Credit card deals

Credit card deals

Credit card deals can become confusing for the consumer looking for a credit card that compliments the promotions that they are looking for.

The usual promotions include points to be redeemed as money off grocery shopping, as well as points to use for Air Miles, made popular lately in the movie Up in the Air, where the lead character played by George Clooney gets a personal visit from the pilot as well as his name on an airplane for reaching 1 million air miles; so at least there is soemthing to aim for.

Some of the best credit card deals also have a promotional period, whereby there is a 0% APR (Annual Percentage Rate) on purchases and balance transfers usually from a year to fifteen months, but you need to be aware of how expensive a credit card can become once that promotional period ends and you are unable to keep up with the payments.

What many folks do as long as their credit rating can afford them to do, is move the balance of the card to a newer card equally offering the same or better promotional features, once the promotional period of the current card comes to an end.

There is always the danger that you may not be able to clear the balance on the card, as applying for different cards in a short period of time causes a red flag to be raised against your credit rating, and could adversely affect it, so it’s a little risky hoping that when the promotional period ends you would be able to move the balance onto a newer card.

As well as unsecured crdit cards, which is the main type of credit card being offered by the banks and building socieites, there are also secured credit cards, which are secured agsinst a home or property, and prepaid credit cards, which act rather like a debit card, as the funds must already be there before being debited, this is especially aimed at those with bad credit, as it means the credit card issuer is not loaning them any money, which is basically what a credit card is, a loan on a plastic card; but they are still charged a monthly usage fee.

Regardless of the credit card type, and the various charges that come along with them from, interest charges, to over limit charges, to late payment charges, which can seem a little extortionate, they do come in handy in an emergency, i.e. when trapped in a rural area without a cash machine for miles, but a local grocery store, you can always ask for cashback, although it is treated as a cash purchase with a similar higher rate of interest it can come in handy in an emergency.

Visit Debt consolidation for some great consumer credit counseling services, and dealing with credit card debts in general.

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