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KBleess

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What should I look for and what should I avoid when wanting to open a credit card?
I am fairly new to the credit world. I opened my first credit card when I was 18 and I have Fair - Good credit scores. I want to find a credit card that I can use that will be worth opening. I would mostly use it for paying bills, buying gas, and buying groceries. I don't want a card with an annual fee or high APR. Also what would be helpful is if someone could explain some basic credit terminology? Like do interest rates only apply to late payments? Thanks

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Thats a lot to try and explain here.

Take some time and read the articles and blogs on here to learn more about how credit works.  There is a ton of info here, Use it.

Interest rates are explained in the paperwork that you get when you open a new card.  Interest is generally applicable to the balance that is left after you make your paymetn each month. There is usually a higher interest as well as late fees that apply if your payment is late. A late payment will also lower your credit score and will have an effect for 7 years so you really want to avoid paying anything late.

It really is to your advantage to educate yourself about how credit works. Your credit is a reflection of how well you manage your money. it will follow you for the rest of your life. It will effect everything from your interest rates on credit cards, auto loans,  mortgages and, Insurance rates. It can even effect weather you are able to get a job or are able to rent an apartment.  It's probably the most important number in your life. 

Realize that your score is not about how much money you have, it is a reflection of how well you manage it.

Good luck.

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