Many have come to the conclusion that if a deal appears too good to be true, it probably is and the same thing holds true with many credit card deals. Even what appears to be the best credit card deals available may have some hard to read fine print that can quickly turn a business relationship sour. By carefully scrutinizing the lender agreement, you can quickly determine if the best credit card deals are right for you.
Keep in mind that many of the fantastic offers you might get in the mail usually highlight the best of all things credit the company has to offer. Look for the disclaimer that states if you are not approved for the best-of-the-best credit card with the rates in large letters on the offer, you will be issued a card for which you do qualify that may have a higher interest rate and no grace period on purchases.
In order to know you are receiving the best credit card deals you can, it is probably best to go through the largest issuers of credit cards in the market. The seven largest are:
• American Express
• Bank of America
• Capital One
• Chase
• Citibank
• Discover
By going through the company’s main website you determine which of the offers really are the best credit card deals available from each one and then apply to the one or two that interests you the most. Realizing of course, that rewards in the form of cash back or airline miles may make an offer seem better than it really is if blackout dates on travel will affect your use of the card. Also determine if the cash back is applied directly to your balance or issued in the form of a check once you achieve a certain amount.
You should also review the minimum payment required on purchases as most credit cards only require a one or two percent of the balance as a minimum payment. This can affect the length of time it will take to pay off the balance as well as the amount of interest you pay over the life of the balance. Seriously, that lunch at a fast-food restaurant could take months to pay off if you stick to making only the minimum payments.
The credit card user will have the final word on whether the best credit card deals will work for them depending on their spending habits and the payment options. Failing to make payments on time and constantly going over the credit limit can quickly turn even the best credit card deals into a financial nightmare from which waking up can take a considerable period. Before accepting any credit card deal, make sure you have the means and responsibility to hold up your end of the bargain.