What are the charges and interest rates? : Credit card companies charge high interest rates on the unpaid balances in your credit card account. Apart from the various interest rates, the credit card company also charges an annual fee that may vary from time to time. A single credit card account can have several different Annual Percentage Rates.

Read the papers beforehand and confirm it with the credit card company, as some people have their cards with their limit amount debited by the company even before they could use their card.

What about the deposit money?: The amount you pay as the security deposit vary from company to company, and most of the credit card companies refrain from paying interest on the security deposits. Most of the issuer may have a minimum of $300 or $500 as the security deposit and this will be your credit limit or may be some amount higher than this according to their levied calculation. Be well informed about how long the money has to stay in your account after it has been closed; as some banks or card issuers keep the deposits for a certain time frame to cover up for any pending bills procured by you.

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