Recently I have done some research on credit card related things, and that’s really impressive while most people are lured only by the marketing slogan but not put attention in most important things behind the credit card offers. Here is an excerpt of the most mistakes made by people who apply for a credit cards.

1. The key area you’ll need to look at and compare is the APR (Annual Percentage Rate). The APR is what you will pay on what you purchase when the incentive period runs out. APR rates will vary among credit cards, so it is always in your best interest to compare and shop around. The lower APR rate you get, the better off you’ll be. But take a little attention to research another side, basicly each type of credit cards will have the advantages and the disadvantages in common, I mean it might be has 0% APR, but other rate might be higher than another. An example case study: HSBC Credit Card.

2. Another concern with choosing your credit card is the minimum payment amount. Most minimum payment balances will start around 3%, although some can be lower while others tend to be quite a bit higher. The interest free period is a concern as well, as you will obviously want to choose the longest period that you can keep the payments down.

Most business credit card will offers you a really interesting trick: free for the first year and no pre-set spending limit or finance charges. This is alright if you use it wisely on the first year, but if you are using it too much, the next year’s paybill will really suck you up. With this tips I hope you will stay aware and careful choosing your credit card. As far as I know the most balanced feature that will fit you as a businessman, it is HSBC Credit cards. See the details there.