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Read the Fine Print
Many people prefer to use credit cards when paying for their purchases. Before using a credit card, you should read the fine print in your credit card agreement. Here are some additional charges you might pay for using the card.

APR
The first thing to look for in your agreement is the APR (Annual Percentage Rate). The APR is the interest or finance charges that accrue if you do not pay your total bill each month. The number may look low, but the APR increases the amount of money you have to pay back and the interest can add up very quickly. Credit card companies advertise cards with a "low APR." This encourages consumers to sign up so they can get the low rates. Beware, however, that this low APR probably lasts for a few months only. Your agreement should state when the interest rate changes.

Grace Periods
Some credit card companies give you time to pay back what you borrowed without additional charges. This time, usually between 25 and 30 days, is known as the grace period. If the bill is paid in full within the grace period, no late fees or interest is charged to your account.

Miscellaneous Charges
Miscellaneous charges can add up quickly. Some companies charge an annual fee to use their card. This is usually a flat fee that shows up on your billing statement once a year. Companies might also charge you for using the card to borrow cash or for spending over your limit. Read your contract carefully so that you can avoid extra charges.

1
Click on the best summary of the passage.
A.
The fine print in your credit card agreement should tell you about additional charges. You might have to pay an annual fee. You might find that you have to pay a fee for using the card to borrow cash. You might also be charged for late payments or for spending over your limit.
B.
The fine print in your credit card agreement should tell you about additional charges. Check the APR on your credit card. Credit card companies will advertise cards with a low APR. This low rate might last a few months only. Your contract should tell you how long a low interest rate is in effect.
C.
The fine print in your credit card agreement should tell you about additional charges. Look for the APR on your credit card. Check to see if the APR will increase. Find out if you have a grace period for repaying the money you borrow. A fee might be charged for owning the card, borrowing cash or spending over your limit.

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