10 Tips in Evaluating the Best Credit Card Offers

Tip 1: Know thyself

Study the most important factor – You! Be honest when you look at your spending tendencies. Know your credit card needs. List down your goals from getting a credit card. Are you the sort to overspend if given a chance? Do you need a card only in case of emergencies or is it to purchase something you cannot afford at one go and would like to pay off monthly? Do you hope to increase your credit rating with your card or is it required to make internet or phone payments? Understanding your needs and habits will allow you to choose a card that is best for you.

Tip 2: Low APR on both purchases and cash advances

Often credit cards are used to supplement customers financially when in need and the resulting credit card balances are paid off monthly over a period of time. Additional interest charges are applied to these balances. As such, it is crucial to know everything about the Annual Percentage Rate (APR). Ensure that the APR is low so that you do not end up paying much more on interest in addition to the principle sum owed. Sometimes, the low APR applies only to purchases made. The best credit card offer is preferably one in which the low APR applies to purchases as well as cash advances.

Tip 3: Fixed APR

Most often, low APR is only introductory. Please avoid them unless you are doing a balance transfer to pay off balances on another card and you are SURE that you will be able to pay it off within the introductory period. Usually high interest rates will kick in after the introductory period and payment will pose quite a nightmare after that. Also check on the company you are getting the card from. Some companies have a tendency to change (normally, increase) their interest rates often blaming it upon economy. So, for the best credit card offer, favour a company with a more stable operation and as much as possible, go for a fixed APR.

Tip 4: Calculation of balance that APR is applied to

The 3 common ways of calculating the balance to which APR is applied are:

  • Two-cycle balance – Avoid this method as you may wind up paying additional interest
  • Average daily balance – Most common type
  • Adjusted balance – Most beneficial to consumer

Tip 5: Overlimit

Unlike in the past, most credit cards allow you to continue paying for purchases even if you have reached your credit limit. It is best that you do not have this option so that you can prevent getting deep in debt. If you do have or want this option available, compare overlimit fees which are an addition to the interest charged on the outstanding balance on the credit card. The lower the overlimit fees, the better they are for you.

Tip 6: Transaction charges, late fees & annual fees

These additional fees can vary quite a bit from one credit card to another. So in order to land on the best credit card offer, remember to compare these. Some cards even offer zero annual fees.

Tip 7: Grace period

If you are one of those responsible consumers who will pay off the credit card balance completely each month, you should compare the grace period offered. The best credit card offer should ideally have a longer grace period. Some offer anywhere from 25 to 72 days.

Tip 8: Reward Programs

If you will be using your credit card to make a lot of purchases, you need to be concerned about rewards programs in addition to low interest rate and long grace period. Rewards program may even come with cash back offers which may be used to offset annual fees. Go through what the different credit card offers entail and select the one that suits your needs most.

Tip 9: Customer service

The best credit card offer must offer the best customer service too. Often overlooked, this factor will only affect people when in need. Suppose you are overseas and you run into a problem with your card, you must be able to get effective customer support that is quick and 24/7. Obtain referrals from current users of the cards you’ve narrowed down to before making your final choice.

Tip 10: The fine print

People hate reading the fine print. almost 75% admit to not doing it. It is a struggle especially with all the technical jargon. However, the fine print is important. If you really cannot bring yourself to read everything, at least read the portions that discuss the 9 other areas of concern mentioned above. Ensure that your final decision on the best credit card offer is well-informed.

Credit Card Offers that Must Be Grabbed Immediately

The game in acquiring credit card is not fixed at one rule. There are several things to think about and to consider to get the best ever deal for a credit card. The more flexible you are in choosing and maintaining your credit card the better deal you may get from a credit card issuer.

Lending companies also make offers to allure clients to apply credit cards from them. However, they propose an offer in such a way that their capital and profit are not compromised. They will also need to give rewards and other benefits to keep their clients banking needs or doing business with them. For many companies, the rewards and benefits that they give are just equivalent to the promotion cost that other business is spending to get the attention of customers.

There are banks and lending companies that offer one or more type of credit card. These cards vary on the benefits and offers. Deposits also differ according to the scope and the capacity of card and its credit limit.

There are offers that are constant throughout the activation of the card. These offers do not change in time but can be change if no longer applicable. Changing said offer will now be the prerogative of the company. There are offers that are already included or part of the card. For example, a card that is actually intended for online shopping may have greater usage if one shops often in the web. Credit card offers are just incentives given to the client but are very beneficial indeed.

