Top 5 Credit Card Offers
Comparing a current credit card with new credit offers is a great way to make sure you have the best deal for any situation.
These highly competitive deals change all the time, so it makes sense to regularly review what options are available and could add more benefits to using credit.
Unfortunately a lot of credit card offers advertised are of the introductory variety, which means the low rates or large amount of points you get upon signup could quickly be replaced with more expensive ongoing features.
The good news is that most credit card offers are variations of one another, so while the specific deals may change, the five offers below give you a good idea of what to look for and how to get the most out of getting a new card.
12-Month Balance Transfers
People with large credit card debts benefit from balance transfers through the lower rates of interest applied to the carried balance.
A card with an introductory period of more than a year, like the Bank of Melbourne Vertigo’s 12-months at 0.99%, gives people time to pay off as much as possible without a lot of interest building up.
0% Interest Rates
The high level of credit card debt has led credit card providers to 0% balance transfer and purchase rate introductory offers that are incredibly popular with cardholders.
Unfortunately a quick fix is usually not an option, so if you want to get the most out of a deal like this, make sure it will be in your best interest for the long term.
Double-Point Periods
Reward card offers often come in the form introductory periods where people can earn twice the usual amount of points per dollar spent on the card.
This period gives people a chance to earn more rewards at their own rate, but make sure the ongoing point deal is worth it before you sign up.
Signup Bonus Points
The most common offer for point-based reward cards is a bonus for people when they sign up and use the card.
A current example is the American Express Platinum Edge, awarding cardholders 25,000 once $500 is spent on the card in the first two months. These bonuses give the reward balance a huge boost but before you get too excited about it make sure there is no points expiry.
Waived Annual Fee
There are a handful of credit cards than never charge an annual fee but in most cases the cost of plastic will be $100 or more.
Some credit cards will waive the annual fee for the first year and taking advantage of this offer gives you the chance to get used to a card and decide if you want to continue using it without paying a lot right away.
Credit card offers are very appealing for people considering a new card but it is important to consider a range of factors, and compare any current cards, to get the best deal.
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