How to Choose Wisely a Credit Card

So, you've made the decision to apply for a credit card. It's an important step for any consumer. Whether this is your first application in an effort to establish your credit, an addition to your existing credit card portfolio, or a plan to re-establish unsatisfactory credit, it is critical to research and fully understand the plans associated with various types of credit cards.

Before beginning the research process, consider and decide how you will use your new credit card. Will you be using the card for everyday purchases, or will you be taking an exotic vacation? Do you plan to pay the balance in full each month, or do you prefer to make monthly payments? Since APRs (annual percentage rates) vary for each card and respective payment plan, it's important to make these types of decisions before the credit card selection and application process.

Obtaining credit is not free, but can be economical and less costly if you understand the finance charges (the cost you pay for using a credit card). Grace periods may help reduce certain finance charges, depending on the individual credit card company offer. A grace period is the number of days you are given to pay your credit card balance in full before you are charged a finance charge. In most cases, finance charges are applied to new purchases only. (Cash advance finance charges are usually imposed immediately following the advance.)

Familiarize yourself with the annual percentage rate. An annual percentage rate represents the interest rate associated with using your credit card for purchases and cash advances. The APR is often a determining factor for many consumers when selecting and applying for a credit card. Credit card companies may vary their APRs, offering a different rate for purchases, cash advances, introductory periods and penalties. Traditionally, purchases carry the lowest APR. An exception may be an introductory APR for new purchases or balance transfers that may be offered at 0% for qualified applicants.

Many credit card companies competing for your business may offer a lower introductory APR of 0% for a specified period, for example, six months. At the end of this specified period, the APR will change to a pre-determined APR. (This information will be included in the credit card offer.) Therefore, it's very important to understand the APR following the introductory rate period, particularly if you will be using the card for large purchases and / or balance transfers. Also look for companies offering 0% interest on balance transfers with no time limit. Cash advances usually carry a slightly higher APR than purchases, but will vary for each credit card company.

An annual fee is another cost associated with using a credit card. Many think of annual fees in this way, the greater the APR, the lesser the annual fee. While this may be true in some cases, these fees are typically charged annually and usually will be subject to finance charges. Some special credit card offers, such as unsecured or unlimited credit card types and lines, may impose a higher annual fee.

In addition to a possible annual fee, many credit card companies impose charges through other fees such as late payment penalties, over limit fees and cash advance fees.

With the growing competition amongst credit card providers, new plans such as rewards and points programs are offered as incentives. These programs may offer earned 'points' or privileges for consumer items, travel (vacations and frequent flier miles) and other premium services, but oftentimes impose an enrollment participation fee in addition to any annual credit card fee. If you are a frequent traveler, these special programs and incentives may appeal to your taste.

When reviewing each credit card offer, look for the specific information outlined here to best determine the most appropriate card type and plan for your needs. You may elect to use a comparison chart of your own when considering credit card programs to more carefully select the best offer. Using the categories listed above (APR, finance charge, grace period, annual fee, etc.) create a left-hand column containing specific information about each category. Then, create a column for each credit card offer you are considering. This method will afford you a side-by-side, line item comparison to assist you in making a final decision.

Do you want a new credit card but can't choose? Don't panic! abc-of-credit-cards.com gives you all the basic information you need to know before applying for a credit card. For more info visit this credit cards website.

In The News:

