9 Things to Consider When Choosing a Credit Card

The thirty-day rule: credit card companies can change your terms and conditions at any time with only thirty days notice.

Transaction fees on balance transfers: if you’re moving to a new card with a lower rate, be sure this lower rate isn’t offset by a transfer fee!

Is there an annual fee?

What is the cash-back incentive limit? A 5% cash-back incentive isn’t so good if there’s a cap that restricts you.

How long is the introductory interest rate valid? And what is the long-term permanent rate? Make a note in your calendar.

DO NOT take cash advances. The special low rates are not available on cash advances.

Are you an international traveler? Check to be sure your card doesn’t charge you extra for transactions outside your home country.

Penalties for late or missed payments? Check the fine print to see just how much your interest rate will rise.

Do I need this card? Why? The most important consideration of all.