One of the easiest places to apply for a credit card is the bank where you already have a savings and/or checking account. They’re familiar with at least part of your financial situation and are likely to be willing to issue a credit card to you. However, you should compare their terms with other credit cards and shop around a little.
Take a look at your billing cycle. Some banks may give a mere 25 days or so before you start incurring finance charges. You always want to know how soon you need to pay off your balance before it starts costing you money.
Cash advances are likely in general to accumulate interest charges from the day you get the cash advance. You need to be aware of what the cash advance will cost you.
Know if your bank considers your card to be a variable interest rate credit card or a fixed rate credit card. In either case, the fine print may allow the bank to change your interest rate with little notice, but a variable account is more likely to have its rate changed.
Interest is generally calculated by taking your average daily balance for that billing cycle, then charging 1/12 the APR.
Even if you aren’t comfortable with applying for a credit card online, it is a very good idea to research them online so that you know what a good credit card offer would be. You don’t want to accept an excessively high interest rate, high fees, etc. just because that’s what your bank has to offer. Shop around for your credit cards and save yourself a lot of money.
Know Your
Credit Cards