Choosing Credit Card Offer
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Cardholder Benefits » Choosing Credit Card Offer

Choosing Credit Card Offer

By
Add to Favorites:

When choosing between numerous credit card applications, we want to get the most of our new card. Even though there’s no card that is right for everyone, many credit offers present some tempting features designed to entice you to submit your application online. Whether it’s a large amount of complimentary bonus rewards points or zero interest rates for a certain period of time, you may be enticed to apply for the product that doesn’t fit your individual needs. The question is, how to choose the card that is right for you? Read more about the terms and conditions you should look at when selecting the best credit card.

According to the law, all credit card applications must include the so-called Schumer box, the box that describes the most important terms and conditions of the card. Let's take a closer look at the basic terms and conditions you should take into consideration when selecting the best deal for you.

APR. The annual percentage rate or APR is one of the key terms you should pay close attention to. Basically, credit cards have different APRs for purchases, balance transfers and cash advances. If you want to transfer your high-interest balance on a new card, look for low introductory or ongoing interest rates on balance transfers. Introductory interest rates are also great, but when reviewing the card with a 0% APR, take the time to review its ongoing and default interest rates.

Default interest rates may be as high as 30%, so it's critically important to understand when these rates apply. For this, read the terms and conditions carefully to find all the necessary information about the card and its rates.

Fees. Credit card fees may vary from company to company. If your FICO is less than perfect, you should be extremely careful about the fees that may apply with this or that product. Pay close attention to setup fees, annual fees and late payment fees!

If you have good credit, you may wish to consider balance transfer fees or foreign exchange fees. Credit card transaction fees are typically determined as the percentage of the balance, purchase or cash withdrawal, but some companies may set caps on these fees.

Grace period. A grace period is the number of days you can pay your bill in full without triggering interest charges. Usually, you can take advantage of the grace period if you have paid your previous balance in full. By paying your balance in full within the grace period, you can avoid paying interest. If you plan not to carry a balance over time, you should take a closer look at the grace period offered by your issuer. One of the recent credit trends in the industry is to shrink grace periods, so be sure to choose the card that gives you a generous grace period.

Rewards Features. Today, many credit card applications come with some form of rewards. The most popular rewards programs are cash back, frequent travel and rewards points programs. When choosing the rewards card, you should consider the following factors. Even though the strong majority of rewards cards are designed for people with high scores, they may charge annual fees or higher interest rates. Some rewards programs may come with limitations and restrictions, like the maximum number of points or miles that can be earned per month or year. And, finally, be sure to choose the rewards card that gives high rebates on the purchases you always make. This way, you're sure to make the most of your card!

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading

Credit Cards to Save More on Holiday Shopping

By Herbert Moore, Posted: November 22, 2016

Discounts and special offers are available all year round. Werther you are a bargain hunter or an impulse buyer, make sure you check online discounts and special offers. Also, if you are a cardholder, see if your credit card opens the door ... Continue reading

How to Get Free Wi-Fi in the Air

By Herbert Moore, Posted: September 28, 2016

Sometimes in-flight Wi-Fi is the bare necessity when you travel abroad or within the country. However not all airlines offer free in-flight Wi-Fi. There is only a couple of airlines that will allow you to use Wi-Fi ... Continue reading