This percentage is known as your credit analysis ratio, a figure that represents what you owe compared to what you earn. It's a clear indicator of your financial well-being.
Some credit cards require an annual fee.
This is the yearly cost for owning the card. The annual fee will be posted to your balance when you open the account and added each year on the anniversary of your account opening. Many annual fees can be waived later for good credit management practices or by simply asking the credit companies. If you carry an unpaid balance, the APR is your best indicator of account costs. The higher your APR, the more you will pay in finance charges.