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Credit Card Offers: Avoid the Traps, Get the Facts

Credit card offers are becoming more attractive to the consumer. The reason is the credit card companies are all competing for your business. They are trying to attract as many new customers as possible, so they offer incentives to make their card more likely to be the one you choose. The consumer needs to be aware that some of these credit card deals are less attractive than they seem.

There are many offers on a daily basis in your mailbox or your email inbox. But, are all of these offers really as good of a deal as you are led to believe? Many of the offers they are advertising in big bold letters may be only temporary. For example, credit cards that offer 0% interest. This is often just for a certain period of time. Some are six months and some companies may offer this for a year.

When you are considering one of these cards, you will need to think about what the interest rate will be later. If it is going to go up to an exorbitant amount, you may want to consider one without the 0% interest and opt for one that has a good rate all the time.

The best thing you can do before looking at credit card offers is to make a list of the things that are important to you. Do you want a card that offers cash back or reward points or frequent flyer miles? Are these things you will use? The things you purchase with a credit card and what others purchase are entirely different.

While you may fly often in your line of work, your neighbor may fly only once per year. Therefore, the need for frequent flyer miles would not matter to them as much as it does to you. This is why you need to make the list.

Do you travel a lot by car? Then rewards at gasoline stations would be a good card for you. However, even when choosing the cards that offer incentives for the things you buy more often, you will want to ensure the interest rate and fees are reasonable as well. Do not choose a card based solely on incentives.

Remember when looking at credit card offers, the companies are going to make them as appealing as possible to try and convince you to apply for their card. It is up to you to find the card that is going to benefit you more in the long run rather than short term.

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