Consumer Credit Cards

APR, or Annual Percentage Rate, is the interest rate you’ll pay on any outstanding balance on your credit card. It’s expressed as an annual rate but typically applied monthly.

Look at factors like the APR, rewards programs, annual fees and any additional benefits such as purchase protection. Also, check the card’s terms for grace periods, late fees, and foreign transaction fees to see if it fits you.

Opening a new credit card can temporarily lower your credit score due to the hard inquiry on your credit report. However, if you manage the card responsibly—by making payments on time and keeping your balance low— you can use credit cards to your advantage and help improve your credit score over time.

A balance transfer involves moving debt from one credit card to another, usually to take advantage of a lower interest rate. While it can offer an appealing solution, it should not be done regularly.

If you've never performed a balance transfer before, it can offer some relief to your financial situation and should be considered.

If you've had balance transfers done in the past and are considering another, you may want to look at a more long-term solution that reduces your debt completely.

Read these four myths about personal credit to learn about how your credit is affected by different actions.

If your credit card is lost or stolen, you should immediately report it by calling 800.706.9991. A Seacoast team member will freeze your account to prevent unauthorized transactions and issue you a new card.