Key questions to ask before you
sign up for a credit card
you apply for a card, ask a phone rep to send you information, hook up with
a card company's online applications or receive an uninvited application through
the mail, don't sign up until you have asked some key questions.
- Is there an introductory rate, what is it and how long does
- After that, what will my rate be?
- Is there an application fee?
- Are there processing fees?
- Is there an annual fee?
- Is there a late fee?
- Is there an over-the-limit fee?
- Are there any other fees, like account termination fees or
balance transfer fees?
- When and how can a variable rate be changed?
- When and how can a fixed rate be changed?
- What is the grace period before interest is applied?
- How will you inform me of any changes in my contract?
- Will the company inform me if I am about to go over my limit?
- If I go over my limit, what happens?
- What is the company policy if I have trouble paying my bill?
-- Updated: May 5, 2004