Weekend catchup — this week’s personal finance headlines  Financial TimesUK inflation dropped to almost a two-year low in December as falls in the oil price fed through to lower petrol prices, raising questions over whether the Bank of ...
The Difference Between Single & Married Withholding: Personal Finance 101  Zacks.comCheck out the latest Zacks Personal Finance 101 video for the key differences between single and married withholding.
13 Best Personal Finance Money Books 2019  New York MagazineWelcome to Reading Lists, comprehensive book guides from the Strategist designed to make you an expert (or at least a fascinating dinner-party companion) in ...
Personal Finance Show: The best UK opportunities and cash in calamity  Investors ChronicleIn this week's show Ben Ritchie, manager of Dunedin Income Growth Investment Trust (DIG), explains why he has changed its investment strategy and where he ...
5 Questions to Ask Before You Retire: Personal Finance 101  Zacks.comReady to retire? Check out Zacks' Personal Finance 101 video for questions to ask yourself before you do.
Personal Finance Class for High Schoolers  q1065.fmIt's been a few years since I've been in High School, but as I think back I like the proposal by South Carolina, mandating that High Schoolers would have to take ...
Personal Capital vs. Quicken: Which Software Is Better in 2019?  TheStreetComparing Personal Capital against Quicken is like comparing apples to oranges - but they're good apples and oranges....INTU.
Personal finance: How ELSS is ideal for young investors  The Financial ExpressThe main purpose of ELSS is helping individuals to avail income tax benefits under Section 80C of up to Rs 1.5 lakh a year along with continued growth of fund.
6 personal finance resolutions for New Year 2019  Times NowNew Delhi: The beginning of the calendar year is one of the best suited time for making personal finance resolutions. In the current quarter (January-March), ...
New to Personal Finance? 5 Mobile Apps You Can Try to Streamline Your Investment  EntrepreneurPersonal investments are really tricky, especially when you are new to it.
Is Sleep Debt Hurting Your Career?  Helena Independent RecordAmericans are certainly familiar with the concept of financial debt, but apparently, they're racking up sleep debt as well. An estimated 62% of women and 52% of ...
Personal Finance Queries For The Day (07-01-2019)  Outlook IndiaPersonal finance queries responded by industry & subject-matter experts.
Personal Finance Queries For The Day (01-01-2019)  Outlook IndiaPersonal finance queries responded by industry & subject-matter experts.
Personal Finance | Latest Expert Opinion & News  Fidelity InternationalGet the latest personal finance opinions and news - highlighting issues and events that might impact you and your investments.
How to make personal finance resolutions for 2019  MPR NewsThe U.S. economy is predicted to slow in 2019. But that doesn't mean your personal finances have to take a hit. According to a Fidelity Investments survey, ...
Should Students Be Required To Take A Personal Finance Class?  wyrk.comThere is a lawmaker in South Carolina who is proposing a bill to require students to take a personal finance class in High School.
10 tips for wise financial decisions  Independent OnlineFinancial Consultant Eric Streso offers some professional advice for making savvy financial decisions in 2019.
Personal finance: The truth about becoming an American millionaire  Yahoo FinanceHere's exactly what it takes to become a millionaire.
So what cover do you need? And When?  Independent OnlineAsisa's SA Insurance Gap Report identified a death insurance gap of about R12.9 trillion, and a disability insurance gap is around R16 trillion.
3 Ways a Small Business Can Retain Employees  Helena Independent RecordIt has become harder for companies of any size to hire. Unemployment hovers near record lows while job growth has continued, a recipe that has produced a ...
Top 10 Personal Finance Books To Really Understand Money And Life  ForbesA friend recently asked me to offer a list of my five favorite personal finance book—and I failed. I couldn't condense the list to any fewer than 10 without feeling it ...
Lawmaker in this state proposes mandatory personal finance classes for students  WDSU New OrleansA bill calls for a personal finance course as a requirement for high school graduation.
The 10 Best Personal Finance Resolutions For 2019  ForbesIf you are looking for some changes in your financial circumstances, here are the ten best personal finance resolutions to consider for 2019.
Amber Holmes awarded $5000 from Next Gen Personal Finance  Kennebec Journal & Morning SentinelAmber Holmes, a student at Erskine Academy in South China, has been named the Maine recipient of the National Grand Prize Award in Next Gen Personal ...
Florida lawmaker proposes mandatory personal finance classes for students  WESH OrlandoA bill filed late last year would create a financial literacy course requirement for high school students in Florida. The "Dorothy L. Hukill Financial Literacy Act" (SB ...
New law promotes personal finance education in schools  Gloucester Daily TimesBOSTON — A new law aims to give Massachusetts students the tools they need to navigate their financial futures, including milestones like buying a home and ...
