Compare and Apply for a Credit Card Online Including Balance Transfer Credit Cards
BestCreditQuote.com is designed to make it easy to apply for a credit card online. We are dedicated to being your trusted online resource for finding the credit card application offer that best suits your financial needs. We suggest you take full advantage of our credit card search engine to assist you in comparing the various offers from the leading banks and credit card companies including Visa, MasterCard and Discover Card.
If you are considering a balance transfer credit card then by all means utilize our credit card payment calculator. Our credit card calculator will give you an excellent idea how much you are currently paying in interest rates based on your current APR, while also showing you how much money you can save by transferring to a 0% APR or low interest rate credit card.
Be sure to visit our video library often. You will find that it contains helpful hints and valuable information on various apects of the financial world ranging from credit card applications, to student credit cards and how interest rates are calculated. Please let us know if there is any specific credit information that you are interested in learning more about.
The Best Balance Transfer Credit Cards
Balance transfer credit cards are ideal for those individuals that carry a monthly balance. They allow you to consolidate debt into one account for easier management. Using these cards affords you the option to put those interest savings to work for you by applying that extra money toward the principle, thus paying off your balance quicker. There are many 0% interest and low APR credit cards to choose from including Chase MasterCard offers.
Apply For Small Business Credit Cards
Small business credit cards offer many advantages for both small business owners and corporate executives alike. These advantages include, but are not limited to, tracking expenses on a daily basis, generous lines of credit, high credit limits, rewards programs and cards for employees that can have there own credit limits adjusted independently.
The Best Gasoline Credit Cards Online
Gasoline credit cards are an excellent way to combat the seemingly endless rise of gas prices. There are several different types of gas credit cards so be sure to read the terms carefully. Some offers, such as the Discover Open Road Card, grant cash rebates and allow you to fill up anywhere you wish, while offers like the BP Visa Rewards Card from Chase are good only at BP stations.
Apply For Low APR Credit Cards
Low APR credit cards are the most sought after credit cards in the industry. If you happen to carry a monthly balance, and millions of Americans do, then the less interest you will pay, the better off you will be. We feature the Chase Platinum Visa here because of its 0% APR balance transfer rate. But bear in mind that the terms for each offer is different. That is why it is vitally important that you carefully compare cards before you apply for a credit card online.
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Credit Cards In The Real World
As I'm sure you have noticed already, there are a great many technical terms, and quite a bit of "industry" jargon bantered about by the credit card issuers. With that in mind, we felt that some explanation may help demystify some of what you read, and ultimately help you choose the credit card(s) that best suits your financial needs.
Annual Percentage Rate (APR) Explained
The annual percentage rate is a measurement of what the credit extended to you is going to cost. It tells you the rate you will be charged interest on a yearly basis. Basically, APR provides an indication of how expensive your credit is going to be.
Credit card issuers must, by law, not only disclose the APR of the credit card, but also the periodic rate. The periodic rate is the rate of interest applied to your outstanding balance during the billing cycle. The billing cycle typically runs every 25 - 30 days.
Most credit card issuers utilize what is known as "variable rates". Variable rates allow the credit card company, at their discretion, to change the APR of your card as interest rates change. Your APR could be raised or lowered, which in turn means you will be paying more or less in interest.
Always be aware of what the APR on the credit card application that you are interested in is. Carefully read the terms of the offer before you apply. And never miss a payment, or pay late if it can at all be avoided. Missed and late payments will most assuredly result in a higher APR.
How The Grace Period Affects You
Before you apply for a credit card you will want to know what the grace period (also known as the free period) is. The grace period is so named for the fact that if you pay your credit card in full each month, you will not be charged any interest. Without the grace period, the credit card company can charge you interest from the day the transaction occurs, until it is paid in full.
These are especially important details to know if you plan to pay your balance in full every month. By law, the credit card issuer must mail you your bill at least 14 days before the date in which it is due, thereby giving you plenty of time to pay it.
Not too many years ago some credit card companies found themselves in hot water for not allowing their customers a reasonable time in which to pay their bills. They saw the "light" during a series of congressional hearings.
Deadbeats, Revolvers and Rate Surfers
I'll bet you never thought being a "deadbeat" was a good thing. Well, it is for you, but not for the credit card companies. In the jargon of the credit card industry, deadbeats are people that pay their entire credit card balance in full each and every month. They rarely, if ever, carry balances, and because of that, don't pay interest. They are also known as "convenience users" and "transactors".
"Revolvers" are so named because they carry balances. It is a reference to credit card customers that are no longer covered by promotional or introductory offers of 0% APR and have to pay interest on thier revolving credit. Banks and credit card issuers LOVE revolvers. Revolvers keep them in business. Boy, do they ever keep them in business... to the tune of billions of dollars every year.
People that regularly transfer balances from credit card to credit card seeking better rates, are known as "rate surfers". Credit card industry insiders also use the less than flattering names of "rate tarts" and "gamers" to describe people that frequently transfer balances.
Be aware that while transferring balances can be an excellent financial strategy, doing it too often can raise red flags with the credit bureaus. Having too many credit cards can adversely affect your credit score. You will be seen as overextended and a heightened credit risk, even if you have never missed a payment.
Credit Cards vs. Debit Cards vs. Charge Cards
Credit Cards - There are some important distinctions to be made between credit cards, debit cards, and charge cards. In the case of a credit card, the bank or issuer extends credit to the card holder, thereby lending the card holder money upon demand. Credit cards are said to be revolving credit because they charge interest on the money that has been borrowed and not repaid in full at the end of the billing cycle. Credit cards are, for all intents and purposes, revolving credit loans.
Debit Cards - Debit cards are an alternative form of cash. They are physically identical to credit cards in size and shape. Debit cards draw on money that you have already deposited with a linked checking account. You cannot get any credit with a debit card. You are strictly limited to whatever balance you currently have in your checking account. Some advantages of using debit cards are that you no longer have to write out a check in a store, can withdraw cash at ATMs, and can use them to order merchandise through catalogs and the Internet.
Charge Cards - There seems to be a general misconception that credit cards and charge cards are the same thing... they are not. Charge cards are very short term extensions of credit that last one billing cycle. In other words, while you can carry a monthly balance with credit cards (revolving credit), charge cards must be paid in full each month. There are no minimum payments with charge cards. Failure to pay in full will result in large late fees and possible loss of the card. American Express is a large issuer of charge cards.
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