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Compare Credit Card Offers With The Greatest Rewards
January 06, 2012 @ 4:31:22 PM EST
What is the best credit card on the market today? If you're looking for a credit card with zero or a very lowest interest rate, your best bet is to visit a website that compares credit card offers in one easy list. It is very easy to compare and consider the different options available to you.
Credit card offers change over time so it is best to search when you are ready to apply for a credit card. Comparison sites will show the introductory purchase APR, as well as the terms for the balance transaction APR, the annual percentage rate, and if there is an annual fee.
When cards show a range of annual percentage rate, or apr, it means that your credit score, current income and debt to income ratio will factor into the annual percentage rate credit card companies offer to you. Certainly choose the lowest annual percentage rate if you plan on carrying a balance over time. If you can pay off your balance each month, than the interest rate is not as important as the annual fee.
Make note of the introductory rate time period. If the offer is 0% for six months, but another card offers 1% for 12 or 18 months, you may decide to accept the 1% because of the extended time period.
Are you planning to transfer a balance from another credit card? If so, then read carefully the terms on balance transfers, and note the length of time the APR will cover. It doesn't hurt to call your current credit card company and ask if they can lower your interest rate because you're considering a new card. Watch out for transfer fees which subtract from you saving money.
You can search for a reward credit card based on a number of categories like cash back, points, gas credit, airline credit, hotel and travel, dining, automobile, retain name, home improvement and charity. With all of the categories available, you should choose one that is most likely to be beneficial. For instance, I have an airline rewards card. As I make purchases throughout the year, I earn points to use toward travel on that airline.
One final tip when you do choose a new credit card is to keep those records in a folder or large envelope. In bold print, write the date you applied, the introductory offer, the interest rate and notes about any balance transferred over. Next year, when you are looking over your finances again, that information will be useful in determining your finance plans for the new year.
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