Things to know

• A card’s APR should not be the only way you compare a cards. The method of finance calculation should be a big factor also.

• A card which has an APR or 18 % and utilizes adjusted balance may be cheaper than a card that has an APR of 13 % and uses pervious balance.

• Your credit card score if high qualifies you for a low APR. Check you score, call your credit card company up and negotiate for a lower score.

• Avoid convenience checks like a plague. They come with high-high APRs and fees.

• Annual fees range from $25 up to $100. Some cards do not have annual or monthly fees, but have high interest rates.

• Cards that have rewards sometimes are not worth the hassle. Remember credit cards are in the business of making money and they do not get those perks for free, so you are charged for them. Sometimes it is extremely hard to redeem your prize, your interest rates can be high or that credit card incurs other fees to cover their so called perks. Yes, yes, you pay for them one way or the other. Imagine if you pay your credit card bill on time with an annual fee of $20. The credit card company give you plane tickets for using their card. Now I don’t know where you will be traveling to on $20. Plane tickets may run the company $80. This means they are losing $60. If this were the case, there would be no credit card company. They are in business for a reason.

• Credit card companies are in business to protect their asset and make money, so you need to be in business for yourself. Shop around, negotiate. If you already have a credit card, negotiate for the best interest rate. If they are not interested, take your business somewhere else. Do not be afraid to call and ask questions. Yes, they may be nasty on the phone, but your end goal is to get what you called in for. Asked to be transferred to someone else till you get the information you want. Just remember, you are in the business to provide yourself with the best.