Credit cards have become an inevitable part of our lives. If you have taken financial resolutions to stay away from credit card debt and extra bank fee your next step might be finding the best credit card companies to grab some best credit card deals.
Finding the best credit card is one of the very vital things. Because if you manage to get Best credit card offers like 0 interest credit cards you can save whole bunch of money just with your interest rate itself.
Given below are some of the important things to consider before getting any kind of credit cards.
Almost all credit card companies do have some clause in their terms and conditions which makes to change their rules and regulations freely at anytime. So when sign up with the credit card application, it is good to read their terms and conditions booklet instead of just throwing them into the garbage.
Check out the credit card balance transfer fees and transaction fees
If the new credit card offers the better interest rate when comparing to your present credit card this is good news. But before doing a balance transfer to some other card check out whether that card have high balance transfer transaction fees. Normally credit card companies used to charge nearly 3% as balance transfer fee. If the transaction fees swallow up the savings then why should you sign up with the new card?
If the credit card you are going to sign up requires any annual fee then go away from it. Normally a credit cards for students and all other types of cards offers 0 annual fees at their introductory period. Sometimes this introductory period is given up to some 18 months. Only possible circumstance when the annual fee is recommended is when the card offers low interest rate while doing the balance transfer from high interest rate credit card to low interest rate credit card.
Cash back credit cards incentive limit
Generally how much you can get back through your cash back offer will be stated at the large fonts. But up to how much you can get the cash back will be printed only with the size of 2 fonts. Before sign up with such cards, make sure you aware of the cash back limit.
Introductory Interest rate
You may have very attractive introductory interest rate like 2 to 3% or sometimes 0 interest rates on your card. If you carry over the balances in this period it is ok. But when you don’t aware about the end date of your introductory period and continue to carry the balances then you may get a shock with some unexpected interest rate. So it is advised to mark your calendar with such important dates.
Foreign Currency Transaction Fee
If you are an international traveler then you should check out whether your card charges any fee for the transactions done outside of your country. Normally it is another 3% fee charged on all transactions apart from the actual cost.
When you default on the monthly payment credit card companies will not hesitate to raise your interest rate to some high interest percentages. So read the terms and conditions about the missed payments before you sign up with any type of credit card. Even the limited credit card should be handled carefully when it comes for monthly payments.
If you are the one who is having a habit of paying all your credit card debts at the end of each month then you don’t need to bother about the interest rates. You are someone who should be rewarded for your loyalty. So it is good to sign up with the rewards card such as Cash back credit cards. you can get visa credit cards or master cards since these are accepted all places without any trouble.