Ideal Offers For Credit Cards

jaschmidt | Dec 16, 2009 |

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Looking for the ideal offers for credit cards takes patience and a little pencil pushing on what the credit card company has to offer. The ideal offer for credit card should have more focus on lower interest rate in terms of credit card usage and not so much on the freebies that come along with it.

Examples of items to look for when searching the ideal offers for credit cards are lower annual percentage rate (APR) or even 0% for introductory offers, other APRs, variable rate information, grace period, method of computation, foreign currency transaction fee, annual fee, minimum finance charge and other fees. As a whole, you can compare what the other credit cards charge in terms of these criteria when looking for ideal offers for credit cards. The credit card company which can offer the lowest interest rates and fees can be considered the ideal offers for credit cards. Here are some examples of what ideal offers for credit cards are:

1. The ideal offers for credit cards include the 0% APR for the first 6 months to all up-to-date payments on purchases made. In case of delay or non-payment, the default rate applies. The standard APR is the variable rates from 11.99% to 18.99%. The variable rate is computed by getting the prime rate plus rates from 8.74% to 15.74%. The prime rate is based on the highest prime rate of The Wall Street Journal at the end of the month's last business day.

In relation to other APRs, the ideal offers for credit cards to some issuers are as follows; 0% for the billing periods on balance transfers. The standard APR from 11.99% to 18.99% for purchases will apply starting on the 7th billing period, 23.99% variable rate on cash advances and not to exceed 29.99% as variable default rate.

2. The grace period to be considered as the ideal offers for credit cards is at least 25 days after the end of each billing period. Another of the ideal offers for credit cards is one where the credit card companies will not charge periodic fees and charges for new purchases as long as the whole balance is paid on or before the due date of each month.

3. The method of computation on the balance for purchases is based on the average daily balance of the previous purchases plus the new purchases.

4. The 2% foreign currency transaction fee based on the U.S. dollar amount.

5. No annual fee, $0.50 minimum finance charge, 3% transaction fee for each balance transfer transaction fee and 3% transaction fee or minimum of $5 for every cash advance.

With all the numbers given in terms of percentages and amounts, the only way to know that you are getting the best deal in the credit card is by making your own computation. After arriving at certain amounts, you must compare them with the rates and fees of what other credit card companies have to offer. This is the only time that you can truly say that you got the best of the ideal offers for credit cards.