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It comes as no surprise that many people use charge cards. When it comes down to it, studies have shown that consumers not only use credit card accounts, the average consumer actually carries a balance on their charge cards. Therefore, it should be no surprise that each and every day, consumers are looking for new charge cards. Knowing that the first step to proper use of charge cards is comparing credit card accounts properly, I have listed the step by step process to proper comparison of charge card accounts: Step 1: Compare Credit Card Interest Rates: The first thing that people should compare when comparing credit card offers is the interest rates that are being offered. These charge card interest rates are the main source of fees associated with credit card accounts. The higher the credit card interest rate, the higher the fees associated with borrowing using that charge card account. Adversely, the lower the charge card account interest rate, the lower the fees associated with using that charge card account. Therefore, when comparing credit cards, it is important to choose the one that offers the lowest interest rates. It is also important to remember that there are more than 1 type of credit card interest rates. It is important that people compare standard, promotional, cash advance and default interest rates! Step 2: Compare Credit Card Fees: The next thing that people should compare when comparing charge card account offers is the fees that will be charged. It should come as no surprise that interest rates are not the only fees associated with charge card accounts. When it comes down to it, most credit cards come with a list of fees. These fees can include annual fees, foreign transaction fees and other fees generally charged by credit card accounts. When comparing charge card accounts, it is important to remember to read the rates and fees section of the terms and condition to ensure that they are aware of and agree to any fees that they may be charged. Step 3: Compare Credit Card Grace Periods: Although, there are a few articles out there about comparing charge card accounts, one of the most commonly overlooked factors not commonly in these articles is the grace period. A charge card account grace period is the amount of time that it takes from the date of a purchase to the first date of interest and finance charges associated with that purchase. Generally credit card account grace periods will be around 14 to 21 days. By Americans paying off purchases within their grace periods, they will be able to avoid a great deal of interest on their balances. Step 4: Compare Credit Card Rewards: Finally, when comparing charge cards, Americans should compare the different credit card reward programs being offered. These charge card rewards programs allow Americans to earn points with each purchase. These points can be accumulated and later redeemed for great rewards such as cash back, gas cards, gift cards, free air fare and more! Because credit card account rewards are so prevalent these days, rewards programs are incorporated when calculating the cost of a credit card account. Therefore, when comparing charge card accounts, Americans should remember to apply for charge cards that offer rewards programs that they will use. This article is brought to you by: JEMCreditCards.com: Skymiles Credit Cards Compare Credit Card Offers
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