Online Credit Cards

People spend a lot of money on credit and with consumer debt levels continuing to rise dramatically, people are spending a larger and larger proportion of their incomes on credit and financing charges in particular. Car payments, mortgage payments, credit cards, store cards, personal loans, all forms of debt and bank overdrafts; they all combine to take up and eat away at an ever-increasing proportion of our income. Therefore it is more important than ever that we make sure we are getting ourselves the best deals possible when we shop for credit.

Shopping Around for Your Credit

The cardinal rule when seeking to take out new credit, especially for credit cards, is to shop around; this should be a prerequisite for almost any product that you buy, be it financial or not. Shopping around for credit cards is made even more important because of the fact that interest rates can vary so much between lenders. While some credit cards offer rates of around ten per cent, others are up in the region closer to thirty per cent. You do not want to be paying more than you have to for anything, and especially not for your credit card.

What is APR?

The APR is a useful figure for using when comparing rates as it is a standard figure calculated in the same way by all lenders and means you can use it to compare the true cost of credit no matter who you are borrowing from.

Use APR to Compare the Credit Cards on Offer

Using the APR is a very powerful tool; in fact the majority of the population owe the credit card company and are currently paying these exorbitant rates of interest. If you are with the majority and know that you can