Read your credit card agreements carefully, because the contract is binding. Once you sign, you have entered into a legal contract where the terms of the contract include:

• Credit limit. This is the maximum amount you may charge, and it includes interest and fees.
• Annual percentage rate (APR). This is how much is charged on carried over balances.
• Grace period. This is the number of days you have to pay your balance in full before interest kicks in.
• Fees. These are the fees you are charged. Fees can range from cash advances, and balance transfers to late fees and annual fee.

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