Cards with prime benefits are available only to applicants with existing excellent credit scores (700 and above). For these high-rated customers, finance charges still run between approximately 12 and 23 percent per year. If your credit is average (600-699), you can expect fewer card choices, higher fees and fewer perks. You may be charged an annual fee and finance charges begin with your first charge. For a store-specific credit card, finance charges can start at 24.99 percent, with additional.
CONS:
Sometimes easy access to your funds is just what you don’t want. Look closely at your spending habits before adding a debit feature to your banking. If you’re prone to impulse buying or you’re constantly stretching a small amount of money over lots of demands, a debit card may make it harder to stay on a budgeting track.
The costs of a debit card are lower than those for a credit card, but they can pile up. Some merchants, for example, defray bank debit-handling charges by raising their prices; your gas station may have a “cash” price and a higher “credit” (including debit-card) price per gallon. Free-standing ATMs may charge up to $5.00 to dispense cash, and bank ATMs may or may not honor the cards of other financial institutions. Using the free-standing ATM at your local variety store on a regular basis can add substantial charges to your account
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