Best Credit Card Advice

Credit cards are so common now, it is expected that everyone has a credit card. People often don't look at the fine print when selecting a card and take the first one offered by their financial institution. But there is a lot to be gained by selecting the best credit card for you.
One thing to consider once you are selecting a credit card is if you have another card, you may be able to do a balance transfer. We've all heard of balance transfer credit cards, but a surprising number of people don't have any idea how a balance transfer credit card works. That's unfortunate, since these credit cards can save you a lot of cash in the short term.
Balance transfer credit cards allow you to transfer your existing credit card balance to a new card. Usually, to lower the interest rate that you are paying on your current credit card. Many balance transfer credit cards offer lower interest rates, meaning you will be charged less interest on your balance. This operates for a certain amount of time, lets say 6 months, in that time you can make an extra effort to pay off the balance and get back on track.
Another confusing aspect of credit cards is APR. Credit cards charge an APR, or annual percentage rate, which is your annual interest rate. The banks use this to determine how much interest to charge you if you haven't paid your bill in full at the end of your billing cycle. Most credit card APRs range from 12 percent to 22 percent, with very few being lower or higher. Your APR will depend on your credit worthiness. You should compare APRs when selecting the best credit card for you.
If you do select a credit card, avoid some of the pitfalls which cause pain to credit card users. If you just pay the minimum due on credit-card bills, you'll barely cover the interest you owe, to say nothing of the principal. It will take you years to pay off your balance, and potentially you'll end up spending thousands of dollars more than the original amount you charged.
You can also build a cash cushion worth three months to six months of living expenses in case of an emergency. If you don't have an emergency fund, a broken furnace or damaged car can seriously upset your finances.
If you do ever run into financial trouble, phone your credit card company. They are used to dealing with issues like this and may have a solution that works for everyone.