Almost every credit card offers some sort of perk: airline miles, rewards points, cash back, etc. So think about what perks you can use before you settle on a card. If you don’t like to travel, then a card that offers miles isn’t for you. Also think about how you use your card, and which cards let you earn extra points. If you’re a foodie who loves to dine out, then a double or triple restaurant points card is perfect. Just don’t forget to redeem those points!
Credit Card Tip #3: Check both perks and penalties
October 27th, 2013
If you travel, make sure the card is accepted worldwide and can give you cash advances if you need them. And check the policy on international purchases—some charge extra fees. Sometimes your agreed-upon APR (variable or fixed) is only as good as your timely payments. If you’re late, that agreement may be void—percentages can get tacked on, and fees added. See how long you have to make a payment. How is the minimum payment due calculated? Some are flat fees and some are percentage-based. What’s the grace period? Do they offer purchase/fraud protection? If you have an issue, can you make a local phone call to easily get it resolved? Don’t take anything for granted.
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