![]() ![]() The next step you’ll want to make is to deepen your knowledge of what types of credit cards there are, and which may suit you best. These may include fraud protection, domestic or international travel insurance, extended warranty, guaranteed pricing schemes and/or rental car excess insurance. Some cards may offer more protections than others. The type of rewards you may find in these programs can include frequent flyer points, appliances, electronics, home goods, gift cards and travel perks such as hotel stays and airport lounge access. These can be in the form of standard rewards programs, frequent flyer programs or cashback rewards. Some cards come with rewards programs that give you something extra for your spending. It will differ for each credit card and can also depend on your income. This can range from as low as a few hundred or thousand dollars, to a near unlimited amount. The maximum amount of credit you have access to through your card. This will either be a percentage of your outstanding balance (around 2-3%) or a dollar figure (around $20-$30). The minimum amount of money you are required to pay each billing cycle. The number of days differs on each card but is typically 44-55 days from the start of each month’s billing cycle. The number of days you have to repay what is owing on your credit card before you are charged interest. There are cards that don’t charge this fee, but for those that do, the cost can climb as high as $1,200.Ī fee charged on overseas spending (including shopping on international websites), typically a percentage of the transaction (2-3%). The latter tends to be slightly higher but differs for each card provider.Īn ongoing fee charged once a year to keep your account open. The cash advance rate is the interest rate charged on any money you withdraw, such as at an ATM.The purchase rate is the rate at which any outstanding balances not paid in full in a statement period are charged.The two main types of interest you may be charged is via the purchase rate and cash advance rate. ![]() The more you have owing, the less credit you have access to. The balance on your credit card is another way of saying the amount of money you owe, including fees and interest. The very first step you’ll want to take in your credit card journey is to familiarise yourself with the basics – aka the costs and features of a credit card. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |