In this case, a lower interest rate can save you more money than a grace period would. Most banks and thrifts charge interest from the day they process your charge slip when you use your card to get cash. In addition to this, some cards are now assessing cash advanced service charges based on a percentage of the amount received. It used to be that service charges were based on a fixed fee, regardless of the amount of transaction. If you avoid interest charges by paying off your bill each month, seek out a card that offer very low interest rates plus a grace period on purchases.
Some institutions periodically offer cards with no fee for the first year as a promotion.
The only significant premium with these cards is the extra amount you pay in higher annual service fees. Besides the fancy finish of the card, the only other benefits you get with premium cards are travel insurance and the extra protection if your card is lost or stolen. Copyright Search Engine Guy 1994-2001 James R. Colbert w.m.