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Credit card offer – know the terms and conditions of a credit card offer

Credit cards differ in many features and so any credit card offer comes with its own unique features. In general credit card offers from different companies focus on some of the basic features like interest rate, annual fees, late fees, credit limit, discounts, air miles, other benefits etc., One should not be carried away by any attractive credit offer. It makes sense to study in detail the terms of the credit card offer and weigh them against the real needs and the obligations to fulfill the requirements of the credit card companies.

If you plan to use the credit card for normal purchases and you plan to pay the entire balance every month, then consider a credit card offers that offers benefits like air miles, discounts in restaurants, departmental stores etc., If you are of the type that carries balance every month, then you have to look for a credit card offer that features a low interest rate, no annual fees and low late fees.

Credit card offers that feature low interest rate, invariably offer this only for a short period, say 3 months to 6 months. After this period, the interest rate goes up considerably. One can get a credit card offer that allows transferring balances from other credit cards. Consider this if you carry a huge balance on existing credit cards and the new credit card offer features a low introductory interest rate and allows transferring balances. Before accepting any credit card offer, study the following :
• the annual percentage rate
• grace period
• annual fees
• method of interest calculation
• late fees
• balance transfer, cash advance fees etc.,
• whether the terms and conditions can change without notice.