You can find good deals on credit cards by first defining what a good deal means to you. Since everybody has different spending habits, priorities, and financial obligations, a good deal to one person may not be that great for another. Once you’ve defined what a good deal means to you, it’s time to do your research to find a card that fits your definition.
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Online resources are a quick and easy way to research credit cards, especially if they provide easy avenues to apply for the credit card once you’ve chosen one that fits your needs. You can supplement resources such as our search tool with further research on financial and money-related websites and blogs that may provide feedback and reviews on the particular credit cards you’ve chosen.
What features can make it a good deal?
In a perfect world, your perfect credit card may come with low interest rates, rewards that include discounts on items you use all the time, and no fees. Alas, the world is not perfect, especially when it comes to credit card fees, but you may be able to find other features that make a particular card a good deal for you.
Your first order may be to review your spending habits to find a credit card that matches them. Credit cards with low interest are generally alluring, but they may not be your top priority if you tend to pay off your balance due every month.
If you usually do not carry over a balance then you are less likely to fall prey to high interest rates piling up and spiraling your debt into the ozone.
Fees are typically a part of every credit card agreement, but ensuring they are not ridiculous can further add to a credit card being a good deal. Late payment fees, balance transfer fees, cash advance fees and other fees may be the norm, although you may be able to find a credit card that charges the least amount of fees for a service you constantly use.
Certain balance transfer credit cards, for instance, may come with no balance transfer fees to encourage you to apply. This in itself can be a good deal if you are seeking a credit card to easily consolidate your debt.
What other features could mean a good deal?
Reward credit cards may be a good deal for you if they offer rewards you can use. They may offer discounts, cash back, and other perks for spending a set amount of money. Opt for a reward credit card that works with your purchases and your good deal can mean consistent savings on items you regularly buy.
The Federal Reserve points out several other credit card features that may translate to a good deal for you. These include premium cards that often come with high credit limits and other perks. If you use the perks and need the high limit, paying extra for premium might just work. Retail credit cards may offer discounts just for using the credit card for purchases from that particular retailer. Sometimes the retail credit cards can be used at other locations, as well.
What features can make it look like a good deal?
Instant freebies are one perk that can make a credit card seem like a good deal when it’s really not, warns the FDIC. This ploy may work especially well on students who are offered free pizza, Frisbees and T-shirts just to apply for a particular card. Never apply for anything until you’ve read the fine print.
Credit cards with zero interest rates or very low interest rates can be another enticement that immediately draws you in to a credit card agreement. Once again, it’s wise to read the fine print.
Although a credit card may offer low or no interest at the onset of an agreement, those rates may be part of an introductory deal that expires after a set amount of time.
After that set amount of time goes by, your interest rates may suddenly to soar to heights higher than credit cards that came with a reasonable interest rate to begin with. Other perks can fall into the introductory period, so be sure and check what conditions and features may be part of a limited offer and which will remain for the life of your credit card.
The only way to know if a good deal remains a good deal is to pay strict attention to any credit card agreement before you sign on the dotted line. Due to the vast amount of credit cards available and easy, online research tools you can use to find them, good deals on credit cards may not be far in your future.
Use our FREE credit card chaser today to find good deals on credit cards that can work for you!