Cheapest Credit Cards | Banking Cards

Does finding a cheap credit card sound like a dream?  It’s not, you can still find credit cards with good rates if you know where to look and what to look for.

Look for cards with these features:

• Low APR (Annual Percentage Rates).
• Monthly Payments should normally be 3%.  Watch out for higher monthly payment fees.
• Look for rewards you will use:  if you fly, look for frequent flyer rewards.
• Check out a credit union.  Credit unions tend to have the best deal on credit cards.

Make sure to always watch out for “hidden fees”.  Read all the fine print, sometimes credit card companies make their fees hard to find.  Here are some “hidden fees” you will want to avoid.

• Annual fees.  Do you want to pay just to use your card? Fees can range from $25-$300 a year.
• Application fees.  You may be charged $10-$15 when you apply for a card.
• Cash advance fees.  Charges you will get for getting cash from your card.
• Balance transfer fees.  Fees charged to you for transferring your balance to another card.
• Finance charge.  The fee for having a monthly balance.
• Late payment fees.
• Over credit limit fee.
• Retuned check fee.

Phone order fee.  This is from making payments over the phone.
Universal default.  If you have late payments on any other accounts (car, phone, mortgages, or other credit cards).  They can increase your rate even if you have never been late on their card.

By finding a cheap credit card you can save a lot of money and pay your debts off faster.

Most U.S. banks offer a good selection of credit card options.  Before you apply for a bank credit card, you must make sure you meet the legibility requirements set by the bank.

Although the terms and conditions offered by each bank are different, the basic requirements for getting a bank credit card are almost all the same.

To qualify for a bank credit card, you must be a permanent resident of the United States, or a U.S. citizen, and have a valid social security number.  You must be at least 18 years old and have a minimum gross annual income.

Even if you meet all of the above criteria, you still have to have a good credit history to get approved for a bank credit card.  If your credit report shows a history of financial troubles or late payments on previous credit cards, you will most likely be denied a bank credit card.

One easy way to establish a credit history is to apply for a small loan or line of credit from any bank.  Applicants with bad credit, or no credit can get a secured credit card issued by the bank.  This will help to regain or rebuild credit.

Banks offer low interest rate credit cards for students.  The applicant must be a full or part time student of an accredited two or four year college or university.  Student bank credit cards help to build a solid credit history.

Once you have met the legibility requirements, you can apply for a bank credit card.