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Take the time to consider credit cards in the context of your budget, debt picture, and other financial priorities so you can better use credit cards to your advantage.

What’s New For 2015?

Credit Card Terms and Conditions

The terms and conditions on each credit card issuer’s credit card agreement are different, so make sure you read the fine print carefully before signing a contract. In general, you should be aware of the card’s annual percentage rate, the fees associated with your card, and how that can impact your credit score. And the terms are frequently changing, so look back to see what has changed.

The following is a brief primer on the major categories of credit card fees.

Fee categories

Cards vary widely in their interest rates and fees. Some charge much higher rates. For example, the MasterCard MCC card costs 9.9% interest for purchases and 1.8% for balance transfers. That’s a bit more than the 2.5% interest it charges for balance transfers with a balance of $0 or less. If you pay the balance off over the life of the card, the total interest rate is about 2.5%. (For the record, Visa charges 2.25% for balance transfers and a slightly higher 0.75% for purchases.) If you pay the balance off in full, you pay an effective annual percentage rate of around 4%. The good news is that this is less than the 9.9% it charges on a $5,000 balance. The bad news is that it’s still more expensive than a credit card you can buy yourself. If you want to get a rate as low as 3.99%, consider using a prepaid debit card. There are lots of these and they’re usually easier to find than you might think. One of the best ones is a Visa Infinite Card from American Express that can be bought for only $0.99. It is even less expensive than most credit cards. Another great one is a Visa Platinum that costs a whopping $95 per year. This works on a balance of $500 and lets you load up to $100,000 onto it.

How to Save on Visa Infinite Cards

The best way to save on Visa Infinite Cards is to sign up for a credit card through a discount site like Cardpool or Voyager. They have the biggest discounts for the best rates.

This is a credit card for people who like to travel, but aren’t good at managing money. It’s a great way to save money while traveling for short trips or big trips, but be careful because you don’t want to have to pay any cash-back fees or get charged a balance.

Learn More: 5 Ways to Use a Credit Card While Traveling

If you do choose to do this, you should keep in mind that you can only use the card for your travel. And you have to apply for a credit card online or in writing.

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