Next Avenue Picks The 6 Best New Personal Finance Books  ForbesThere are two problems with many personal finance books. One, they're dull. Two, they often tell you what you already know or suspect. Here are some ...
Magaziner backs bill for high school personal finance class  Warwick BeaconThis is a big day, and I think a day that is long overdue, because all Rhode Islanders deserve to have an opportunity to achieve financial security, and a vital ...
PERSONAL FINANCE: ‘Yes’ to your resolutions means ‘No’ to something else  Daily NationWant to make financial progress next year? You will have to make some sacrifices.
19 Most Popular Tax Deductions For 2019 | Smart Change: Personal Finance  Helena Independent RecordMoneyTipsThe Tax Cuts and Jobs Act (TCJA) limited itemized deductions and doubled the standard deduction to entice more taxpayers to skip itemizing – but ...
Credit cards get the hate, but HELOCs are the crushing debt  The Globe and MailDebt has to be the most talked about personal finance topic of the past decade. Somehow, financial planner Shannon Lee Simmons has found something *fresh* ...
12 Free Personal Finance Courses to Master Your Money in the New Year  Student Loan HeroPersonal finance might not be on your school curriculum, but knowing how to manage your money is essential. Here are 12 free online course, some as short as ...
LendingTree concludes personal finance website ValuePenguin acquisition  VerdictLendingTree, which operates an online lending exchange, has wrapped up the acquisition of Value Holding, the parent of personal finance website ...
PERSONAL FINANCE: Get rid of your junk  Daily NationDecluttering your mind and space is the first step to wealth creation.
8 New Year's resolutions for your Personal finance 'fitness' in 2019  Independent OnlineMany people go on diets or exercise regimes in January. But fail come February, shaping up your finances is a similar challenge.
High school students would have to pass personal finance to graduate  WTHRThe high school class would cover budgeting your money, paying bills, filing taxes and not getting into debt.
Personal Finance Queries For The Day (24-12-2018)  Outlook IndiaPersonal finance queries responded by industry & subject-matter experts.
Bill would require students to take 'personal finance' class  8NewsSouth Carolina lawmaker Luke Rankin, Horry County Senator, has pre-filed a bill that would require high school students take a personal finance class. . News ...
I've been using the personal-finance app Digit for nearly 3 years, and it's helped me save $20,000  Business InsiderAuthor Jackie Lam reviews Digit, a personal-finance app, and details how she saved more than $20000 with it in nearly three years.
Gaby Dunn’s Personal-Finance Real Talk: “Money Is a Thing We Made Up”  Vanity FairBefore she was the host of a podcast about personal finance, and now the author of a book about it, Gaby Dunn was a writer and comedian who struggled with ...
What Questions Should I Ask When Taking Out a Loan?  MD MagazineLoans are often necessary to empower you to make important moves for your practice. But before you take one out, make sure you're asking yourself the right ...
The 5 financial products you can't do without  Independent OnlineHow far does your financial planning go? You may be doing the right things: saving for retirement through your employer, or independently, and paying for basic ...
Best personal finance apps to manage your money in 2019  Download.comWith so much to track each day, money management can seem like just one more laborious chore. But with the best personal finance apps for iOS and Android ...
Personal finance expert, Harsh Roongta answers Mutual fund queries | Exclusive  ZoomHarsh Roongta, a personal finance expert answers some mutual funds queries exclusively on ET Now. Listen in!
Managing Money with Moneycontrol I Importance of getting your asset allocation right  Moneycontrol.comRohit Shah, Founder of Getting You Rich, explains how to get your asset allocation right.
You’ll tip more at a restaurant if it has this and here’s how rich people approach problems  MarketWatchHappy Thursday, MarketWatchers! Here are the top personal finance stories of the day. Personal Finance. Will Americans pay companies to protect their ...
Podcast: Key trends that shaped personal finance in 2018  CNBCTV18As 2018 draws to a close, Money Money Money looks at key trends that shaped personal finance this year and puts the spotlight on wealth creation and ...
Personal Finance Resolution for 2019  The Hans IndiaThe New Year is just around the corner and as the year ends, we all prepare for a *fresh* start We must resolve to lead a healthier lifestyle, to adopt financial ...
How to Invest for Retirement if You Hate Everything About Personal Finance  Yahoo Finance UKIf you're anything like my fiancee, anything that involves dollar signs goes in one ear and right out the other. Retirement planning and investing is something she ...
Bill would require R.I. public high schools to provide personal-finance instruction  The Providence JournalPROVIDENCE — A new bill sponsored by General Treasurer Seth Magaziner and two legislators would make personal finance instruction a high school ...
