Getting Smart About Money - Tip 3: Getting a Credit Card

Shop around before getting a credit card and avoid on-the-spot temptations for free gifts or rewards for completing an application. Read the fine print -- If you really need a credit card, look for one offering an APR of fifteen percent or lower; no annual fees; and no universal default clause…that means, the creditor claims the right to impose penalty rates if you are late paying another creditor or utility company.

Once you have a credit card, be sure to make on time payments to avoid late charges, penalties or increased interest rates.







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