Whether you apply for a card, ask a phone rep to send you information, hook up with a card company's online applications or receive an uninvited application through the mail, don't sign up until you have asked some key questions.

Check out our other credit card basics story and these questions will be seen in context.

Find out:

• Is there an introductory rate, what is it and how long does it last?
• After that, what will my rate be?
• Is there an application fee?
• Are there processing fees?
• Is there an annual fee?
• Is there a late fee?
• Is there an over-the-limit fee?
• Are there any other fees, like account termination fees or balance transfer fees?
• When and how can a variable rate be changed?
• When and how can a fixed rate be changed?
• What is the grace period before interest is applied?
• How will you inform me of any changes in my contract?
• Will the company inform me if I am about to go over my limit?
• If I go over my limit, what happens?
• What is the company policy if I have trouble paying my bill?