Credit cards are reasonably easy to get these days. In fact, you really do not have to do much in order to read about what offers are available – they automatically come to your door, or in your emails. These offers, however, may not be something you need or want. Here are some tips as to how to evaluate a credit card offer and end up with the credit card you want.
The first thing you will want to do is to see if it is the kind that you can really use. Remember that just because it is a credit card, that it may not be one that will actually benefit you very much. The one that will benefit you the most is one that offers you the highest level of rebates on things you normally charge the most of each month. So, if you travel a lot each month on planes, you want one that will give you a lot of air miles points, and other points for your hotel and restaurant expenses, too. After you decide, then go on and look over the other things.
The next thing is to look at the introductory offer and note what it promises. There are generally two aspects of the offer. The first one pertains to the purchases you make on a regular basis. Most cards will now give you a 0% APR interest on your purchases. The time frame, though, will vary from one card to another. This period can be anywhere from three months up to fifteen months.
The introductory offer will also offer the option for balance transfers. Check to see when you can do this. Some credit cards only allow you to make transfers when you apply, others may only give you a couple of months. Then, be sure to look at how long you will get the 0% APR interest on the transfer, and find out if there is a fee or not.
The interest rate on the credit card is another thing you definitely want to notice. A lower rate is better. About the lowest you can go is 9.99% on your average card. If you have a business and get a business credit card, you can actually get one that has no interest, but it will have a yearly fee. This could a significant savings in the long run, because usually the fee is voided for the first year, and if you carry a balance, the interest charged could easily become higher than an annual fee which is often around $125.
Pay attention to the rewards or rebates that you get with the card, too. These can really sweeten the deal. Go for one with the most possible. Some credit cards will only give you points on certain purchases, and other ones will give you points on just about everything, but with a different point system. For instance, when you charge food, gas, or medicine on some credit cards, they will typically give you from one to three percent back. That is what you want. Be sure to compare before you settle on a particular credit card.