Where do you start when trying to find the best credit card deals? Many people being by looking at their credit rating - after all the interest, credit and deals you are offered by any credit card company will be dependant on an independent confirmation of your spending and credit history. In short, your credit rating will affect not only the amount of credit you can be offered but, ultimately, whether you will or not! Your credit rating or score is a figure given to you to inform lenders as to how much of a risk you are perceived to be when it comes to borrowing money. If you have spent years missing payments and incurring penalties or have been made bankrupt or suffered at the hands, then your credit rating is likely to be poor and you can expect higher interest rates and lower credit limits.
Finding the best credit card deal is a bit like choosing a tool: you have to find the right one for the task in hand. Which then begs the question: what do you intend to use the credit card for? For example, if you already have credit cards with existing debts on them, you might want to consider applying for a credit card with a favourable balance transfer deal. That way you can move the current debt to a new card with a rate that suits your needs.
For those who want the security of having access to money when they need it, but do not want to be a regular credit card user, then a cash-back or reward deal might serve you best, offering additional consumer protection. The same type of credit card deal should be considered by those who are regular credit card spenders, but do pay off their credit card bill each month; this way they can reap the rewards that the cash-back and reward systems offer. And for those who are happy to make a little effort and 'play the system', then Purchase Cards can offer a shrewd way of making a credit card work for you by changing providers when the next best introductory rate unveils itself. Or, you can simply go for the credit card with the lowest available standard rate.
Incentives can vary from company to company and as competition for customers gets fiercer, the more offers there seem to be. Typically, you can expect introductory offers of 0% interest for a fixed period of time, good rates on balance transfers and occasional 'grace periods' that cover times when it is difficult for repayments to be made. On top of that, there are various perks or 'loyalty reward schemes' that may include things like travel insurance deals, cash-back offers on selected items - or even frequent-flyer air miles.
If this range of incentives only serves to make the decision more difficult, then your best option is to go to one of the many online comparator sites. Sites like Motley Fool and Moneysupermarket offer a chance to see the offers made by credit card companies side by side and explain them in concise, simplified terms. Many of these sites have a 'top ten' table, showing the most attractive, current credit card deals and, importantly, most of these sites are free to use.
This is where online comparison sites prove themselves to be invaluable tools. These sites are generally free to use and offer you concise information about credit card companies and the deals they are offering. Armed with your research, it is then almost a process of elimination to decide which the best credit card deal is for you. Sites like Moneysupermarket.com or Motley Fool.co.uk provide easy-to-read listings of the current and best deals on offer and do just what their generic name suggests: they collect and collate data on these deals and you can compare them yourself, according to your needs and requirements. When trying to find the best credit card deals, the best place to start is by looking at your own finances, deciding what you want to do and then finding the right tool for the job.
Finding the best credit card deal is a bit like choosing a tool: you have to find the right one for the task in hand. Which then begs the question: what do you intend to use the credit card for? For example, if you already have credit cards with existing debts on them, you might want to consider applying for a credit card with a favourable balance transfer deal. That way you can move the current debt to a new card with a rate that suits your needs.
For those who want the security of having access to money when they need it, but do not want to be a regular credit card user, then a cash-back or reward deal might serve you best, offering additional consumer protection. The same type of credit card deal should be considered by those who are regular credit card spenders, but do pay off their credit card bill each month; this way they can reap the rewards that the cash-back and reward systems offer. And for those who are happy to make a little effort and 'play the system', then Purchase Cards can offer a shrewd way of making a credit card work for you by changing providers when the next best introductory rate unveils itself. Or, you can simply go for the credit card with the lowest available standard rate.
Incentives can vary from company to company and as competition for customers gets fiercer, the more offers there seem to be. Typically, you can expect introductory offers of 0% interest for a fixed period of time, good rates on balance transfers and occasional 'grace periods' that cover times when it is difficult for repayments to be made. On top of that, there are various perks or 'loyalty reward schemes' that may include things like travel insurance deals, cash-back offers on selected items - or even frequent-flyer air miles.
If this range of incentives only serves to make the decision more difficult, then your best option is to go to one of the many online comparator sites. Sites like Motley Fool and Moneysupermarket offer a chance to see the offers made by credit card companies side by side and explain them in concise, simplified terms. Many of these sites have a 'top ten' table, showing the most attractive, current credit card deals and, importantly, most of these sites are free to use.
This is where online comparison sites prove themselves to be invaluable tools. These sites are generally free to use and offer you concise information about credit card companies and the deals they are offering. Armed with your research, it is then almost a process of elimination to decide which the best credit card deal is for you. Sites like Moneysupermarket.com or Motley Fool.co.uk provide easy-to-read listings of the current and best deals on offer and do just what their generic name suggests: they collect and collate data on these deals and you can compare them yourself, according to your needs and requirements. When trying to find the best credit card deals, the best place to start is by looking at your own finances, deciding what you want to do and then finding the right tool for the job.
About the Author:
Martha Gallagher has published personal finance documents for the credit card industry for the last 3 years. You can check out the cheapest credit card offers in Ireland from some of her published work. Grab a totally unique version of this article from the Uber Article Directory
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