When applying for a credit card, there’s more to the application than you think.  Have you ever noticed all of the fine print that’s included with your application?  When it comes to the fine print, many people don’t read it and later find out that there are fees that they didn’t even know about.

If you’re planning on filling out an application soon, there are some rates and disclosures that you should look at before you hit that submit button.

Know about special offers – Many credit card companies play the game by offering special offers.  These offers may be something like 0% for 12 months or $50 sign up bonus.  A lot of people don’t realize that this is a special offer and that it will end soon.  I know it sounds straight forward but make sure you read the disclosure to make sure you qualify for the rate.

The reward system – If you’re going to read anything on the rate sheet, always make sure you read how the reward system works.  A card may say you can get 5% cash back but you may not know that there are many restrictions with this 5%.  You may find out that you have to spend $1,000 a month to qualify or you can only get that 5% at gas stations only.  You have to make sure that you know where you can get those reward rebates at.

Read your state’s disclosure – Every state may different rules when it comes to credit cards.  Did you know that if you live in New York, you can call up the banking department and they can give you a list of cards with rates, fees, etc.  Many people get ripped off by applying for a card that doesn’t suit their needs and they find themselves paying more in fees rather than the items they paid for.

The Fees – Every disclosure is going to tell you every fee that can be charged on your account.  After all, this is the law.  Here, you’ll find the annual fee, minimum finance charge, balance transfer fee and many more.  Always make sure you’re aware of the fees and what you can potentially be charged.

I know, a rate and disclosure sheet usually looks like a bunch of gibberish but it isn’t.  Make sure that you read the terms and conditions closely before you apply.  As long as you do it, you’ll be informed on your credit card and how it works.

Related posts:

1. What To Know About Credit Cards
2. Ways to Snag A Great Credit Card
3. Credit Card Fees
4. Credit Card Reward Programs
5. Are Credit Card Rewards Disappearing?