Saturday, March 15, 2008

Why You Should Compare Credit Card Offers

Consumers should not assume that all credit cards are created equal. It doesn’t matter how good or bad your credit is or what you do with your credit card, there is one credit card out there that is better than all of the others for you. If you simply accept every credit card offer that comes in the mail you may not be doing yourself any favors, in fact you may be doing a disservice to yourself.

One reason that you should compare all credit card offers is that you can save a lot of money if you seek out a credit card with a lower interest rate. Many people assume that because credit cards all usually have high interest rates that it doesn’t matter, but it does. For example, you may receive two credit card applications in the mail on the same day and you may randomly choose one to apply for and start using.

The credit card that you ended up with features a 26% interest rate but the other that you threw in the trash featured a 15% interest rate and 0% on balance transfers. That is an 11% difference in the interest rates and that adds up when you spend hundreds or even thousands of dollars on a credit card.

You should also compare credit cards before you choose one so you can get the credit card that will do the most for you. Some credit cards are straightforward and don’t really offer much to the consumer. Other credit cards will give you frequent flyer miles every time you use it, cash back, free gas, and other prizes.

If you have a credit card that you use all the time, why not benefit from that use? Many people earn hundreds of dollars in cash back credits or earn hundreds of dollars of plane tickets or free gas simply for making their every day purchases. Why shouldn’t you be taking advantage of these opportunities as well?

Comparing credit card offers before you accept one or all of them is important. You'll save a lot of money on interest and you can take advantage of great cash back offers and rewards at the same time. There are many different credit cards out there for consumers to choose from and I have provided you with a step in the right direction. For a complete list of the best credit cards, be sure to check out