Credit Card Offers

Written by Jared Vincenti
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When looking to apply for a credit card, you will no doubt find more offers than you can even read, let alone compare. With so many companies competing for customers, there are a lot of tricks on offers made to lure you into a specific card. A savvy shopper will look past this bait and find the best card for their needs.

Words to Watch Out For

The first thing you want to do is to ignore "rewards." While these are a nice perk to having a credit card, they are often offered at the cost of other, more important, services. Frequent flyer miles, store discounts, and cash back can seem good reasons to get a card, but these considerations should be saved for last, if at all.

The second word to watch out for is "variable." This usually applies to a variable APR, which introduces you at a specific interest rate that will then change over the life of the card. If you miss a payment, your APR will rise, and may not return to its initial rate for many months. Because of this, you may end up getting charged more when you can least afford it.

The final word to be wary of is "introductory." On the same premise as the variable APR, you start with a favorable interest rate that then will rise once you've accumulated a balance. Because of these fluid APRs, you should always look for a fixed APR if you can--it may be slightly higher than your introductory APR, but will be well worth the stability.


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