10 important questions to ask the credit card agents to find the right credit card: Part-I

Duran Mueller
May 11, 2007
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Applying for a credit card is becoming increasingly complex day by day. Though the online application form looks simple but there is lot more than filling out the basic information to get the best deal on credit card. What are the questions you should ask the credit card company or agent to achieve your goal? In this two part series we take a look at the first five questions. The second and concluding part in this series will include the other five most important questions.

1. What are the APRs?

Ask clearly whether the credit card is a 0 Intro APR card, what are the APRs for purchases, balance transfers and cash advances. How will the APR change if we are not able to pay the monthly balances in full, and how does the APR rate get affected when we miss one installment, or more.

2.What are the Fees?

Ask about the annual fees, cash advance fees, over the limit credit fees, balance transfer fees, and late payment penalty.

3. What is the credit limit of the card?

Get an idea about the credit limit of the card and ask how it can be increased. Also get information about whether how defaulting on payments or just paying the monthly minimum can affect the credit limit.

4. How widely the card is accepted?

Whether the card is globally accepted, can be used at ATM's, and other specialty stores and what are the things that affect its acceptance.

5. What are the additional benefits associated with the credit card?

Travel insurance, accident insurance, lost luggage insurance--what all benefits the credit card offers, additional to the basic things get an idea what is special with the credit card.

In the second part of this series we take a look at the other five most important questions that shouldn't be missed.