Not All Credit Cards Are The Same!

Not All Credit Cards Are The Same!


How many credit cards do you carry? 2? 5? 11? If you were to add up all of your store cards, gas cards and your MasterCard, VISA, American Express, Discover and other national cards, you might be surprised at that number. Then again, maybe you have several cards but are considering finding a new card, one with a special deal not offered by your current card issuer.

Credit CardsCompare Credit Card Offers

You probably already know this, but not all credit card offers are the same with some offering high rates and absolutely no rewards to others which will can provide for you a low, fixed rate and special rewards. Before you shop for your next card, let’s review the variety of credit card choices out there for your consideration.

Low Interest Rate Credit Cards — Higher interest rates have made these cars a bit less common, but there are still credit cards available with low rates, even 0% financing for balance transfers. In most cases, these special rates are in place until the transfers are paid off with newer purchases charged at a higher rate.

Low Introductory Rate Credit Cards — To entice you to use a particular credit card, some credit card issuers will offer to you a special “teaser rate” that will run for a number of months, usually for as long as six to twelve months. You can make purchases at the very low rate (let’s say 2.9% for twelve months) and then pay 12.9% or more on balances after that time. These cards can be a great way for consumers to make an expensive purchase and paying off their balance over a few months time without incurring a lot interest charges.

Pre-paid Credit Cards — Consumers who have bad credit as well as students who are off to college, a pre-paid credit card allows people to build up their credit rating while still having the convenience of shopping with a credit card. No need to carry around a lot of cash, if you misplace the card you haven’t lost your money and can get a new card.

Rebate Credit Cards — Use your credit card and get paid for using it! This may sound like a scam, but it isn’t: some credit card providers will give you cash rebates on certain purchases. Spend $500 and you could have $10 credited to your account, depending on the offer.

Award Credit Cards — Also known as rewards cards, an award card works like a rebate credit card: you get to select gifts based on points you have accumulated with your purchases. In many cases, one point is awarded for every dollar spent and you can redeem those points online or through a catalog sent by the credit card company. Some issuers will automatically give you 500 or more points with your initial purchase, even throwing in a bonus offer through special promotions which can double or even triple your points during a special promotional period (for example, the holiday shopping season).

Other Special Card Deals Too

The previously mentioned credit cards choices are typically MasterCard or VISA network special offer credit cards, but American Express and Discover have deals which may be worth a look too. Manage your various rebate cards with this free download to help you get the rebates and rewards coming to you.


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About Author

Matthew C. Keegan

Matt Keegan is a freelance writer and editor as well as publisher of "Matt's Musings", his personal blog. Matt covers campus, consumer, business and financial topics on various websites and blogs, and has been published in the "Houston Chronicle", "Sam's Club Magazine" and "Wisconsin Golfer".