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When it comes to obtaining a new credit card, you may not have as many choices as people who already have good credit

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

. But you should still do some comparison shopping to make sure you are getting the best deal available to you. Credi

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

card terms and interest rates vary - and some of those variations can make a huge difference to your wallet. Always

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

shop for the card with the best interest rate and terms.

Here’s what you should look for in a credit card:

1. Avoid

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

high interest rates. Credit card companies disclose the interest rate in several ways, but you want to look at the An

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

ual Percentage Rate (APR). This is the amount of interest, transaction fees, and other charges that you will pay per

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

year, expressed as a percentage. It is the best indicator of the actual interest you will pay.

2. Avoid low introduc

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

ory rates. Some cards have a low “introductory rate” (also called a “teaser rate”). After a few months, the interest

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

ate will skyrocket. Also, sometimes the advertised rate only applies to certain people, such as those earning a high

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

income. The card company charges a much higher rate to those who don’t qualify - which could mean an unpleasant surpr

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

se when your first bill arrives.

3. Understand interest calculations. Many banks today charge interest based on the

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

verage daily balance. This is how it works: Say you charge $1,500 on your credit card and pay $1,200 on the due date.

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

When your next bill arrives, a bank using the average daily balance will charge interest on the $1,500 average daily

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

balance from the previous month, not on the $300 you still owe.

4. Review the grace period. This is the interest-fre

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

period of time between the purchase date and the bill due date. It is usually available only to those who do not car

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

ry a balance. If you pay your bill in full each month, make sure you have a grace period. Otherwise, you’ll pay inter

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

st from the date of your purchase. If you carry a balance, a grace period is not important.

5. Avoid high annual fee

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

. Some credit card companies charge you a flat fee (in addition to interest and other charges) for using their card.

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

Some do not. If you pay off your balance each month, you want a card without an annual fee. If you carry a balance, a

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

card with an annual fee but a low interest rate may be better than a card with no annual fee but a high interest rate

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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