Why the IRS Just Cut Taxpayers Some Slack  The SouthernIt's almost tax time again, and many taxpayers are looking forward to seeing whether the tax reform measures that took effect at the beginning of 2018 will save ...
Bill would require students to take 'personal finance' class in South Carolina  WIVB.com - News 4Math, English, Science, Personal Finance. Does something seem out of the norm there?
Just 12% of Americans Think Their Finances Will Get Worse in 2019  Helena Independent RecordThat doesn't mean that a majority of us are going into the new year with a rosy economic outlook, however.
Get Total Control of Your Finances with This Top-Rated Budgeting App  EntrepreneurFor less than $20, Truebill will help you effectively manage your money all year long.
How To Save Money -- By The $1,000s -- For Retirement  Investor's Business DailyHere are four tips for how to save money, so you can plow the cutbacks into saving for retirement, children's education, other goals.
Students Get a Jump on Salary Negotiation, Personal Finance  Middlebury College News and EventsLife Beyond Middlebury” workshops help students with some easily overlooked skills they'll need when they leave campus for a job or an internship.
Absa is out to get first-time home owners  Independent OnlineIf you are a first-time home buyer than Absa is out to help you achieve this in 2019.
What's your financial action plan for 2019?  Independent OnlineIf life handed you some lemons in 2018, 2019 is the right time to make lemonade.
This little-known tax plan beats every other ELSS fund; should you invest?  Moneycontrol.comKnow here what is Quant Tax Plan and why it is topping the charts.
Liz Weston | Personal Finance: It's time to fix Social Security's tax burden  Berkshire EaglePosted Friday, December 28, 2018 10:45 am. By LIZ WESTON, NerdWallet. People on Social Security need a tax break. The rest of us need to make sure they ...
Beware of these common personal finance mistakes  DBPOST[dropcap]T[/dropcap]here is no 'one-size-fits-all' financial plan/investment plan. That is why it is called as 'personal' finance. It is your finances. But investors still ...
OneMain Financial Announces Partnership with Financial Journalist Stacey Tisdale and Personal Finance Expert Cat Alford  Business WireOneMain Financial announced today a financial literacy campaign sponsoring nationally recognized financial experts Stacey Tisdale and Catherine (Cat)
New bill would require high school students to take 'personal finance' class  WISH-TVThe class would cover things like budgeting, insurance, taxes, retirement planning, banking, and how to avoid too much debt.
Netflix: No price hike for SA customers  Independent OnlineNetflix announced that it will be hiking up its prices for 2019 in the US. This was the largest hike in its history.
State bill would require personal finance class in high school  Boston 25 NewsA bill filed by a South Carolina state senator would require high school students in the state to take a class in personal finance, WMBF reported.
Treasurer asks that personal finance courses be taught in high schools  newportri.comPROVIDENCE — General Treasurer Seth Magaziner is calling on the state Department of Education to require that personal finance courses be taught in all ...
Your Money: Personal Finance Resolutions For 2019  KPBSPersonal finance goals are not one-size-fits-all. What personal finance resolutions should you make for 2019?
Older drivers face 8 percent insurance hike for being loyal  ExpressOLDER drivers are 'bearing the brunt' of car insurance price hikes, research reveals today.
Bill would require personal finance class in for S.C. high school students  WACH.comCOLUMBIA, SC (WACH) — A bill was introduced on January 8 to the Committee on Education regarding the future of existing economic courses in high schools ...
Personal finance tips to get your debt on track in 2019  Global NewsIf you are feeling guilty or stressed about all the money you spend this Christmas, personal finance expert Rubina Ahmed-Haq has tips for a “finance detox” in ...
Personal finance outlook for 2019: Here's what experts have to say  CNBCTV18Another year draws to a close and it has been quite a roller coaster for investors. While 2018 may not be a blockbuster year in terms of actual market returns, ...
Personal Finance Show: Finding the best fixed income and when to sell a champion  Investors ChronicleIn this week's Personal Finance Show Paola Binns, manager of funds including Royal London Sterling Credit (GB00B6X6GB98) and Royal London Short ...
The 11 Most Valuable Personal-Finance Lessons of 2018  Kiplinger's Personal FinanceHow to reduce taxes and medical bills, help the next generation save for retirement and protect against identity theft were some of the issues on readers' minds ...
Capital Float buys personal finance app Walnut for $30m with Themis, K Law, Wadia Ghandy  Legally IndiaSequoia and SAIF's stake in Walnut, a Bangalore based personal finance management app-maker, was acquired by Capital Float, a Bangalore based digital ...
Here Are Our 2019 Personal Finance Resolutions  The Motley FoolFinancial resolutions may come close to exercise-based ones when people decide what to work on in the new year. That makes sense, because even people ...
