What do you ask from your credit card executive while you buy a new credit card? Of course there are some questions you should ask at the time of shopping credit cards with no exceptions. These are essential, important and helpful so you can know worth (in terms of benefit) of your credit cards. Here is a list of some questions.
#1 What is my credit limit?
Credit limit allows you to spend more than what you have in your account. You should ask this question to know credit limit is enough or not for your use. Meanwhile you can reduce, extend or keep it same depending on your personal needs.
#2 What is the grace period?
Grace period is time limit to repay your credits before applying late fee and interest charges. You must discuss it at the time of purchasing.
#3 What is interest rates and APR?
Knowing interest rates and APR rates alerts you on how much you will have to pay in case you do not pay on time. Usually credit card companies offer different rates for different buyers even if you have better credit score previously you can negotiate for lower interest rates.
#4 What are late fee?
Interest rates and late fee are two distinct terms and you have to pay both in case you fail into paying on time. Late fee is a must and may vary from one type to another type of credit card.
#5 What are other benefits of buying your credit cards?
Certainly only an intelligent buyer can ask this question. Presently almost all companies are offering lucrative offers on credit card shopping and you must avail them. This includes rebate in air tickets, fuel charges, a particular club’s exclusive services, car insurance, personal insurance, prize and much more.
February 22, 2012
Credit Cards