The Secret to a Good Credit Card Deal is to Compare

A Credit Article Contributed by Joyce James

A Good Credit Card Deal is All in the Comparison

How can you be sure you've found a good credit card deal and that you should go ahead and apply right away? Well, you can't. That is, you can't be sure that you've found a good credit card deal unless you compare your deal to other deals. It makes perfect sense. Any deal can sound good if you see it advertised on its own. But only if you compare it to the other deals and offers around can you be sure.

Comparing Credit Card Deals Sounds Like a Good Idea, but How Easy is It?

There are hundreds of credit card deals out there. Try typing in the words credit card deal in an internet search engine and you'll bring up so many offers you'll very quickly feel too overwhelmed to make any decision about them. But there is help out there. Try another internet search. This time type in three different words: Credit card comparison. You'll find various sites that offer you information about lots of different credit card deals.

Some websites have comparison calculators and other tools that ask you for details about what sort of card you are after and what your needs are and provide you with details and a list of cards that could best suit your needs. These online calculators are a great way to sift through all the information and all the credit card deals that are available online.

Websites like Bankrate.com compare lots of deals all on the same page. In your online research you should keep a piece of paper and a pen next to your keyboard and take notes under the following headings: Annual Percentage Rate (APR) on purchases; APR on cash advances; Fee for cash advances; Annual fees; Late fees; Over limit fees; Number of Grace Days. Some sites will list a whole lot of credit cards under these headings for you. All you have to do is print the page and study it.

Are You Sure This is the Credit Card Deal for You?

Even if a credit card deal sounds like the perfect one, make sure you read up on all the details of how the card will work before you apply for it. You may be tempted by the low interest rate, but have you studied and compared all of the credit card's terms and costs?

As a general rule you should compare interest rates, annual fees and grace periods. The grace period is the time you have to pay back the amount charged before the bank charges interest. Most cards offer 25 days, some 30 days and others none at all. The grace period is especially important to note if you intend to be paying back the entire amount each month.

Some deals sound great because they don't charge an annual fee in the first year as a special introductory offer, but find out if and when they will start charging it and how much it will be. Others sound good because they have a really low interest rate, but be careful if they charge an annual fee. Compare all fees and charges to calculate the best deal.