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by: LandonMcGehee
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Visa cards are ubiquitous, it seems. It may be because Visa offers various credit card products for so many customers to fit their needs. Businesses, students and individuals can get cards for any number of purposes, and many of the cards are available online. As when signing any other contract or entering into any other financial arrangement, consumers should be certain to carefully read the Terms and Conditions before taking out a credit card.

Many Visa products offer low introductory rates, often down to 0% APR on purchases and balance transfers, and many have no annual fees. Balance transfers to new cards with low introductory rates are very common, and low rates on balance transfers may be the most important factor to some consumers who have large balances on high-interest cards. As an added incentive to consumers to do business with them, some companies' Visa products also allow users to earn reward points that can be used toward cash or travel or airline tickets.

Citi's Platinum Select Visa card, for instances offers 0% APR on purchases and balances transfers for up to one year. After the one year, the normal APR will be 10.49% with no annual fee, though the APR for cash advances will be higher. Of course, keeping the low rates depends on a number of conditions, as is common to credit card companies. If the cardholder defaults on other loans, for instance, the APR can increase dramatically to the 30.99% variable default rate. Using the card overseas can incur charges, as can using it for cash advances. Reading the Terms and Conditions is essential.

A similar deal is offered by Chase on its Platinum Visa card. The introductory rate is the same 0% APR, and cardholders can enroll in rewards programs to earn free hotel stays, flights and more. Online bill paying and secure accounts are available as well. Again, the rates vary for balance transfers and cash advances and increase after the first year.

Other cards, such as Discover's Platinum card, offer similar rates and 5% cash back rewards. Sometimes, reward points or cash rewards are increased if the cardholder shops at certain stores. Often bookstores, gas stations, home improvement centers and restaurants will team with card companies to encourage cardholders to spend their money in those establishments. Some card companies even offer gift cards just for applying for their credit product.

The most important thing to remember when using any procedure of shopping and applying for credit cards is to read the Terms and Conditions that apply to the account. If you don't understand what you're going to be responsible for and end up finding yourself deep in debt because of it, no rewards program in the world is worth it. Consumers should be familiar with the APR charged for each type of transaction and of any fees that may be incurred from other activities, all of which will be covered explicitly in the Terms and Conditions.

About the Author

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