Compare Credit Cards - Find out more information

Good news for the Credit Card lovers who either want to add one more to their bunch of existing Credit Cards or those who are trying to acquire one for the first time. No Tension, no confusion; simple comparison.

London, United Kingdom (prHWY.com) May 4, 2011 - There will hardly be any person who doesn't own a credit card or is intending to own one. Rather, you will find many who are holding not one, not two but many credit cards of various banks and Financial Institutions. And why not, these cards come with so much of facilities that one cannot resist of. They are also so easy to handle, make purchases and pay at your own comfort. You need not carry heavy cash all around.

But there are many risks involved in it too. You need to think, understand and analyze the various aspects, facilities, charges that each Credit Card company makes, compare them and then go for a final decision.

So are you out there to Compare Credit Cards? Then you need to know what are the basic things that you need to compare among the various providers. The first and foremost thing is the interest rate. This is a very crucial point that turns out to be tricky many a times and unknowingly people fall into its clutches. Check what type of interest it is - whether it is a fixed rate of interest or a variable one. Some may say that initially it is free say for a year or two. Do not get attracted by it. Ask the next question, what would be interest rate after the free period is over.

The next major point is the annual fee. Whether it is free or not? If not, what is the amount, whether it is worth it and what are the different facilities that you get against it? Yet another risky factor is the grace period and the penalty there on. Find out the grace period that each institution offers and in case you fail to make the payment by that time what is the rate of penalty that they charge.

In case, you want to go for a balance transfer, whether they would charge you any fees and if so what would be the charges is a vital point that you need to check. Initially you may find that this is not required as you would stick to it for long. But you can never judge a future situation. May be in future you may not be able to pay in time and your debt gets accrued and there is a much more better credit care offer by another banker. So in such situations you should not end up paying high amount of penalty or interest.

And then on, you need to check the credit limit that they are offering and about the various facilities and deals that they are offering. What are the motivational aspects like points, cashback, wider coverage of merchants, discounts etc.

Whenever you Compare Credit Cards you will find the website www.CreditCards.org.uk very useful. To realize its power log on to www.CreditCards.org.uk and carry out a complete and satisfactory comparison.

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Tag Words: compare credit

Categories: Finance

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