Know Terms to Compare Card Offers

All credit cards come with a set of terms. These are, in essence, the "rules" for using the card. The terms must be disclosed in the card application literature; they're also on the back of every statement. Some of the most important terms you should be aware of are the interest rate, annual percentage rate, due date, grace period (the interest-free period of time between when you make a purchase and when you pay for it), cash advance rates and fees, the late fee and the over-the-limit fee. Always read the card terms carefully before you apply.