What is Daily Periodic Rate? Im looking at American Express Clear card!?

I have narrowed my search down to 2 credit cards maybe 3( Im not sure if discover is a good card to get so Im just ruling it out all together but the discover more was my # 3 choice). The card I really want is the AMerican express Clear. Everything sounds great escpecially 0% APR up to 12 months. I have a lot of questions about it though!

1. What is the range of credit limit? now mine through a different company is $1400 and I need one with a $2000 limit. Do you think AMEX clear can offer this?

2. Im getting this card ot build credit! Im charging about $2000 from tuition to the card in December and I plan on having enough money to pay it off by the 6th month when interest is supposed to start. here are my questions about that:

- the card info says %26quot;Method of computing the balance for Purchases= Average daily balance (including new purchases).%26quot; what does this mean? AM I going to get charged interest on a daily basis?

-%26quot;We use the ADB method to calculate Finance Charges%26quot;

What is Daily Periodic Rate? Im looking at American Express Clear card!?rate my teacher

If you pay off your balance before your 0% APR runs out, you won%26#039;t be charged any interest. Read all small print about this. You%26#039;ll probably have to make some kind of minimum monthly payment every month. If you miss a payment or make it late, you%26#039;ll lose your 0%. If you were to lose that 0% offer, look to see if they start charging interest on your remaining balance or if they retroactive back to your beginning balance.

Credit cards have a grace period on charges before you have to pay interest. If you pay off your balance every month, you won%26#039;t owe any finance charges.

A daily periodic rate means how they calculate interest charges on your purchases. If you pay off your balance every month, it doesn%26#039;t matter. If you carry a balance, it works like this: interest charges are computed from the date you purchased something - not on your balance at the end of a billing cycle. So anything you charged early on in a billing cycle is going to accrue more interest charges than something you charged in the last day of the cycle.

Again, this isn%26#039;t something to worry about if you pay off your balance every month. If you carry a balance, a monthly periodic rate will be a slightly better deal.

Answer to question 1 - There%26#039;s no way of knowing what your credit limit will be until you apply for the card. AMEX offers huge credit limits depending on your credit score and history. A $2,000 limit is certainly within their range.

I curious about something in your question. You say you have a 12 month 0% APR offer. Then say you%26#039;ll pay off the $2,000 tuition by the %26quot;6th month when interest is supposed to start. %26quot;

So is it 12 months or 6 months? Be sure you know if it%26#039;s for purchases or cash advances. If it%26#039;s only for purchases, can you charge your tuition on an American Express card?

What is Daily Periodic Rate? Im looking at American Express Clear card!?

loan

Clear from American Express

* No fees of any kind. No annual fee, no late fees, no over-limit fees, no balance transfer fees, no cash advance fees.

* Automatic Rewards. You%26#039;ll get an American Express branded shopping card worth $25 delivered straight to your door every time you spend $2,500.

* Flexible Payment Terms. You can pay in full, or carry a balance. The choice is yours.

* Flexibility to pay over time

* No annual fee and 0% intro APR for up to 12 months.

* World class Cardmember benefits including Purchase Protection Plan, Buyers Assurance Plan, and Return Protection.

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