Getting The Best Credit Card Deals
How can you get the best credit card deals? Should you negotiate with credit card companies?
Many people don't think much about shopping around for credit cards like they shopping around for a car or a house. Yet, it's probably just as important. Credit cards are just like bank accounts. They allow you to spend someone else's money for a specified period of time. And if you can't pay the money back within 30 days, you'll be charged a specified interest rate. So what are some things you want to look for in a quality credit card? Here are some tips.
• Low interest rates. The first thing you should look at is the interest rate. The normal interest rate for credit cards is about 18 percent. You want to get interest rates lower than that figure, if possible.
• Look for high spending limits. This may not be important if you don't spend much on credit cards, but if you tend to make large purchases, you may be forced to pay with a credit card. Many companies won't accept checks for purchases over a specified amount.
• Look for cards with special offers. Many credit card companies offer ways for you to get free stuff if you spend a certain amount. You might be able to earn a free airline ticket or free long-distance minutes. You should shop around and find out what kinds of deals are available.
• Look for temporary low-rate offers. Some credit card companies will give you an extremely low–or no–interest rate for a set period, such as a six-month period. But something else you need to carefully consider is that these low-rate offers do in fact end, and the credit card companies often then push your interest-rate level up higher than most credit cards.
• Bargain with your credit card companies. Before you start looking for cards, contact the credit card companies you already do business with. You may be able to get a much better offer than you already have, and you wouldn't have to go through the application process, as you would if you'd get a new card.