Credit card offers: The criteria for choosing credit card

The first question to ask (and answer honestly!) Is: Do I pay less than the amount due on my credit card more months? The second question: Do I still get cash advances on my credit card?

If the answer to any of these questions is yes, you should seriously consider obtaining a debit card or credit card with no interest-free period. Your main objective should be to find the card with the lowest interest rate possible.
What many people do not realize that not paying your bill in full, or to obtain cash advances, removes many of the advantages of credit cards interest free days.

Why is this? Interest on cash advances into action immediately. There is no interest free period, so you pay the higher interest of the minute, the cash is in your hot little hand. To add insult to injury, there is often a transaction fee for cash advances as well.

That's okay, "you say." I just want the cash advance to tide me until pay day for two days of interest will not break the skein. " But there is another outlet. You can not choose to repay the cash advance and leave your other purchases outstanding. Banks calculate these things so that your refund is applied automatically to all previous purchases. Let's say you already spent $ 200 on your card. You get a cash advance of $ 200 today, and go to your bank tomorrow, with $ 200 to repay. No go. The $ 200 used to repay your previous purchases, what you end up $ 300 on purchases and cash advance $ 200 still outstanding. You will then take all of 700 to ensure that your cash advance has been paid.
There is a similar trick used when you do not pay the full balance of your credit card before the due date. This is because the interest-free period only applies if you pay your card bill in full. If you have no interest in kicking and may be retroactive. Instead of simply charge interest on the amount still outstanding after the due date (which seems the logical thing to do), some banks backdate the interest of the date of purchase. This occurs even if you pay your bill, but leaving only a small amount even $ 1 movement.

Some credit card providers only from the date of your return, which is better. And some, even better, as interest on the amount outstanding after repayment (if you pay part of the bill by the due (the end).

But it gets worse. If you are stuck paying interest, some providers charge interest on all purchases that have been debited from your account is whether they appeared on your statement or transaction after the statement was published. If so, you must pay the total amount due on your card and not just the amount on your statement.