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Shopping For a Credit Card

Many consumers turn to credit when faced with unexpected home or auto repairs, as well as medical emergencies. And credit offers convenience, enabling you to rent a car or hotel room or buy airline tickets over the phone. In many situations, credit offers peace of mind; there is no need to carry large amounts of cash when shopping or traveling.

When shopping for a credit card, you should first decide how you plan to use it so you can compare features. A credit card allows you to carry a balance for as long as you want, provided you make at least the minimum monthly payment due.

If you will pay your credit card bill off every month, a low annual fee is important. If you usually carry a balance, look for the lowest interest rate. Shop for a grace period, the amount of time after your purchase during which finance charges are not assessed. Some banks, credit unions, and finance companies give you up to 30 "free" days, while other card issuers start assessing finance charges immediately upon purchase. In fact, interest starts accruing immediately on cash advances - there is no grace period and the interest rate is higher than that applied to regular purchases.

If you have no credit history, or a bad credit history, you may be able to obtain a secured credit card. A secured card works just like a regular Visa, except that you must leave a deposit - usually between $250 and $500 - with the issuing credit union as collateral. If you default on your payments, the credit union takes the money owed out of your deposit.

The interest rate and annual fee on a secured card are often a bit higher than on a regular card. But a secured card can offer you the convenience of a regular credit card and the opportunity to improve your credit record. Make the most of this chance to build an unblemished credit report!

NuVision offers Secured and Unsecured Visa Credit cards all at fixed rates. Apply to today to start earning rewards all while enjoying the convenience of a NuVision credit card.

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