It’s sad but today most credit card companies are devious and they’ve designed everything possible into the fine print of their terms of service to catch you. Therefore, when looking at any credit card offer, make sure you take a close look at the fine print.

Believe me, I am fully aware that it’s purposely put together to appear like a maze, but because it’s so vitally important to your financial well-being and with the current trend towards “relatively” easier-to-read summary boxes you no longer have a legitimate excuse for ignoring the terms of service.

That being said, I’ve outlined a few of the key aspects to look for that are normally “hidden” away in the fine print of most credit card offers.

The Annual Fee Although it’s not as common as it once was, it’s still around. Especially, on the so-called higher status Gold and Platinum cards which still tend to charge much higher fees than the “basic” credit card. Annual fees are simply an easy way to get another $39.95 to $79.95 or more from each and every customer. It may not sound like much but it adds up when you’ve got millions of customers. If you give the company a call you can normally get it waived and if they won’t then don’t take out the card or cancel the one you’ve got – it’s the principle of it.

Late Payment Fees and Penalty Charges Cash advance fees, late payment charges and exceeding your credit limit are the types of fees you need to pay attention to when checking out the fine print. Many cards have unjustifiably high fees and if they do you shouldn’t sign up for them. Just say no!

Calculating Interest Because it’s so hard to understand (they make it that way on purpose) this is often one of the most overlooked, yet important aspects hidden away in the fine print. There are basically three methods being used to calculate interest on your balances.

Adjusted Balance Not as common as it once was but some companies are still using it. In a nutshell, you are charged interest on whatever your balance was on the day the company sent you the bill.

Previous Balance Basically, this method is simply a horse of a different color. In this version you are charged interest on your balance as it stood at the end of the previous billing cycle regardless of how much you’ve spent or paid off since. Some consider this a tad bit easier to understand.

Average Daily Balance Last but certainly not least. This method is currently the most common and it’s also the most complicated. Using this method your balance is added up at the end of each day in the billing cycle, it’s then divided by number of days that have transpired in that billing cycle and interest is charged in this amount. I know, clear as mud.

If your balance jumps around this method may be slightly better for you than the other methods because it keeps you from paying full interest on a balance that just happened to be large on the billing date.

You should also be paying attention to the monthly rate of interest rather than just relying on the APR. APR is an estimate of the total cost of borrowing but it’s the monthly interest plus the various fees and charge that will show you exactly how much you are paying.

Grace Period This is extremely important for about 40% of all credit card holders because that’s the approximate number of people who pay off their balances each month. It’s also important for the remaining 60% because then you can avoid interest on new purchases for the first 30 days or so. As a result, make sure that the card you’re looking at has a grace period on purchases; otherwise, you could end up being charged interest from the moment you buy something. On the other hand, virtually no credit card company offers a card with a grace period on cash advances or credit card checks.

Currency Conversion Fees This only applies if you plan on using a card outside the country. If it does apply to you, take a look at what you’ll be charged for transactions made in other currencies. Some cards are much more expensive than others.

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About the Author:  Levi Solomon is an expert author, who also invites you to learn about brown trout fishing and scallop fishing at his Fishing Worms site.

Using credit cards can strengthen your personal protection. While appearing to be the same, there are significant differences between credit cards and debit cards. A big Caveat…

However, this strategy does come with a big caveat.

* If you have the discipline to pay off your balance each month, then this strategy is for you.

* If you’re prone to over-spending and need to limit temptation, this may not be the best strategy.

Only you can decide… it’s your money.

It comes down to liability and control. About credit cards…

If you lose a credit card, your liability is limited to $50 and you have 60 days to make a written claim to your card company.

With a credit card, you’re using OPM or other people’s money to make purchases. At the end of the billing period, you receive a statement and pay back the lender.

The card company makes money from this service by 1) charging you interest on any outstanding balance, and/or 2) annual and other fees.

When you use your card, you’re increasing the amount of control you have over a specific transaction.

For instance, if you have a dispute with a merchant. You may choose to call your card company and tell them not to pay the merchant and to remove the charge from your account.

In many cases, the card companies will withhold reimbursing the merchant until the matter has been resolved.

At no time was your money at risk until you were satisfied with the outcome. The merchant however, was pressured to resolve it to your (and the credit card company’s) satisfaction so he could get paid. What about debit cards…

With debit cards, the limit of your liability goes from $50 the first two days it’s lost, to $500 up to 60 days from being lost, then your liability is limited by your account balance.

With a debit card, the money is taken out of your account within 1-2 days, and sent directly to the merchant. If you have a dispute, the merchant is less motivated to help you because he already has your money.

He’s in the power position and controlling your money while you try to resolve this issue. You have to be careful not to upset him too much or he’ll just keep your money and write you off as a customer.

Final Note: If you can, use your credit card as much as possible. For those a little nervous about this, when you get home from purchasing something, immediately transfer that amount of money to your credit card company or another account you use exclusively to pay your credit card bills.

People going overseas on vacation break are more and more being advised to use a prepaid credit card for their vacation expenses. This is because by credit card abroad comes with added paybacks, counting extra safety, expediency and their number of uses in a crisis. On the other hand, some prepaid cards present you the chances to put up your credit score that has made them very fashionable.

Additionally, nowadays tourists are conscious that if they do take a prepaid credit card with them on their vacation break, they will be competent to make use of in most tourists’ places. Traveler’s cheques still remain demanding, though they do not move on the way to with some of the supplementary benefits seen with travel prepaid cards. Get big amounts of hard cash is noticeably even less advantageous because it is hard to prove how much you had and how much should it find stolen.

There are assortments of these prepaid cards that have been designed particularly for use overseas, and it is imperative that you regard as your entity requirements and conditions when you weigh against travel cards since some charge commission on purchases overseas. However, luckily, some don’t. Since traveling will take you to one or more destinations for a few days, you have to cautiously arrange the things that you will carry with you.

It is made-up to be a relaxing doings, whether you do it for commerce or vacation, and if your preparation does not turn up, or you fail to remember something, then it can be more traumatic than the work you have left at the back, or it can just be a catastrophe. The single thing you will have to regard as while roaming is your everyday expenditure. For certain, you should be on familiar terms with that this is not precisely the most excellent time in our cost-cutting measure. This, nevertheless, should not hamper you from enjoying the striking sites or taking on a venture.

Also, some prepaid credit cards for traveling will present zero percentage interest on shopping made overseas, if they are made inside a set amount of time from the time while account opening, and some card’s even presents tragedy protection should the most terrible come about when out of the country, which acts as a good match to your travel insurance. This can consist of services such as very quick card replacement and emergency hard cash advances.