5 Great Ways to Compare Credit Card Offers

When comparing the benefits of various credit card offers, the amount of information to process can seem overwhelming. However, there are really only several ways that credit card companies distinguish their offers. While some people prioritize having the lowest interest rate possible, other prefer having a credit card that allows them to earn more reward points. Using this list of comparison points, you should have a much easier time of deciding which credit card offer is the best choice for you.

1. Rewards Points

Many credit cards offer rewards points that can be redeemed for specific offers. To qualify for rewards points, your purchases may need to be made from a specific vendor or within a certain time frame. Some credit cards also charge an annual fee, which is typically higher if the rewards program is more lucrative than average.

2. Cash Back Earning Potential

Having the ability to earn cash back for everyday purchases is a major selling point for certain credit cards. If this is a feature you are interested in, be sure that you understand exactly how cash back is earned and what you must do to redeem it. Some cards have limits on the amount of cash that can be earned for purchases.

3. Balance Transfer Fees and Promotional Interest Rates

Some people consider credit cards based on their promotions for balance transfers in order to avoid paying interest on a separate credit card balance. Be sure to watch for the expiration dates on promotional offers so that you pay the separate balance off during the time when the lower interest rate is offered.

4. Lowest Interest Rates

It is easy to compare credit cards based on the lowest interest rate that is offered. Keep in mind that after you open a credit card, if you have a good history of making your required payments on time, it may be possible to request that the credit card lower your interest rate. The bank generally wants to promote customer loyalty and reward good customers. The answer is always no unless you ask!

5. Travel Credit Cards

If you are a frequent traveler, it is worth looking into credit cards that offer options for redeeming rewards points as airline miles. You may also be able to redeem reward points for your stay at a participating hotel. Be sure to check which companies participate in the rewards program before selecting a credit card based on this rewards feature alone.