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Every year banks try to offer something new to their clients, not only new credit card products but also new marketing approaches. At Credit-Land.com we have analyzed the new trends of the credit card market and selected the best credit card offers. So, what’s new on the credit card market this year?
• Fees. There haven't been any significant changes in the cost of credit card maintenance yet. Credit cards for good or excellent credit history such as Citi Platinum Select MasterCard are fee free and financial charges for plastics for bad credit are around $50. However, the situation is likely to change because banks need additional resources and might raise the fees.
• Rates. Most credit cards have variable interest rates. Due to the Fed interest rate cut these rates continue to drop. Of course, your APR depends on your credit history but considering the lowest possible rate credit card holders are going to make some extra saving this year. New credit card deals also include 0% APR on purchases and balance transfer during the introductory period.
• Rewards. Credit issuers are taking a more differentiated approach towards rewards. The rewards programs are more specific so the consumer could analyze his or her spending habits and apply for a more rewarding card. For example, Capital One offers 7 new cards with rewards for home improvement, retail stores, health club and dining, etc. Most reward cards are for good and excellent credit only.
• Bad/No credit. Banks are no longer marketing credit card deals for no credit as offers also for those with bad credit. A new card from Citi Bank Citi Platinum Select Tier 2 Card has been created especially for consumers new to the credit card market. This card has no annual fee and reasonable APR.
• Business credit cards. Banks are eager to offer more favorable rewards to businesses. Capital One presents Visa Business Platinum Card with 0% APR till February, 2009, no annual fee and up to $7,000 credit limit. Credit card industry is more benevolent to small business owners than ever.
Banks are offering more and more credit card products. Take your time to understand what kind of plastic you really need. Consider the trends of the credit card industry today and apply for a credit card that will work best for you. Banks are ready to offer you great deals. Why not take advantage of them? Find the best card at Credit-Land.com and apply online!
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