Three Useful Things to Know When you Sign Up for Credit Cards

So you have already decided to go ahead and sign up for credit cards? Well, that is a wonderful decision you have taken. But before you proceed any further I would like to point out some important points that you should be aware of.

1) Types of Credit Cards

Before you sign up for credit cards, you need to know that there are many different types of credit cards. Getting familiar with them will not only help in getting a better deal but also a credit card that is best suited for your needs.

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If your main aim is to cut back costs on your shopping bills, then you should consider the cash back credit card offers that are provided when you sign up for credit cards. Most of the cards with cash back offers will give you anything between 1- 5 % of cash back on your purchases.

In case you are looking for low rates then too you are in luck because there are lot many credit card sign up offers that promise a very low interest rate. You can compare low APR and 0% APR credit card offers at DontSpendMore.com. (See All About Credit Cards, Major Credit Card Offer, Sign up for a New Credit Card)

If you are thinking of taking advantage from the freebies and rewards that are offered when you sign up for credit cards, then you should consider the frequent flyer miles and other such offers. Some of them even offer free stay at posh hotels, free dining at popular restaurants, etc.

2) Billing System

If you are going to sign up for credit cards for the very first time in your life, you may not be familiar with the billing system. If that is the case, you need to know that credit card bills are payable on a particular date each month. The bill for the previous month is sent to you on a predetermined date of the following month. You will have a certain specified grace period, say 10 days , 15 days or a month, which is the duration of time that is available to you during which no interest will be charged on the outstanding bill by the credit card company.

But if you fail to clear your dues before the last date of your grace period, you will be charged an interest according to the pre-specified terms and conditions that were intimated to you when you signed up.

3) Part Payment

You also need to know that most of the credit card companies provide you the facility of paying just a small percentage of your total bill. Like for example, your total bill is $ 300 for the previous month, the minimum amount that you need to clear this month maybe as low as $ 15.

If you cannot pay the entire amount you can still get rid of the interest if you pay the minimum amount. But you may have to confirm this feature before you sign up for credit cards.

Synopsis

It helps to keep these things in mind before you sign up for credit cards. In addition to the 3points mentioned above, do not forget to compare the best offers as well.

Click here to find out how to save money on credit cards

Compare and save on credit cards, cell phone, long distance, Internet access, mortgages, insurance, and more at www.dontspendmore.com

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