South Carolina bill would require high schoolers take personal finance class  FOX 31 DenverCOLUMBIA, S.C. -- A bill filed in South Carolina would require high school students in that state to take a class in personal finance. The bill, which was filed by ...
Bill seeks to require personal finance class for SC students  wpde.comA bill introduced in the South Carolina State Senate would require high school students to take a class in personal finance. Sen. Luke Rankin (R - Conway) ...
R.I. treasurer calls for personal-finance classes at all public high schools  The Providence JournalA new report by state General Treasurer Seth Magaziner says that Rhode Islanders struggle with financial challenges at a higher rate than their peers nationally, ...
Personal taxes that changed in 2018: Here's how it'll impact your savings  Moneycontrol.comHere are some personal finance policies that will help you plan better and save some money.
PERSONAL FINANCE: Before you quit your job to start a business  Daily NationDon't sacrifice a steady income for the allure of entrepreneurship before you read this.
General Treasurer pushes for personal finance classes | Local News  Ricentral.com[email protected] When it comes to financial literacy, Rhode Islanders have fallen behind the national curve, according to General Treasurer Seth ...
Saving income tax: 'Focus on choosing the right product; NPS a good long-term bet'  Moneycontrol.comNPS is a great long-term product that offers lots of flexibility to invest in multiple assets, with low charges.
Here's what this personal-finance writer would like for Christmas: Money Matters  cleveland.comIt's time for my 14th annual "What I want for Christmas" list.
6 tips for NRIs to get financial plans for 2019 in order  Moneycontrol.comOne NRE savings account, one NRO savings account and one demat account in case you still hold shares from when you were resident, are typically enough for ...
Create a Personal Finance Balance Sheet to See Where You Stand  LifehackerIf you're planning a financial overhaul in 2019, one of the first things you need to do is figure out where you stand. And as advised by Kiplinger, one of the ...
State treasurer asks for personal finance classes in school  WPRI 12 Eyewitness NewsMagaziner noted in a report released last week that research shows Rhode Island's college graduates have a high rate of financial difficulties.
Get your savings priorities right  Independent OnlineYour child is a big part of your life, make their education savings a part of your financial plan.
In a financial plan there are many elements  Independent OnlineIn a financial plan there are many elements – to start with, one needs enough money to live off – so one always has to start with a budget.
Regulations relating to Popi Act have been published  Independent OnlineRegulations relating to the Protection of Personal Information (Popi) Act have been published by the Information Regulator. They will commence on a date to be ...
Better money habits in 2019: A personal finance spa day  Bankrate.comA quarterly spa day is a cleansing, restorative experience for your finances, and it will pay you dividends in peace of mind too.
Personal Finance Show: Fund tips for 2019 and investment checks you should make  Investors ChronicleFund tips for 2019, UK equities and wealth preservation, and investment checks you should make.
Suze Orman: Don't take out this kind of loan, even in an emergency like the shutdown  Yahoo! Finance NewsFor many workers, the ongoing shutdown is "an emergency situation," says personal finance expert Suze Orman. Still, even if you get desperate, don't take out ...
Here's a look at events that impacted your personal finances in 2018  CNBCTV18Here is a look at some of the key events during the year that impacted the personal finances of millions: Changes made in the PAN card application form ...
Slideshow | Availing a personal loan? Beware of high interest rates. 5 things you should consider before applying  Moneycontrol.comHere are a few things to check before availing a personal loan:
Quicken Deluxe 2019 review: Master your money  PCWorldThe grandaddy of personal finance software finally adds a web-based app to its robust money management tools.
What next for the winners of our Personal Finance Teacher of the Year awards?  Moneywise MagazineSix months ago, Moneywise awarded a primary and a secondary school our Personal Finance Teacher of the Year award – each received prize money of £3, ...
Clean out your 'financial junk drawer' and finish those money goals for the New Year  CNBCThe end of the year is a great time to tackle unfinished financial projects and goals.
How to manage your money: Best personal finance apps for credit card users  Bankrate.comThere are a lot of apps and tools ready to teach you how to manage money — but which are the best? Some credit card companies have started offering credit ...
How to Reshape Your Money Mindset | Saving and Budgeting  U.S. News & World ReportChange your perspective on past money-management pitfalls and make better financial decisions with these expert-backed strategies.
New South Carolina bill would require high schoolers to pass personal finance class to graduate  WCNC.comIt's part of a nationwide push to teach students real life skills. An "Adulting 101," you could say.

