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Plastic Money
benefits you need. Terms and benefits vary greatly between cards, so it’s important to compare any credit card offer you’re considering.
Make a list . Make a list of credit card benefits that you can use. Rank the features according to priority for you.
Do your research . Once you’ve decided on the benefits you need, check out available credit card offers. You can find credit card offers online and offline where you can see how they compare. Rates and plans change often so call the card companies that offer something you’re interested in to make sure that what they offer is still in effect and to find out how long the offer will last.
Compare plans . Compile the information you find and make a com- parison between plans. Check out the annual percentage rate (APR), cash rebates, discounts, frequent flier miles, etc. Based on your lifestyle and needs, decide which plan gives you the most for your money.
Truth in Lending Act
This federal law requires that creditors give you complete and accurate information about credit costs and terms. You are entitled to know:
• Finance charges in dollars and as an annual percentage rate (APR)
• The bank or company that handles the money
• Credit limit
• Grace period, if any, before payment must be made
• Minimum payment required
• Annual fees, if any
• Any other fees, such as for credit insurance