Credit Cards

1. Credit cards are hard to get.

They are very easy to get. Practically anyone can get one. Accounts are specialized to fit people wanting low interest rates, those wanting high limits,those with a poor financial history and more. Low rate credit cards are those accounts with relatively low interest rates. These are appealing to most individuals. Furthermore, specialty accounts are available for students, businesses, for cash back offers, and to provide bonus miles from an airline carrier. Often, accounts are so easy to get, that people end up with too many. It is best to be selective when applying.

2. Credit cards can be compared online.

Different accounts, including low rate credit cards, and their issuing institutions can be compared online. Some websites offer comparison pages in which they list the different kinds of accounts side by side, highlighting the features and benefits. Before choosing one that is right, it is wise to comparison shop for features, rates, and fees.

3. Credit cards are important for building credit.

While accounts like low rate credit cards are responsible for major consumer debt, it is nonetheless important to own at least one that can be used occasionally. Using the account can build the financial standing which is necessary if an individual wants to finance a home or car, for example. Using an account of this kind wisely, and paying off your balance quickly, helps build good financial records.

4. It is not possible to find credit cards with a fixed interest rate.

Even low rate credit cards with fixed interest do exist. However, it is important to check to see if these have annual fees. Sometimes, it is also vital to have excellent financial standing to be able to apply for a fixed interest rate that is worth while. Many offers provide 0% financing for a limited time but then will increase the interest rate. It is therefore good to check different options before choosing a provider.

5. Credit requires careful financial management.

Proverbs 27:23-24 - Be thou diligent to know the state of thy flocks, and look well to thy herds. For riches are not for ever: and doth the crown endure to every generation?

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