Is the annual percentage rate (APR) fixed or variable?
The APR is the total cost of credit on an annual basis. Issuers must disclose the APR when you apply for the card and note it somewhere on each bill. Most credit cards today have a variable interest rate, and the issuer must tell you what financial indicator or index it is using as the basis for the rate. The issuer must also tell you how much and how often your rate will change. If you see a card advertising a too-good-to-be-true teaser rate, be careful. It could soar up as much as 10 points in just a few months. What types of fees does the card charge? Many bank-card issuers charge an annual fee of $25 to $50 for standard cards and $75 on up for premium gold or platinum cards. Most issuers also charge a fee when you make a late payment, exceed your credit limit or take out a cash advance. Some charge a flat monthly fee whether you use the card or not. What’s the grace or free period before interest is charged? Issuers typically give you a grace period of 20 to 30 days for a new purch
