Learn What It Means To Use Household Credit Card
Household Bank may be best know for offering great loans, but they are also a good place to find credit and the Household credit card is quite a good option because it provides you with complete freedom to pamper yourself whenever you want to. In addition, it is a credit card that can prove to be very handy when needing to deal with emergency situations. Thus, before you opt for other credit card options, be sure to check out the many features provided by this bank that will come your way if you go the Household credit card way.
Annual Interest Rate
When you use your Household credit card for making retail purchases, or cash advances or even balance transfers, the annual interest rate works out to approximately 18.324 percent and most rates are variable unless otherwise stated. In addition, with a Household credit card, you also get a maximum of fifty-two days for making payments and during this period no interest will be charged on bank transfers. Also in the case of cash advances, provided the outstanding balance is paid in full before the due date, there is no interest during this period.
In case, only part of the outstanding balance is paid, then interest will be charged on the sums outstanding beginning from the date of the transaction and ending when full payment is made. Furthermore, with a Household credit card, you only have to make minimum payment of two percent of your balance or a minimum ten dollars, the sum that is greater of these two is the one that will have to be paid.
The Household credit card also gives you minimum credit of about five hundred dollars and a maximum of about six thousand dollars, though there is no annual fee that has to be paid for using the credit card. However, you will need to pay two percent as handling fee subject to an approximately five dollar fee for every cash advance that you make and the same percentage is charged in the case of Balance Transfer and an additional 2.75 percent has to be paid as an administration charge when transactions are in foreign currencies.
Finally, you will also have to pay about forty dollars if you exceed your Household credit card credit limit, if you pay late or if the check for a Balance Transfer is not paid and even when a payment is returned as unpaid. In case you are served a default notice, you will be charged about eighty dollars.
