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Why are some credit cards not available in particular states?

In some states, like Wisconsin for example, consumer laws favor consumers and that restrains some credit card issuers. Whether or not a particular credit card offer is made available to Wisconsin residents or residence of other states depends entirely on the bank and varies with each credit card issuer.

What is a grace period?

A grace period is the amount of time after a due date of a bill that may pass before late fees are applied. Grace periods are usually 10-25 days and may depend on the company.

Are there any hidden costs associated with credit cards?

Technically, there are no hidden costs associated with credit cards. However, there may be application fees, start up fees, late fees or annual fees. Any fees of this kind will be laid out for you in the application process. The best way to know all the charges you may be receiving is to read carefully every piece of information that you sign your name to.

How do credit card companies come up with pre-approved credit cards?

Before the bank mails out a pre-approved offer, they get a list of potential candidates from the credit bureaus. The bank sets certain criteria and then the credit bureau gives them a list of people who meet those criteria. Once the list is compiled, they send out a mailing with enticing offers and special deals to everyone on the list.

How does a balance transfer work?

If you have a balance on one credit card and then you receive another credit card, you may move the balance from the first card to the second. The issuer of the second card then pays the first card off and charges you the amount of the outstanding balance.