We have discussed some of the basic functions of the credit card. “But Colby what do these rates and acronyms mean? And this contract needs a magnifying glass to read the fine print.” Obviously we still have some material to cover concerning credit cards. The material discussed may seem eclectic but that is because when it comes to credit cards there are a bunch of seemingly unrelated pieces that add together in that tiny piece of plastic.
- There are different types of credit cards available.
- One of the most important features of a credit card is the card’s annual percentage return (APR) or the interest rate charged on the card.
- The annual charge and the grace period are two other features to pay attention to.
- If you have more than one credit cards in use, pay the balance on the card with the higher APR first.