Credit Card Deals
Credit card deals make it next to impossible to avoid credit card purchases. Who can resist getting rewarded for making purchases? It’s perfect for shopaholics and sensible shoppers alike. What are some of the deals available and how can you make a wise choice?
First, let’s talk about being responsible consumers. We all know there are a countless number of credit card offers around and each card usually has a combination of rewards, incentives, and bonuses that go with it. These perks can make spending money more fun than it already is. Credit card companies want you to spend as much as possible so they can get you stuck in the ‘minimum payment interest trap’. Of course, you never want to be there, so this is just a reminder that when you look for deals and rewards, don’t get carried away.
For some people, it can be a little overwhelming and daunting to choose between all the various cards, especially because of the marketing hype that gets thrown at you from all directions. Keep in mind that the best credit card deals should have low interest rates, no annual fees, and some type of rebate.
Cash back credit cards are a perfect example of great credit card deals. The name itself explains the concept. You get cash back from every purchase you make. It’s like getting an automatic discount. The cash you get back can come in the form of rebate checks or can be deducted from your credit statements. In choosing between two cash back cards, factors such as cash back rates, annual fee, interest rates, and the where and how to spend your cash back are factors to consider.
Other deals you will encounter include: zero interest on balance transfers, point rewards (such as frequent flier miles or other company specific incentives), low interest for a specified period, and many other marketing programs.
Before you get carried away by enticing credit card deals, take a step back and read the small print. Be extra wary when it comes to fees and adjustable rates. Make sure that there are no hidden fees that will negate any incentives that you receive. Also, pay attention to adjustable rates. It is possible that there is a tiny statement in the credit card terms and conditions providing that the initial low interest rate offered – your main reason for choosing it – may be adjusted after 3 months which could make it less desirable than your other choices. So, pay attention to the terms and make sure that you have everything covered.
