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Posts Tagged ‘Credit Cards’

by Ravi Karandeekar

Question by theitgirl: What do you consider low-interest rates on a credit card?
I’m a college student and I’ve never had a credit card of my own and I would like to get one not to go crazy with it or anything, but to start building my credit. I don’t want to get the first credit card they offer me but I want to get one that has the lowest interest rates. What are considered low/high interest rates? Student credit cards? Any tips or a website that can tell me to easily avoid debt although I plan to have it only as an emergency card?

Best answer:

Answer by Leid Patson
200%

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Choosing and Using Credit Cards

Chances are you have received offers in the mail asking if you would like to open credit card accounts. Frequently, these offers say that you have been “pre-approved” for the card, with a line of credit already set aside for your use. Typically, these offers urge you to accept quickly, “before the offer expires.” However, before accepting a credit card offer, understand the card’s credit terms and compare costs of similar cards to get the features and terms you want.

Credit card offers may seem attractive, but remember a credit card is a form of borrowing that usually involves a “finance charge” — a charge for the convenience of borrowing — and often other charges as well.