Selecting a credit card

If you intend to make large purchases with your credit card,  pay attention to the APR for purchases, which is usually entirely different to the one for balance transfers. You should also look at what kind of grace period different cards offer, so you don’t end up paying interest on your purchases straight away.

Also called a “grace period,” a free period lets you avoid finance charges for a specified time before you are required to start paying your balance. Without a free period, the card issuer may impose a finance charge from the date you use your card or from the date each transaction is posted to your account. If your card includes a free period, the issuer mails your bill at least 14 days before the due date so you’ll have enough time to pay.