Saving with credit cards? Really?

Finances: Saving Money on Credit Card and Banking Fees to Save Money for Yourself


By JASON RICH


Credit cards are not all alike. How much you pay for the convenience of utilizing one or more credit cards will depending on the issuing bank, your credit score, the card offers you apply for. After a divorce, as you make decisions about establishing credit cards in your own name, finding the best deals can help you save money in fees and interest charges.


ANALYZING A CREDIT CARD OFFER

]The first step to finding a great credit card deal is to select a card that has no application fee or annual fee. Next, look at the APR (Annual Percentage Rate). The Introductory APR may be much lower than the standard APR, and the account will automatically switch after a pre-determined period. The Introductory APR or standard APR is the interest rate you’ll wind up paying on balances. Credit card issuers charge different interest rates for different types of purchases. For example, you’ll typically pay a higher interest rate for cash advances, and a different rate for balance transfers. Charges can really start to add up.

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