consider what your personal spending limit needs require. If you are planning to make a large purchase, you are going to need to make sure that the card limit for the card you choose is relatively high. It is sometimes difficult to assess card limits when applying for new cards, because the limit will be based upon your credit card history and income. Telling a customer service representative from the agency that you are doing a credit card comparison might assist you in getting the company to make an educated guess as to what your card limit will be if you are approved for the card. Credit Card Comparison Feature 3: Interest Rates The most important feature of credit card comparison is to look at the interest rates of each card. Interest is the amount of money you will pay back to the company in addition to the money spent on credit card purchases. You want to keep this cost as low as possible. During credit card comparison, you will want to review the interest rates in three different areas. You will want to look at the interest rate charged on normal purchases, that charged on balance transfers and that charged on cash advances. You will want to consider which cash access features you are most likely to use and choose a card which has low rates in that area. In Summary Credit card comparison is an important part of the credit card application process. Credit card comparison allows you to decrease the amount you spend monthly and overall when making purchases on credit cards. By knowing your own spending and payment habits and applying this knowledge to your credit card comparison, you can make the right credit card choice for you.   Terms You Should Know When Applying for a Credit Card There are many terms that you should familiarize yourself with if you are applying for a credit card. The following are some examples: Co-Applicant: This is a person who will also receive a card if you fill out the relevant forms. Their credit card and how they treat it will directly effect your credit rating. You will be ultimately responsible for every charge that they make. If they can not or do not make their payments you will have or risk ruining your credit score. Usually people use these options for their spouses or partners. Annual Percentage Rate (APR): The APR is the cost of credit calculated on an annual basis. Card Payment Protection: Most credit card companies offer this in case something happens to you and you are no longer able to pay your balance. The way it works is that you pay so many cents on every dollar that you owe. It is basically insurance, if you do become seriously ill or suffer some sort of accident you will have help paying your monthly payments. And in the event of your death, the entire balance would be paid in full. Cash Advance: You can use your credit card as a debit card by going to the ATM and withdrawing cash from the machine. It is important to not that while you do not pay interest on purchases with a credit card for 1 month, when withdrawing cash interest is charged starting the very same day that the money is withdrawn. Credit Reference Search: When you apply for credit, the lender you are applying to will do a credit search to find out your credit history and rating. This is how they decide if you are someone they want to enter into a contract with. It helps them decide how much risk they are assuming by approving your application. If you have a very poor credit rating there is a good chance that your application will be refused by many companies. Risk Based Assessment: This is what the credit card companies use to see what kind of credit you are eligible for. With this tool lenders decide whether to grant or deny your application and what kind of interest rate they are going to charge you with if approved. Annual Fee: Many credit companies charge an annual fee each year. This is a yearly sum that that you pay as a service fee. It covers part of the administration of your account.  This fee has nothing to do with interest or the amount of credit that you have used. It is a fixed rate you will have to pay as long as you have your credit card. Fewer companies have this fee compared to in the past. The annula fee used to come standard with all credit cards, now there are many that have a $0 annual fee. Credit Limit: This is the amount of money that you are allowed to borrow using your credit card. Introductory Rate: An introductory rate is a temporary lower than average rate that is used to draw customers in. The introductory rate generally applies for the first six months that you have your card. Standard Rate: This is the rate that you will be charged throughout the life of your loan, beginning after the introductory rate timeframe has expired. Credit Card Checks: Some banks issue checks along with your credit card. When you use these checks to pay for a purchase the money comes off of your credit card instead of out of your bank account. This way you can use your credit card funds to pay for things where credit cards are not accepted. Balance Transfer: When getting anew credit card you are sometimes offered the option of transferring the balance of one card to another. Essentially what you are doing is using one card to pay off the debt on another. Many credit cards offer an introductory low interest rate for balance transfers. Cashback: Many cards off this now, it is one of the many different reward options available. In this case when you make purchases with your card you get a certain percentage of the money spent back. Basically it is a discount on all of your purchases. Flexible Card: The new wave of credit cards. You get to choose from many different options in order to develop the best most suitable credit card for you and your individual needs. There are different rewards, annual fees, interest rates etc. to choose from.   Credit Card Minimum Payment Interest Calculator This calculator will show you how much interest you will end up paying if you make only the minimum required payment on your credit card bill -- that is, assuming you stop charging any more to it. After seeing the shocking figures this calculator will generate, I doubt you'll want to continue allowing the credit card companies to build your swimming pool in their backyards. And as you will see from the calculated results, it's not just the interest charges you're losing, you're also losing the interest you could be earning on those charges if you were investing them rather than paying them to the credit card company! Somewhere in your credit card disclosure statement the card company will tell you something like "your minimum payment will be 2% of the balance or $10, whichever is higher." These are the figures you will enter in Row #3 and Row #4 respectively. Enter the dollar amount charged: Enter the annual interest rate: (3) Enter the minimum percent payment amount: (Check your statement -- usually 2 or 3 percent)   (4) Enter the minimum dollar payment amount: (Check your statement -- usually 10 or 40 dollars) Total interest charges you will pay: Total number of payments you will make: Total number of years until debt is paid off: Estimated foregone interest earnings: Total Estimated Opportunity Cost: Summary: