What's Up With This Credit Card Offer?

Credit card offers are more than likely bombarding your mailbox everyday, but which ones are the right ones. There are so many it can be confusing. The ones that come in the mail I scrutinize very carefully when I receive them. How do they know me, or how do they know me well enough to be preapproved? Did I sign up for other offers besides credit card offers, where they may have gotten my name.

When I am in the market for a credit card, I look at the approved rate, how long it will last, what will the interest rate be after the approved rate period is over. Is there an annual fee, is there a balance transfer fee? I guess basically what I am saying is I read the fine print.

From looking online at different sites I will gather information as well to compare. This way I know I am making a good choice. There are so many credit card offers, do not choose anyone or even the first one that comes along, check them out first. You shopped around for your mortgage right? Do the same with your other finances. Remember the lower the interest rate the quicker the bill gets paid.

Another good feature to look for in a credit card offer would be rewards on purchases, rebates, discounts on future purchases and some even have life insurance. I have one card that has $1,000.00 in life insurance for free, just because I am a member, and if I want more, I can purchase more.

Always ask yourself, what am I going to use this card for. Is it going to be for emergencies, furniture, gas. A lot of times if I am buying furniture, I will try to budget how much I will pay on the card before I charge on it, to see if I can afford to buy that piece of furniture right now. I usually don't buy gas on a credit card, but if I do I will pay that in full every month.

Another thing I will do, is every six months to a year I will call my credit card company and negotiate a lower interest rate for my year of always on time payments and over the minimum payments, and sometimes I will get a one percent lower rate.

It is ultimately your choice of what credit card offer to accept, but go with the one that you have researched and you know it will work for you.


Pat Wood is the author and owner of the website http://www.best-creditcards.info She has been in the banking industry since 1987 and has written several articles on credit and debt.