Important Questions to Ask About Credit Cards

11th February 2017

Whether you’re applying for your first credit card or simply another. It is always important to remember that all credit cards are not the same. Each different card and issuing company will have different policies regarding the card. Upon application, you need to make sure that you ask the important questions regarding the credit card as well as the policies associated with it. It will ensure that you get the most out of your credit card! A few of these questions are below to guide you. Here we have a look at a few important questions to ask about credit cards.

Interest Rate – Important Questions to Ask About Credit Cards

One of the most important questions you should ask when applying for a credit card is information about the interest rate. These vary widely by each credit card company so asking every time is vital! Remember to go through the fine print when applying to make sure that no information regarding interest rates was left out upon consultation.

Important Questions to Ask About Credit CardsAnnual Fees

Always ask about annual fees associated with the credit cards. Annual fees aren’t applicable to all types of credit cards so make sure to ask about this. To get the most out of annual fees, use the credit card on a regular basis.

Rewards

Do an inquiry about the rewards you will receive when purchasing items with the specific credit card. If your credit card offers rewards. You can earn great deals and save on future purchases for every rand you spend. Just make sure that you use the card regularly and pay back your balances in full each month. Be sure to get information about the rewards you can earn.

Additional Perks – Important Questions to Ask About Credit Cards

Except for reward point programs, some credit card offers additional perks such as travel insurance, roadside assistance and free rental car insurance. Ask about this during your consultation and make sure that it specifically states in your contract before signing anything.

Bureaus Reports

To establish a great credit score, regularly do a credit report to the credit bureaus. Ask if your credit card company does this. Make sure that all information added to your credit report will be positive and that the credit card company you wish to use reports to the credit bureaus on a monthly basis if you want to have a great credit record.

Comparisons

Ask the consultant how the credit card you are applying for compared to credit cards offered by other companies. You need to make sure that the credit card you are applying for is the best fit for your needs and stands out from the others that are available.

Choosing the best credit card can be a challenge and speaking to the credit card consultant can be of great help. If you want to be a bit more prepared before speaking to a consultant you can make use of credit card comparison sites to gain knowledge of the differences between all the cards available to make sure that the best deal is sold to you!

All info was correct at time of publishing