Answers matter. Ask as many questions as you feel necessary when signing up for an offer or after you have received your new cardholder agreement. The creditors are required to disclose any information on the questions you ask as they pertain to the conditions of the card.
The payment due date on some cards may fluctuate randomly, so be sure to open your statement and pay attention to the due date every month. If the payment is not received by the due date, you may be charged late fees. The amount of late fee will vary between credit card companies and will be outlined in your disclosure.
If you find that you are nearly maxed out or are close to your assigned credit limit, you could realize over-the-limit fees. These charges vary with the credit card companies and should be outlined in your disclosure. If you max out the card, it may affect your interest rate. Be sure to read the default clause in the disclosure to determine if this holds true for your credit card.
For most cards, the cash advance interest rate will most likely differ from purchases or balance transfers. This information is also laid out for you in the disclosure agreement.
With a deferred interest account (90-day-same-as-cash deal), if the charge is not paid in full by the end of the introductory offer period, the accrued interest is capitalized (added back to your original balance) from the onset of the purchase.
If balance transfers are allowed, the disclosure will inform you on the conditions. It will spell out for you any fees or requirements. Any payments made after you accept a balance transfer will apply toward the balance transfer first; therefore any purchases made will continue to accrue under the assigned rate of the purchases.
