Credit Card Features You Should Be Aware Of
Advertising Disclosure is an independent, advertising-supported web site. receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Cardholder Benefits » Credit Card Features You Should Be Aware Of

Credit Card Features You Should Be Aware Of

Add to Favorites:

Millions of people from all over the world use credit cards more than ever today. Be it for purchasing grocery at a super market or some product from an online store, there are a number of purchases being made using these cards. Despite this there are innumerable people, novice and experienced alike, who are still unaware of some of the basic features on their credit cards. Before you set out applying for plastic money, there are some features about it that you should definitely be aware of.

Various types available

Unlike presumed by most people, there are various types of credit cards that are available today. Each of these cards is designed to target a particular segment of people. While the standard ones are recommended for personal use, there are premium cards for a select few in society. Charge cards are for people who don`t like any limits on their credit card account and store cards carry limited usage.

Credit limit

Each card comes with a predetermined credit limit, especially if it involves a revolving credit. The only exception to this is the charge card for which you need to pay off the balance completely at the end of each billing cycle. You can use the card for various purchases you make, until you reach your credit limit. Spending over the prescribed limit can lead to hefty fines in the form of over the limit fees.

Credit card statement

This is the statement that will either be mailed to your address or emailed to your account at the end of each billing cycle. This statement will contain the details of all the transactions you have made in the current billing cycle. You can also obtain the details of the total outstanding on your card, the balance available and the various fees levied on your card. Most important of all, the statement will provide you with the minimal balance that is due on your account at the end of the billing cycle. Not making this payment on time can lead to delinquency charges and late payment fees being levied on your credit card account.

Annual Percentage Rate

The annual percentage rate is commonly referred to as the APR and is the rate of interest applicable on your card either after the grace period or after the expiry of the introductory offer. The APR varies from one bank to the other and also from one customer to the other. There are various factors that determine the APR being offered to you.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Other Cardholder Benefits Research:

Related Research:

How to Get Free Wi-Fi in the Air

By Herbert Moore, Posted: September 28, 2016

Sometimes in-flight Wi-Fi is the bare necessity when you travel abroad or within the country. However not all airlines offer free in-flight Wi-Fi. There is only a couple of airlines that will allow you to use Wi-Fi ... Continue reading

Amazon Credit Cards Review

By Allison Martin, Posted: May 30, 2016

When was launched 20 years ago, few could have envisioned how far the company would come. What was once an online specialty bookstore is now an Internet juggernaut that sells nearly anything and has made major inroads into ... Continue reading

How Much Do Shell Cards Really Save on Gas?

By Allison Martin, Posted: April 20, 2016

There is an endless amount of gas cards on the market, and practically every major gas station, including Shell, has options to choose from. In fact, Shell offers two options for gas cards for consumers. Continue reading