> Choosing a credit card
>
> Factors to consider
>
> Chances are your mailbox is filled with various credit card offers, each
> promising to be the "perfect" card for you. But before choosing a card,
> take a few minutes to carefully consider whether that card actually
> meets your needs.
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> Read the fine print
>
> Make sure you understand the terms and conditions of any offer.
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> Interest rate
>
> If you plan to keep a high balance, shop for the card with a low annual
> percentage rate (APR). As a trade-off you may have to pay a higher
> annual fee.
>
> Always check if a low rate is part of an introductory offer. If so,
> issuers may raise the rates considerably after the introductory period.
>
> The 18 percent interest rate cap on credit card accounts was recently
> repealed, so consumer credit companies may charge any interest rate they
> wish.
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> Annual fee
>
> If you pay off your balance every month, look for a plan with a low or
> no annual fee. The interest rate is not a factor because your account
> won't be accruing interest.
> ------------------------------------------------------------------------
> Grace period
>
> While many credit cards issuers give you 25 days to pay any new balance
> without incurring interest, some do not. This means you will be charged
> interest from the moment of purchase, regardless of whether or not you
> pay the entire new balance on your bill. There are many other factors
> involved in choosing a credit card. Some issuers offer cash back
> programs, free rental vehicle insurance, or other incentives to use
> their card. Examine the offer carefully and choose the card tailored to
> your needs.
>
> Dealing with a financial institution located within Wisconsin assures
> you the institution is subject to Wisconsin laws.
>
> Wisconsin law limits:
> *The late payment fee to $10 *The minimum finance charge to .50 cents
> *The cash advance fee to the greater of $2 or 2% of the cash advance
> amount up to a maximum of $5 per transaction. *The one-time charge to
> $15 for any check returned to the creditor for any reason
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> Call or write:
> Department of Financial Institutions
> Division of Corporate and Consumer Services
> PO Box 8041
> Madison WI 53708-8041
> Phone: (608) 261-9555