Creditnet News Story
Shop around when considering credit card offers
Monday, November 30, 2009
By Sam Lee
How a person plans on using a card should influence which one they pick.
When receiving credit card offers, there are a number of things people need to consider before choosing a card.
A recent report from Tampa Bay's WFTS-TV noted that a consumer should consider the account terms put forward by different credit card offers. One thing that can help a person choose a credit card is how they plan on using it.
For example, if a person thinks they may carry a balance, they should choose the card that offers the lowest annual percentage rate. However, if a consumer plans on paying the debt off every month, the television station stated they may want to pick a card that doesn't carry an annual fee.
"You might also look for extras like frequent flyer miles, gasoline rebates, or a long grace period in which your purchases are carried interest-free," the story said.
Given new regulations that would affect credit card interest rates, many card companies are turning to other methods in order to keep revenues up. For example, some may introduce membership fees to cards, while others are increasing interest rates while the law still allows them to do so.
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