Monday, November 27, 2006
Find the Very Best Credit Card Offer
Check your mailbox on any given day and you are likely to find one, two, three or more offers to get a credit card. Most offers on the surface look pretty good, but you’ll have to do some digging before you find one that is a real hit. Are you considering opening up a new credit card account? If so, let’s take a look at what makes a worthwhile offer for card seekers everywhere.
No Annual Fee – It simply amazes me that anyone would still pay an annual fee to use a credit card. Oh, sure, that pretty jet black or platinum card certainly looks exclusive but is it worth your while to pay $30 or more per year for the privilege of using a particular card? I doubt it!
No Rewards – You must be kidding me…no rewards offered? With credit card competition at a fevered pitch, it only makes sense that you be rewarded for the troubles of using a card. Most cards will assign you one point for every dollar spent and those points can be redeemed later on for gift cards, movie tickets, hotel stays, airline miles, you name it. Better are those cards that give extra points for select purchases such as visits to the drug store, for groceries, or for trips to the gas station.
Low APR: Does it Matter – Granted, if you pay off your credit card every month then the APR you are being charged simply will not matter. 0% or 30%, you still avoid fees that can sock the average person.
Balance Transfer Option – What decent card doesn’t give a balance transfer option to card holders? Better yet, will that card allow you to transfer funds without paying a transfer fee? No card is worth getting if you are assessed a transfer fee even if the APR is fixed for a certain amount of time.
Other Amenities – Travel insurance and roadside assistance are valuable options if offered for free. On the other hand, credit monitoring services and credit card insurance are not worth your trouble and you probably will find that fees will be assessed to you account if you were to sign up. Simply stay away from cards promising nifty amenities that cost you plenty in the end.
So, check out the fine print and apply for those cards meeting your litmus test. If they fail to give you something better than the average card then simply shred the offer and move on to the next one.
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