How To Place an Online Order for Checks ? It is Easy as 1-2-3

If You Have an Existing Account and 5 Minutes, You... Read More

How to Attain Your Dreams on a Single Income

If you recently became a single parent and see your... Read More

10 Money-Saving Tips

1. If you have your haircut every 3 weeks, try... Read More

Debt Management ? More Ways to Save on Gas Consumption

The price of gas continues to climb, and with continued... Read More

Take Control and Master Your Kitchen

Those who keep a watchful eye on where their money... Read More

Check Fraud and Verification

Before buying personal or business checks you should inform yourself... Read More

Help With My Annuity

The cries are heard from the distance, "I need help... Read More

Improving Your Financial Position

If you want money you need to learn how to... Read More

Budgeting Before Buying

With interest rates being at an all-time low, I can... Read More

More Money? My Cup Runneth Over...But Im Still Thirsty

Most of us, especially those of us who have debtor's... Read More

Tips To Save Money At The Supermarket

Are you interested in saving money off your grocery bills?... Read More

What is a Traditional IRA?

With a traditional Investment Retirement Account (IRA) you pay taxes... Read More

What Are We Teaching our 2005 Graduates about Money?

Now that we are in the month of June I... Read More

Whats The Truth Behind Your Finances?

Between 15 - 20% of people in our country (UK)... Read More

Debt Management ? Watch Out for Bank Fees!

During the last twenty years, banks have offered a number... Read More

5 Steps to Healthy Spending Habits

Next to our physical health most of us are primarily... Read More

How to Obtain a Non ChexSystems Bank Account Without Being Scammed

Predatory lending exists in the mortgage industry. It's typically when... Read More

Budgeting -- The Critical Flaw That Causes Most Budgets to Fail

Budgeting. It's a word we're all familiar with. Everyone knows... Read More

5 Ways to Absolutely Destroy Your Finances!

Ben Stein has a book called How to Ruin Your... Read More

How Electronic Checks Work ? Will Paper Checks Eventually Go Away?

Traditional checks probably won't disappear anytime soon, but processing checks... Read More

First Checking Account ? When is it Time?

We all know that money doesn't grow on trees, but... Read More

Personal Finance - Have Consumers Had a Belly Full of Personal Debt?

For months, we were trigger-swipe happy, putting our groceries, clothes,... Read More

The Wright Place - Finances

Women have a love/hate relationship with money. Most of us... Read More

Saving Money - Are You Doing Enough?

It is estimated that we, as consumers, waste an average... Read More

Bank On It: Places to Hide and Invest Money

Today I passed a thermometer at a bank that read... Read More