Credit Card Offers

When you are invited to apply for a credit card, know all of the details about the card and make sure you are getting the best deal. Just because you think a company is well known or has an attractive ad campaign doesn't mean they have the best offer on the table. Here are a couple of things to compare when looking at credit card offer.

Interest Rates

First and foremost look at the interest rate offered and know if it's an introductory rate. Many companies will advertise an extremely low interest rate for six months to a year and then drop a higher rate on you when that time frame is over. If you are carrying a significant balance at the time of increase, a high interest rate can result in a large finance charge.

Fees

When you receive a credit offer, in the mail or online, look at the disclosures and fee lists. You would be amazed at how many people skip this step and have a nice surprise when their first statement comes along. Some cards charge as much as $200.00 in fees alone just to open the card not including an annual fee. 

Extras

The incentives and extras offered vary by each card, so know what you can get before picking a card. Some cards offer airline miles or rewards when you spend certain amounts and depending on your needs these extras could wind up saving you money you would have spent elsewhere.

Read all of the fine print, take your time and make an informed decision before you pick your next credit card.

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