Online credit cards ? look before you click

Obtaining a credit card online may be as easy as a click of the mouse, but experts advise there may be a lot more at stake when you hit the "send" button.

Using the Internet to shop for a credit card can be fast, easy and convenient. The Better Business Bureau, however, advises in a news release that when searching for the best package and best rate, consumers should be aware that not all online credit card offers are as straightforward as they appear. It is im-portant to know, before hitting the "send" button,

What the interest rate is based on;

How long the rate applies;

The difference in rates between purchases and cash advances; and

The penalties for late payments.

Before clicking the "send" button, the consumer should be aware that each time he applies for a credit card, online or offline, the credit card company will send an inquiry to one of the credit reporting agencies Equifax, Experion or TransUnion.

Each time a lender requests information from one of the agencies a notation is placed in the consumer's credit file that shows an inquiry was made into his or her creditworthiness. An inquiry can remain on a credit report for as long as two years. If a consumer has applied for several different cards over a short period of time, that may affect the way lenders view his creditworthiness, ac-cording to the release.

The BBB advises that when applying for a credit card online, consumers should read the fine print carefully. They should also be sure to browse the site thoroughly for any information about the terms and conditions, well in advance of choosing to click the "send" button.

Personal credit calculators and other measures are available to help consumers gain an accurate picture of their creditworthiness is and to what terms, conditions and rates they are entitled.

The BBB also advises not succumbing to the allure of flashing and pop-up ads. Although the ads may claim to offer a great deal, the actual terms should be researched before the consumer applies.

If a consumer cannot find clear, accurate information, or if the terms and conditions of the application are not what was promised, the consumer can contact a local Better Business Bureau, the Federal Trade Commission at 1.877. FTC.HELP, the Federal Deposit Insur-ance Corporation at www.fdic.gov or the Federal Reserve Board at www.federalreserve.gov.