Bad Credit, Credit Cards
If you own a credit card and dont have a good track record, you may start getting your share of offers for bad credit cards, bad credit visa cards and cards. This may give you stress and you may also start getting worried about how to reestablish your credit. You may reestablish your credit with a pre approved credit card. This offer may even include low introductory rates and other perks. But most of these solicitations want you to pay off before the offer actually expires.
We would advise you to shop around to get the best deal. One should understand that a credit card is a form of borrowing which includes a lot of charges. There are different terms and conditions for credit, which affect the overall cost. So study the terms and fees thoroughly before you agree to open a credit or charge card account.
Let us study some important terms, which you should consider seriously before you apply for a credit card.
The first thing to consider is Annual Percentage Rate, a measure of the cost of credit expressed as a yearly rate. This also must be disclosed before you commit to the account and also found on your account statements.
The card issuer owner is supposed to disclose the Periodic Rate, the rate applied to your outstanding balance to figure the finance charges for each billing period. Some credit card contracts can also allow the issuer to change your APR when interest rates change. This can be allowed because the rate change is linked to the indexs performance these. These plans are called variable rate programs.
Andy Eaton is the owner of http://www.credit-cards-4us.com a site dedicated to helping consumers find the right credit cards, helping them get out of debt.
Article Source: http://EzineArticles.com/?expert=Andy_Eaton