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Chase Platinum |
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Choose all the privileges of Platinum, with a 0% APR for up to 12 months.
Now that's interesting. Apply Now! 0% Introductory APR for up to 12 months on all purchases and balance transfers*
Get great Platinum privileges
*Valid for introductory period so long as you comply with the terms of your account. Also, we apply payments to introductory balances before balances with higher APRs. This means that the length of your introductory period may vary based on your payment amounts and the APRs for other balances on your account. Learn more about rates, fees, and other cost information by reviewing Pricing & Terms. **Covers U.S.-issued cards only. Visa's Zero Liability policy does not apply to commercial card or ATM transactions, or to PIN transactions not processed by Visa. See your Cardholder Agreement for more details Back to the card directory... |
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Credit Card Tutorial
When applying for and using a credit card you must be aware that there are a number of established terms used to describe the various features of the card. It is a good idea, therefore, to be familiar with these terms and what they mean to help you in choosing and in using your card.
Interest Rates If you are like the vast majority of the population and you usually carry a substantial balance forward each month, then the interest rate you pay has to be your main consideration when you are looking for a new card. However, you may want to consider taking out a personal loan to consolidate all your debt in one go as this can be far better value for money. This will again depend on your individual circumstances; even though credit cards generally incur higher interest charges than personal loans or secured borrowings (see mortgages and re-mortgages), their major advantage is the flexibility that they provide. Interest Free Period If you only have a small amount to repay each month on your balance and you pay it off in full each month, by paying the balance off each month you will not usually pay any purchase interest, unless you have a low-interest card which charges you interest from day one. APR The Annual Percentage Rate (APR) is the cost of the actual credit you take out. It is expressed as a percentage rate over a yearly period and is told to you before you sign up for any credit card deal. In some situations you may be able to acquire a variable rate deal where the Annual Percentage Rate will change in relation to certain factors (indexes) and in relation to interest rates etc. The issuer must provide you with suitable documentation and information to describe how the rates may change and how this rate has been determined. Before the APR charges are applied or any fines are incurred, there is generally a grace/free period which gives you time to pay off the credit to the sum which you have taken out. The bill from the issuer must be posted to you before the end of the free period to give you enough time to pay off before extra charges are added (e.g. APR and other fines). Balance Transfer Rates A Balance Transfer is when you get offered a new credit card with a lower interest rate or no interest charges and you move your balance over from your old card, so you will then pay no interest on that balance for as long as the offer lasts. Cash Advance Interest Rates & Charges We recommend you don't take cash advances unless it is a last resort, as you will be charged an even higher interest rate than normal, and you will have to pay the cash advance handling fee. Cash back rewards and other incentives If you usually pay your balance off in full each month, then interest rates are unlikely to be an issue, providing you select a card which gives you an interest free grace period. As all retailers have to pay their credit card clearing companies a percentage of every sale, cash-back cards allow them to share some it with you. These cards range from straightforward cash award programmes, such as Capital One Circle Rebate and American Express Blue, through to supermarket loyalty point credit cards. There are also more comprehensive membership reward programmes on offer, such as Air Miles and American Express Green. Annual Fees Some issuers will require you to pay an annual subscription fee of a set rate, perhaps only a few pounds depending on you circumstances. This is a set fee, a one off payment made each year and is not generally related to interest rates or other indexes as in the case of APR. Naturally, not everything is this simple, and some cards available may have other fees included. For example you may have to pay extra to get a cash advance or if you make one of your payments too late. If you exceed your credit limit, this may also result in a fine from the issuer and some issuers may even charge a monthly fee whether you have used the card in that particular month or not. |