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there's no shortage of choices when it comes to opening a credit card many online sites will compare credit cards interest rates rewards and fees for you they will also categorize cards into uses the first step to finding credit card deals is to make sure that your credit is in good standing if your credit is good you will probably be given a fairly high credit limit if your credit isn't great you will likely be given a low limit at first and you'll have to prove yourself through discipline spending and pay back before you can qualify for a raise many card issuers offer rewards like points or cash back to encourage you to use their cards some people like to use a separate Ward's card for purchases that they know they can pay off each month and on which they won't have to pay interest or fees this way they accumulate their points redeem them and come out ahead without having spent anything fees aren't the same for every card some cards with otherwise attractive features will include high fees and penalties some cards have annual fees some people like to pay off their balance in full every month most cards will not charge interest if you do this if you'll be carrying a month-over-month balance on your credit card interest rates will be very important to you when it comes to interest rates the lower the better the interest rate you'll pay on your credit card is called the annual percentage rate or APR and it differs among cards some APRs are fixed while others are variable meaning that they change periodically don't get dazzled by cards with low promotional APRs because those are usually only for a finite period of time and then switch to a higher APR the APR is on cash advances and balance transfers are often higher compared these rates among cards as well especially if you plan to use these features a lot balance transfers come with an exciting proposition transfer your balance from one card to another and pay little or no interest for a certain period of time there is usually a fee for this service such as 3% of the transferred balance it's good to have a few cards like one from a bank or credit union and maybe a store card you want to build up a good credit history so you can qualify for things like mortgages or business loans in the future but having too much open credit can harm your credit score because you will be perceived as undisciplined or reckless by law credit card companies must display credit card contracts online this means that you can read the fine print about things like interest rates fees how interest is charged rewards programs and other features stay financially fit friends [Music]