Best Credit Card Offers means best for you as an individual, so what are you looking for? Low interest, 0% apr Balance Transfer, Cashback, Air Miles or something else. What is a best credit card offer for you may not be the best for someone else whose requirements are different. Here you will find a brief overview of the different types of credit cards that are available with details of the main benefits of each.
Low interest. Unless you are going to pay off the balance in full every month, a low rate of interest will an essential feature. Although the credit card industry is very competitive, it is possible to find significant differences in the interest rates charged for the different cards. Many companies offer low introductory rates lasting for six or twelve months.
0% APR Balance Transfers. Similar to the low introductory interest rates these offers last for up to twelve months before the rate increases to the standard rate for the card. These offers are ideal if you are paying interest on a substantial balance on your present card, so a transfer to a new card with no interest for a year is well worthwhile. Watch out for transfer fees which can sometimes take the edge off the deal.
Cashback. Cash rebate credit cards pay you a sum based on the amount you spend on your card. The standard rate is 1% but special offers can pay up to five times as much.
Reward Card. This type of credit card is similar to the cash rebate cards except that the reward is in the form of a voucher rather than cash. With most of these cards you earn one point for each dollar that you spend, and you are then able to redeem these points for travel, car rental, hotels, gift cards etc.
Air Miles. This is another variation on the reward scheme but here you earn points which you can use for flights. Here again the standard rate is one point for each dollar spent, but several different bonus schemes are on offer. Some companies give you an initial bonus of several thousand air miles but charge their normal interest rate from day one, others give you a low introductory rate with only a small bonus.
Charity Cards. Yet another type of reward card but with these credit cards the benefit goes to the charity concerned. This is an easy way to give to charity without you having to make a payment out of your own pocket. The downside is that the amount that the charity receives is a very small proportion of your spending on your card. A small donation paid direct to the charity is far better value.
Bad Credit. For people who have had problems such as sickness, redundancy or relationship breakdown which have left them in a position where they have been unable to pay their bills and have accumulated debts, there are a range of cards suitable for their circumstances. There are secured and unsecured credit cards which can be used to rebuild their credit score.
Although we have listed a number of different credit card types above, many of them combine one or more of the features in the same credit card. So a 0% APR introductory rate can be found with a cashback and a low rate balance transfer. So take your time when looking through the best credit card offers to make sure you end up with the best deal for you.