What to Look for When Choosing Great Credit Cards
Those with good credit can choose between the different kinds of credit cards available. You can learn about the rates available on these cards as well as any rewards that they offer through the free credit card offers you receive in the mail or in your inbox.
The offers you will receive fall into two general categories. Choosing the best credit card offer for you involves looking at what each of these two categories can offer you.
Cards with Rewards
The most common scheme to attract customers is to offer a rewards credit card. This is a credit card which allows you to receive a bonus whenever making purchases. Items like gas, groceries and car rentals can offer larger rewards than other purchases.
The most popular of these kinds of cards is the cash back credit card. All of the purchases that you make can net 1%-25% on purchases. Cash is reimbursed to you in the form of a rebate on your credit card statement. Some offer you the option to use the amount towards the balance of the card, in the form of a check or to purchase items from a catalogue.
The second most popular is the airline credit card. Every purchase adds miles to the account you have with the airline of your choosing. You will accrue even more credit card air miles whenever making a purchase of a ticket with the airline that you have an account with. These can be redeemed to get airline tickets to destinations around the world.
Cards with Low Interest
Another popular way to get you to switch cards is through the 0 interest credit card offer. This will allow you to transfer a balance from a high interest card to the new card. You will pay 0% interest on the transferred balance until it is paid off or you have reached a certain period of time – generally a 1-3 year time span. All new purchases will be assessed at the normal interest rate. Due to recent changes in the laws, any payments made to the account will pay off interest bearing purchases first.