Finding the Best Credit Card Deal

With so many competing credit card offers out there, how do you possibly find the best credit card deal for you?  In television ads, every credit card company makes it appear that their card is both a great deal and perfectly suited to your lifestyle.  You know the commercials I'm talking about; there are always smiling, well-dressed people on their way somewhere exotic, whipping out their credit card at every turn.

But to find the truth about credit card deals you need to go a lot deeper than the television commercials. Sometimes those "perfect" people, with their "perfect" credit cards are neck-deep in debt, and paying extortion-like interest rates!

You also hear a lot of talk about how certain cards will "fit your lifestyle," when the truth is, the deciding characteristic of any credit card has nothing to do with "lifestyle," and everything to do with its annual percentage rate, or APR. Getting the best credit card deal means getting a card with a low annual percentage rate -- everything else is secondary to this one financial concern.

Even if the card offers all sorts of perks, air miles, or even cash-back bonuses, it still won't be worth the plastic it's printed on unless it also has a reasonable interest rate.  With that in mind, let's take a look at a few ways to get the best possible credit card deal.

Begin your research by searching online. The Internet makes it simple to compare credit cards, and even do head-to-head comparisons of interest rates, perks, and any associated fees a card may carry.  After comparing several different cards you will begin to narrow down your selection.  At this point it is critical to check the fine print on each card in order to understand if it is actually a good deal for you or not.

Now, I know this part is boring for many people.  It's so much easier to just look at the pretty people in the advertisements and make a selection based on that.  But unless you want to get stuck with a bad credit card deal, it is necessary to thoroughly examine the terms and conditions of the card in question.

I recommend printing out a credit card's terms and conditions page online so you can review it thoroughly.  If you have questions about certain points, do not hesitate to call the credit card company's customer service and ask specific questions. All major credit cards have knowledgeable customer service departments, and as a potential customer you will find they are more than happy to provide you with any information necessary to help you make your decision.

One common tactic to attract customers these days is to offer a 0% APR for the first six months or so, and no annual fee for the first year.  These deals can be worth while, but again, pay special attention to this standard annual percentage rate, so that you don't get locked into a bad deal after this initial "grace period" has ended. 

If you do your homework you can even find credit cards offering 0% APR for up to two full years. Assuming the card in question does not have an unreasonably high APR, this could be the way to go. A low standard APR combined with an extended 0% APR period of a year or more could be the best credit card deal for you.