Can someone explain credit cards to me?

Question

I’m wanting to get a credit card, and I’m unsure what’s the best one to get. My credit score is good I guess, but I want to raise it a bit more. I’ve never had an actual credit card, am 30 years old, and am pretty responsible with my money, but I feel like I should have one in case of an emergency. Especially being a single mom of two kids. 
I found this one, but I don’t understand what purchase APR or Transfer Info means. Can someone please explain it to me? 
Also, if I apply and am approved for the credit card, when do I get to use it, and will it bump my credit score down or raise it for opening an account? 
Does the annual fee mean I could get it, not use it, and not have to pay anything monthly or yearly?

Answer

If you've never had a credit card you need to go to your bank or local credit union and open a secured card with a low limit to start with. A secured card is your own money that's used for the limit, they are usually $300-$500 and you can't get yourself in any kind of trouble this way and it doesn't run a credit check to open one. After so long of keeping your usage to the minimum and paying it off in full you can apply for a credit limit increase.

Answer

APR - Annual percentage rate or your interest rate 
Intro purchase and transfer APRs are for qualifying transfers (of another credit card) and purchases (of a certain amount) to be 0% interest for a specific time. They will backdated the interest if not paid off in that allotted time. 
I have this same card, have for years. No annual fees. 
From a credit building perspective, I recommend making a purchase every once in a while and paying it off before due date. Letting it sit without activity for a long period of time, it could close out and would be negative on you. Could, not guaranteed. Do it on a purchase you HAVE to buy, then just pay it off 2 days later.  Like gas for your car or something.

Answer

Annual fee- you don’t have to pay to have it. Others, like AMEX, charge an annual fee of like $500.
APR- interest you’ll pay on your purchases every month. I normally Pay in full to avoid paying interest
Transfers- usually if you have multiple credit cards and want to consolidate the balances into one. Sometimes they’ll charge you a % to transfer.

Answer

Schedule an appointment with an advisor at your bank & see what card they recommend for you. They’ll be able to explain everything for you

Can someone explain credit cards to me?

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