Finally, Be Wary Of" Limited Time Only" Credit Card Offers

Category: Finance, Credit.

There are so many credit card choices being dangled in front of people these days that it s almost impossible for the average person to weigh up which one would suit them best. Here are a few simple tips to help you get the right card for your needs.

Most credit card offers have at least one feature that the credit providers use as the bait to entice your business, but that one feature seldom reflects the" real" cost of using that card. If you have an existing balance to transfer, then you need to be looking for a card with a low interest rate on balance transfers- and not just a honeymoon rate, otherwise you ll have to swap again in 6 months time when the true interest rate kicks in. Many cards offer an interest free period of between 21 and 55 days. If you maintain a relatively low balance but make a lot of purchases each month, then you ll need a card which either charges low interest rates on monthly purchases, or has a lengthy interest free period. The next thing to consider is your preferred style of repayment. But be aware that your bank may charge you interest on the entire months account if you leave even a tiny amount unpaid. If you always clear the entire balance every month then you should shoot for the card with the longest interest free period, as the interest rate is irrelevant, so long as you never forget to pay the entire balance off every month.

This type of card is great for people who have the money to pay the entire bill off, and only use their credit card for convenience or emergencies. They charge the merchants a fee for using their payment service as well. Most people don t realize it, but credit card companies still do very well even if you never pay any interest at all. In some cases they offer the card user a kick- back from these fees as an incentive to use their particular card. Other companies offer points based incentives similar to frequent flyer miles. Some companies do this via a cash back arrangement, which you can either cash in or have deducted from your balance. These can generally be credited towards a range of reward gifts.

There are also cards that give your rewards to various charity organisations. Beware though, of the false economy of making extra purchases just to get rewards! This can be a good way of giving to charity, whilst only spending what you would have spent anyway. Finally, be wary of" limited time only" credit card offers. The donations can quickly add up when enough people get involved. Reputable financial organisations don t try to bluff people into hastily signing up with them by using such tactics.

Don t be rushed by such credit card company sales tactics. Any card that genuinely sounds good today will still be around tomorrow. The only things you need to consider- and consider well- are your spending habits and your repayment style, then choose the card that has the features that match your needs, and not theirs!

Read more...

At Gas Stations You Save Even More - Finance and Credit Blog:

With the Chase PerfectCard MasterCard you can earn rewards everywhere! At gas stations you save even more.

Credit Card Companies Are Real Businesses And They Are Here To Make Profits From Us - Finance and Credit:

Credit card companies are real businesses and they are here to make profits from us. Thriving on a persons inability to repay his monthly balances on time, credit card companies fill up their coffers.

If You Use Your Credit Card A Lot, This Can Add Up Pretty Nicely - Finance and Credit Articles:

It feels great when you get money back from using your credit cards. Is that really a good thing?