Three No-Brainer Tips on Securing a Good Credit Card Deal
A Credit Article Contributed by Joyce James
No-Brainer Tip Number One: How to Tell a Good Credit Card Deal from a Bad One
Get on the internet, open your web browser to your search engine of choice and do a search for credit card deals. You'll be amazed at what you'll find in terms of credit card deals available. Sure, you'll experience a bit of an information overload, but you will get a good idea of what you are in for when searching for a good credit card deal.
But how to process all this information and find the best deal for you? That's a no-brainer! The internet will do it for you. All you have to do is log onto one of the many sites that have comparison calculators and in no time at all you'll have all the information right in front of you ready to print out and read over carefully.
No-Brainer Tip Number Two: What to Look for in a Credit Card Deal
The comparison calculators will list a number of credit cards and compare them based on the following characteristics: Annual Percentage Rate (APR) on purchases; APR on cash advances; Fees for cash advances; Annual fees; Late fees; Over limit fees; Number of Grace Days.
If you are after your standard basic credit card then you should probably avoid cards that charge an annual fee. Annual fees usually apply to cards that are big on reward schemes and flier miles and the like. Some cards give you a really low interest rate in exchange for charging you an annual fee. But don't go for it.
The lower the APR, the lower your repayments, that's logical enough, but but do read all the fine print. How long does the low rate last, and if it doesn't last, why does it increase and how much interest will you end up paying in the long run?
Is there are grace period? The grace period is how long you have to pay off a purchase without the bank charging interest. It pays you to go for a card with the longest grace period. You'll save money if you do.
Be sure to get to know all of the card's fees and penalties.
No-Brainer Tip Number Three: Securing Your Credit Card Deal and Keeping It
So you've found a good credit card deal with an attractive low interest rate introductory offer? Be very sure you understand the bank's penalty policies when it comes being late on a repayment during the introductory period. Does the low interest rate still apply? Or do you lose it if you are a less than perfect when it comes to your monthly repayments?
In all this deal talk, knowing yourself is just as important as knowing all the facts and figures behind your credit card deal. No one intends to miss their monthly repayments, but only you know your credit card repayment behavioral history. Knowing yourself means that you'll be certain to find the best deal around. And once you do you'll be able to keep it.
