Those credit card offers you get in the mail are going to be the best credit card offers usually reserved for the best customers. Those with sterling credit reports often are the only ones qualified for these offers and the rest of the world may be approved for something less inviting. Face it, if a person can’t get approved for the best offers, the company is willing to take them on as a customer, but at a higher price.
This mining for customers is perfectly legal, even telling a person they are pre-approved to apply for this card at that rate is not legally wrong. The best credit card offers also should contain a disclaimer that indicates that those not approved for the low-interest offer can be selected to receive a card at a higher interest rate. Possibly even an annual fee will be assessed if you take advantage of a lower offer.
Some of the best credit card offers come from the major card companies such as American Express, Bank of America and Capital One, while other card companies hold back on making great offers, instead offering cards to those who do not qualify for the lowest interest offers. These companies can make a fortune dealing with those who classified as a high risk as they can basically charge what they want and customers who do not qualify elsewhere have little choice if they want a credit card.
Living Without A Credit Card Can Be Inconvenient
Paying for the convenience of having a credit card can be expensive, but the alternative can be challenging. Renting a car, booking a motel room or airline flight can be difficult without a major credit card. Purchasing online with a branded debit card is becoming more accepted, however some companies still require a credit card for deposits.
Additionally, those living on their branded debit cards may find times when a few extra bucks until payday might be needed. Medical emergencies and trips to the doctor or pharmacy do not usually come around when the coffers are full and taking advantage of one of the best credit card offers may be a good idea. Check to make sure you don’t get charged extra for not using it, but one it arrives a small purchase and quick payoff can have a two-prong benefit. First, it keeps the card active and second, it gets reported to the credit bureau that you are a good credit risk.
Some of the best credit card offers will offer more than a temporary low interest rate and a temporary low rate on balance transfers from other cards. The rates should be available for as long as you maintain a good credit standing. There will usually be a grace period on purchases as well as on cash advances from the best offers available.