Credit Card College Blog

The primary step in selecting a credit card is to consider how you will employ it.
If you want to pay your monthly bill completely–and some other features like frequent flyer miles do not interest you–the best choice for you may be a card having no yearly fee and providing a much longer grace period.
In case you carry over a balance from one month to another, you may be more concerned in a card carrying a lower rate of interest stated as APR (an annual percentage rate).
If you want to employ your card in order to get some cash advances, you will wish to seek for a card, which carries a much lower APR plus lower fees on some cash advances. Certain cards charge a much higher annual percentage rate for cash advances than purchases.
The yearly percentage rate is the means of stating the rate of interest you will pay in case you carry a balance over, get a cash advance, and move a balance from a card. The APR presents the rate of interest as an annual rate.
The grace period is the day’s number you need to pay the bill without triggering your finance charge. For instance, the credit card agency may state you have 20 days from the fixed statement date, given you paid the previous balance by the due date.
Usually the grace period applies to new purchases. Many credit cards do not provide a grace period for balance transfers and cash advances. Instead, interest charges begin right away.