It is a great probability that you receive at least a couple of credit card offers everyday in your mailbox. Add to them the bombardment of card offers online and in the stores, and it can be impossible to know which companies have the best credit card offers. Four factors can help you decide which credit card to choose; APR, incentive programs, fees, and whether a grace period is allowed. The purpose of this article is to inform you on the different factors that can prove vital in picking out a credit card. Annual Percentage Rate (APR) The annual percentage rate is the number that the credit company uses to calculate the amount of finance charges you owe on the credit you've used. Generally speaking, the lower this number, the better. The only time you want to consider a higher APR is if the card with a lower APR also carries a high annual fee. If the lower APR isn't going to save you money, then it isn't the better deal. Reward Programs Just about every type of reward system you can imagine is being offered by one or more credit card companies. Points, airplane miles, travel incentives, gasoline and best of all, cash. The best credit card offers give cash back as an incentive to use their card. However keep in mind that there are many more important things to consider than reward programs. Fees And Charges Some credit cards charge you an annual fee for the "privilege" of using their card. These fees can range from $35 to several hundred dollars yearly. There really isn't any reason to pay a annual fee unless you have less than perfect credit and need to build it up. Even then there are secured credit cards that are a better deal. Watch out also for the charges attached to a credit card. The most common charges include over-limit fees, late fees, cash advance fees, and transfer balance fees. Compare the terms of cards and make sure you are getting the best credit card offer possible. Grace Period A grace period is important and luckily offered on most cards. The grace period gives you a certain amount of time to pay off the balance on your card without having to pay any interest. Without a grace period, the credit card company can start charging you interest the second you buy something with the card.
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