First time card holders discover credit card application hazards only months or sometimes years after the application itself. These are all understandable. People without any prior experience in applying for credit cards can make many mistakes because the whole thing can be a big complicated mess of paperwork.
For any first time potential cardholder, what you need to learn about is the APR or annual percentage rates. The annual percentage rates are one of the most important things to know before you append your name to an application for. All creditors, both banks as independent credit card companies are mandated by law to clearly post the range of their APR for all their clients to see.
Believe it or not, the best APR’s you can get can fall down to as low as one or even zero percent. But this is not always the case and a first time credit card holder is rarely given such sweet offer. You see, as a person is just about to get his or her credit card, this means that you have yet to start your credit history. A person’s credit history is what determines his or her FICO score. You can get good or bad interest rates on any loan depending if the FICO score is good or bad.
Remember you might discover credit card application mishaps too late by not checking your card’s APR rate. So make sure that this is the first thing you check out the next time you fill up those forms.