Key questions to ask before signing up for a credit card

[LadynRed]

Whether you apply for a card, ask a phone representative 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.

Find out:

• Is there an introductory rate? What is it and how long does it last?

• 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?

• 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?

• May I pay my bill online?

From bankrate.com: http://www.bankrate.com/nltrack/green/cc/basics1-2a.asp?caret=3

[scorch]

I would also make sure the account would be reported to the big 3. If it won't, I would walk...

Also, if your feeling hesitant, there's probably a good reason for that..

[Mische]

Wow, thank you for taking time to post these questions. They are surely help.

[Credit_guy]

other questions that you might want to ask before applying for new credit are "is this new application necessary? wont it hurt my score if i'll go for it?"

[william]

Thanks for posting such useful information for us.its helps us for being purchase a new credit card.Because i got in trouble few month latter when i buy a new card......

[bloomingdale]

Maybe, you can already ask the fine prints in advance. 

[ptatohed]

For me, all I care about is no annual fee, maximum cash back rewards.