Choose the right credit card
News from Fairbanks Daily News-Miner:
FAIRBANKS — A credit card is like a chain saw — it’s a handy tool, but it can create havoc if used improperly. The same advice applies — choose the right tool for the job and follow safety rules.

Credit cards are not alike. That’s why it’s important to review a card’s terms and costs before you apply for it.

In general, if you expect to pay your credit card bill each month, choose a card that has no annual fee and has rebates or rewards that work for you. Make sure the creditor grants you a “grace period” before incurring interest charges; not all card companies offer this option. The problem with this type of card is you pay interest from the date of purchase.

If you don’t expect to pay your card balance most months, go for a card with a lower Annual Percentage Rate (APR) and rebates or rewards that will justify any fees. Watch for teaser rates. If the card has a low, introductory interest rate, be sure you know when the higher rate will take effect and what that rate wi…………… continues on Fairbanks Daily News-Miner
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Changes Coming To Debit Card Use
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Currently, most people pay with plastic, rather than cash or check.This week, Congress is expected to tackle the controversial issue of debit card swipe fees which could impact everyone from banks to buyers.Every time a debit card is used, the merchant pays a processing fee to the bank. The swipe fee reform would significantly limit those fees, ultimately helping the merchants, but decreasing revenue for the banks.Right now, the party least aware of potential impacts is the consumer.Lyn Pletscher checked out a customer at her namesake store on Idaho Falls’ A Street on Monday afternoon. But 2 to 3 percent of the debit card transaction is headed to the bank.“I would say probably 90 percent of all transactions are done by credit card,” Pletscher said.That equals a whopping $ 8,000 annual expense for Pletscher’s small business.But thanks to federal swipe fee reform set to start on July 21, banks could be limited in how much they can ch…………… continues on
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