The Confidential Credit Card Report
The Authorities Are Hiding From You!
VOLUME 1
SIDE NOTE:
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card related “MUST KNOW” information!
Credit card issuers offer a wide variety of terms. When you see credit card offers,
consider and compare credit cards terms, including the following, before you select a
credit card:
Annual Percentage Rate (APR)
The cost of credit as a yearly interest rate. Low interest credit cards are a good choice
for those who plan to maintain a balance on their account (not pay the full amount
each month).
Allows you to avoid any finance (interest) charge by paying your credit card balance
in full before the due date. If there is no free period, you will pay a finance charge
from the date of the transaction, even if you pay your entire balance when you receive
your credit card bill.
Many credit card issuers charge an annual fee for granting credit to you ($15 to $55
for most cards, and from $75 on up for premium gold and platinum cards); many also
charge a fee for a cash advance or if you fail to make a payment on time or if you go
over your credit limit. Some charge a flat monthly fee whether or not you use the
credit card.
If you pay credit card bills in full each month, the size of the annual fee or other fees
will be more important. If you carry a balance, the APR and the method of computing
your balance are key terms to consider as you compare credit cards.
• Obtain all credit card terms and fees in writing, including whether a deposit is
required.
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