Credit Cards

An annual fee charged to the owner of the account. Charged for each year the account is active. The low or even no annual fee cards are ideal if you don't spend that much or posses multiple cards, and don't need a lot of benefits and perks.

The initial interest rate that you pay when switching card providers. The new credit card provider pays off your outstanding balance on your old card and transfer the debt to your existing debt to your new card. This is ideal if your current credit card carries debt and you want to lower your costs the coming months.

The interest is applied if you're not able to pay back the full amount within the time frame. If this is a case, then a low interest credit card might come in handy and will lower your costs.