It comes as no surprise that quite a few Americans use charge card accounts. When it comes down to it, studies have shown that people not only use credit cards, the average consumer actually carries a balance on their credit cards. Therefore, it should be no surprise that each and every day, people are looking for new charge card accounts. Knowing that the first step to proper use of charge card accounts is comparing credit cards properly, I have listed the step by step process to proper comparison of credit card accounts:

Step 1: Compare Credit Card Interest Rates: The first thing that consumers should compare when comparing charge card offers is the interest rates that are being offered. These charge card account interest rates are the main source of fees associated with charge card accounts. The higher the charge card account interest rate, the higher the fees associated with borrowing using that credit card. Adversely, the lower the charge card account interest rate, the lower the fees associated with using that credit card account. Therefore, when comparing credit card accounts, it is important to choose the one that offers the lowest interest rates. It is also important to remember that there are more than 1 type of credit card account interest rates. It is important that people compare standard, promotional, cash advance and default interest rates!

Step 2: Compare Credit Card Fees: The next thing that consumers should compare when comparing charge card account offers is the fees that will be charged. It should come as no surprise that interest rates are not the only fees associated with charge card accounts. When it comes down to it, most credit card accounts come with a list of fees. These fees can include annual fees, foreign transaction fees and other fees generally charged by charge cards. When comparing credit cards, it is important to remember to read the rates and fees section of the terms and condition to ensure that they are aware of and agree to any fees that they may be charged.

Step 3: Compare Credit Card Grace Periods: Although, there are a few articles out there about comparing charge card accounts, one of the most commonly overlooked factors not commonly in these articles is the grace period. A credit card grace period is the amount of time that it takes from the date of a purchase to the first date of interest and finance charges associated with that purchase. Generally credit card account grace periods will be around 14 to 21 days. By consumers paying off purchases within their grace periods, they will be able to avoid a great deal of interest on their balances.

Step 4: Compare Credit Card Rewards: Finally, when comparing credit cards, Americans should compare the different charge card reward programs being offered. These credit card rewards programs allow Americans to earn points with each purchase. These points can be accumulated and later redeemed for great rewards such as cash back, gas cards, gift cards, free air fare and more! Because charge card account rewards are so prevalent these days, rewards programs are incorporated when calculating the cost of a charge card account. Therefore, when comparing charge card accounts, Americans should remember to apply for credit card accounts that offer rewards programs that they will use.

This article is brought to you by:
JEMCreditCards.com: Skymiles Credit Cards | Compare Credit Cards


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