What Do The Best Credit Card Offers Have In Common?
How To Distinguish The Best Credit Card Offers From The Inferior Ones
There’s such an amazing number of credit card offers available on the market right now that it actually confuses the average consumer and he/she might end up making a bad decision simply by not knowing what to look out for. We will not recommend any specific cards here – rather we will give you a few guidelines to pick the best credit card offers from the bunch.
The first thing you have to keep in mind in this regard is that each and every time you apply for a credit card, this get recorded somewhere. The credit bureaus track these applications and if you should submit numerous applications shortly after each other, most of which are rejected, you will soon get a bad credit rating. Apply for one card only, supply them with all the info they need, and wait for the card to be approved.
A very important factor to consider when applying for a card is what is called the APR, or Annual Percentage Rate. This, in layman’s terms, is the interest that you would be paying on the amount you owe on a yearly basis.
The very least you should be looking at is a six month interest free period. Beware that many card issuers advertise an APR of 0% ‘up to 12months’ – this actually means that they will first look at your credit worthiness and might actually only give you an interest free period of much shorter duration.
Something else to consider is whether the card issuer gives you cash back points. This simply means that you earn points when you purchase something and eventually you can cash them in for real products or services. Some give cash back points when you buy groceries. Others when you fly, or buy gas. Your lifestyle will determine which one suits you best.
Also make sure the card comes with no annual fee. Here once again beware of the ‘from 0 annual fee’ clause – they will first look at how credit worthy you are and you might actually end up paying a high yearly fee. The best credit card offers will clearly state that it comes with a $0 annual fee.
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