Credit Tips: Always Read The Terms & Conditions

We are all used to hitting ‘agree’ on those pesky terms and conditions that popup on every app or website. But when it comes to your credit, reading those terms and conditions is essential to getting the best card for your lifestyle.

Pages of boring jargon are rarely a must-read but when you are applying for a new credit card or the terms have changed on an existing card you need to take a look. Within those terms and conditions are interest rates and interest rate schedules, incentives and the rules to earning or using them.

Interest Rate

A big part of shopping for a new credit card is making sure you are getting a good interest rate. Within the small print on any card you will find the interest rate for that particular card as well as any details surrounding that rate. You want to have the knowledge for future use so you aren’t blindsided by any changes.

Fee Schedule

Knowing the fees on your new card is crucial. If you are someone who travels overseas quite a bit you want to know if there are foreign transaction fees and what they might be. If you plan on using this card for a long time you probably want to make sure there is no annual fee as well. Taking a look at the terms and conditions is a great way to get an overview of your new card’s fee schedule before you run into them.

Incentives

A big part of why people choose one card over another are the incentives. Want to know what the incentives are for your new card? Read the terms and conditions. You will also find information on how you can earn and redeem them as well as any restrictions.

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