These credit card offers does not make the company bankrupt, instead they may use this to profit more as they will have plenty of clients. The question now is what are the offers that are worthy to be grabbed by clients? Are all credit card offers feasible and realizable?

Well, not all offers may be true. There are offers that can be given only for a short period of time. Take for instance the annual fee. There may be companies that offer no annual fee for this year but only for this year. Surely the following year, that certain company will implement the annual fee and with little increase from the normal to regain back what was lost the previous year.

Here are some of the offers that may hold true in all credit cards.

– No APR – there are companies that will offer this kind of promo but with very strict condition. When a card secures such fees or rate, it is sometimes immaterial since the lending company has a guarantee that collateral maybe taken as payment for the capital lent. If you think that you can pay for the other interests and fees and you know that the company can never get the collateral, this offer is worth to be grabbed since it will lessen your dues.

– Low Interest rate – When a credit card is unsecured or student credit card the interest rate may be higher. Although there are benefits that you can get from unsecured or student credit card, what is important is the less payment that you will be paying out of interest.

– Broader Credit Limit – this holds true to secured credit cards. This may also be feasible to unsecured credit cards however; good credit standing is a big factor.

– Cash Advance – a credit card is very useful if you can use it to advance cash for emergency purposes from an ATM. Banks and lending companies have different rules on how cash advance be implemented. There are credit cards that can advance 100 percent of the credit limit and there are some that are only limited to 30 – 50 percent of same.

Why It Is Important To Compare Credit Card Offers

Credit card offers used to come in the mailbox in droves. The credit crunch dried up a lot of those offers but fortunately credit is on the mend and card offers are starting to arrive again. Most people when they go to the mailbox will take one of two actions after they have received an offer in the mail. Some people will take the card offer and immediately throw it away in the trash can. Others, will take the offer and right away fill out the card application. If you are the type of person who fills out the application right away, then you should continue reading this article.

Credit card debit is consuming Americans by the thousands. Everywhere there is a preacher on the corner spreading fear about their usage. Owning a credit card can put you at risk for becoming in debt, however, you can also control that risk. Offers when used properly can help the average American in times of need. After you have received the offer in the mail, it is important to become familiar with the rules and regulations that pertain to that particular offer. You should do this even before you send the application off in the mail or submit an online application. Go through the terms and conditions and make sure that you understand thoroughly how the offer works. The terms and conditions will explain to you the due dates for you bill or how you can access your account online. The terms and conditions will also explain late fees, over the limit fees as well as how to redeem your rewards points. Understanding thoroughly the terms and conditions will put you one step closer to being able to complete the application.

The main reason that you want to compare credit offers online is in order to save money. By comparing you will be able to see the interest rates amongst a variety of cards. Furthermore you will be able to examine other features and rewards categories in order to make the proper decision. In addition, you will be able to see what cards have annual fees and what cards do not. You will also be able to look at other things such as late fees or even over the limit fees. You might even want to look at offers that do not have any rewards benefits and is going to give you the lowest interest rate possible. If you do not do not compare before you apply you run the risk of signing up for an offer that does not really suit your needs. Those who do compare card offers thoroughly will be able to make the best educated decision.

It is also of utmost importance to know what you are going to be needing in before you actually apply. Perhaps you are looking to transfer a balance from another card. Then at this point you would want to compare balance transfer offers and perhaps get yourself a 0% introductory offer with 18 months of free interest. On the other hand you might be a frequent traveler who will make the most use out of an airlines rewards credit card offer. In this case, you will want to compare airlines offers and determine which one has the best features that fit you. For example if you do not live in an area that is serviced by Southwest Airlines than the Chase Southwest Airlines rewards card offer might not be your best bet. Perhaps you live in area that is serviced by Delta airlines then a card like the American Express Delta Airlines credit card will be you best bet. If you are going to be carrying a balance on a monthly basis than you might want to opt towards a card that does not have any rewards features at all. A no frills card such as the Simmons First card might be your best decision yet.

The reasons for the importance of comparing card offers are numerous. The main and best reason is that you will be able to save money. In addition, you will not get stuck with a card that does not suit your needs the best. Furthermore, you will be able to make the best educated decision possible by comparing credit card offers.