Introductory Credit Card Offers for a Limited Time
Introductory offers are promotions which run on credit cards that are available to applicants for a limited time period.
They are popular and useful as they come with incredibly attractive benefits such as 0% interest, low introductory purchase rates, bonus frequent flyer points and reduced annual fees. Listed below are some the best introductory credit card offers in market.
Featured Introductory Credit Card Offer
Take advantage of this introductory balance transfer offer and discounted annual fee.
- $64 p.a. annual fee for the first year ($129 p.a. thereafter) annual fee
- 20.99% p.a. on purchases
- 0% p.a. for 8 months on balance transfers
- Cash Advance Rate of 20.99% p.a.
- 44 days interest free
- Minimum Income Requirement of $35,000 p.a.
Comparison of Introductory Balance Transfer Credit Cards
Comparison of Introductory Purchase Offer Credit Cards
Comparison of Frequent Flyer Credit Cards
Comparison of No Annual Fee Credit Cards
Introductory Offer Comparisons
Table of Contents: Guide to Introductory Rate Credit Cards
- Compare introductory offers
- Advantages of being a new applicant
- Rewards you may get by opening a new credit card
- Which is the best introductory credit card?
- How do introductory rate credit cards work?
- How to use a introductory rate credit card
How Do Introductory Rate Credit Cards Work?
Those of you who have tried to compare credit cards in the past are very much familiar with introductory credit card offers.
Some credit card companies offer 0% interest balance transfers as introductory offers within the first six months for a balance transfer. Other companies offer a waived annual fee in the first year, while some would offer low interest rates on purchases for the first few months. Plus other credit cards yet would offer extra reward points on purchases. Apparently, all of these introductory credit card offers have one specific goal, and that is to encourage you to apply for the credit card. The question is, should you really apply for the credit card?
Introductory rate credit cards are special deals offered to get your business. Credit card companies may give you no or low interest on purchases or balance transfers for a limited time period to encourage you to open an account with them. While they can be a good way to save money, any consumer should understand how they work before accepting one of these offers.
Introductory rate credit cards can be great deals. As with all best credit cards when you use them you are actually borrowing money from the credit card company to make your purchase. Then you typically have a small window of time to repay that debt for free, after that you are charged interest on the money you borrowed.
Introductory rates usually minimise significantly or completely waive those interest charges. This gives you a chance to borrow money for free or even pay off another credit card for free with a balance transfer. The rate is either low or zero percent and the time period of the honeymoon rates ranges from three months to one year.
A honeymoon rate is often such a money saver that it seems like too good a deal to pass up. This is exactly how the credit card companies market them, big savings of which you would be foolish not to take advantage. There are some tricks and tips though that you should pay attention to in order to avoid falling into a credit card debt trap.
If you are planning to use introductory rate credit cards you expect to save money. Too often people get into these deals and do not read the fine print or pay attention to rates and timetables. They wind up spending more then they anticipated in interest and fees. Try to remember that credit card companies are in business to make money from your financial needs or missteps. Being smart about how you use your credit card and understanding how credit cards work will help your introductory period a cash saver rather then a big mistake.
How To Compare Introductory Rate Credit Cards
Anyone considering opening a credit card account should carefully examine introductory rate credit cards. These cards offer great rates, but only for a limited period of time to earn your business. There are several things to consider so that you save the most amount of money possible on an introductory rate card.
Introductory rate credit cards are a tactic used by credit card companies to lure you into doing business with them. They make it sound like they are offering you the chance to spend freely with zero percent interest on purchases card or to pay of another credit card debt cheaply with a no interest balance transfer. Used effectively you can save a significant amount of cash with one of these schemes. But, used carelessly you can wind up in a financial mess. The goal for a credit card owner is to be as smart about spending as their credit card company is about marketing.
When you look into getting a credit card, whether it is your first or just a new one, there are a lot of things to consider that will effect you long term. Remember that introductory rates are short term but you must consider both the short term and the long term benefit to switching cards or using one particular card over another. In addition, there are a variety of benefits and costs associated with all credit cards, so you must be sure that your introductory rate stacks up with those other benefits. If you switch to a card that offers a low introductory rate, but after six months or a year that rate jumps higher then your current card you will no longer be saving money. You will either have to look for another card and switch again or stay with your current card in order to save money in the long run. This is why introductory rate cards are not for every credit card owner.
Who should use an introductory rate credit card?
- Someone who needs to do a balance transfer. A balance transfer is when you move the balance from one credit card to another credit card. Most people do this so they can save money on interest. Introductory rate credit cards usually offer very low or no interest on balance transfers. This gives one the opportunity to repay their debt at a low cost. These cards are not a good choice if you need a long period of time to pay off your balance transfer. You should look into a life of balance transfer card which will give you a long time period to pay off your debt.
- Someone who will be making a large purchase or purchases that they will need some time to pay off. These people can use a no interest introductory rate instead of a traditional interest bearing loan to make these purchases. Some expenses may include emergency medical expenses, auto repair expenses, or even home remodeling expenses. You can spend on your card and have the introductory period, which is anywhere from three months a full year to repay those expenses interest free.
- If you need to do both of the above mentioned transactions there are some cards that offer introductory rates on both balance transfers and purchases. You should try to get a card that offers the same rate for the same length of time in order to avoid falling into the negative payment hierarchy or allotment of payments trap.
What is negative payment hierarchy?
- Also referred to as an allotment of payments clause, this is when credit card companies apply your payments to the cheapest debt first. All credit card companies do this and it is a perfectly legal but somewhat sneaky way they turn a profit. For a borrower though, it means they could be stuck paying higher interest on a small debt for a long period of time, waiting for their lower interest debt to be paid off. For example, let’s say you get a new card and you have a zero percent balance transfer rate. You then transfer $1500 to your new card with the intention of payin
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Credit card offers:Learn about our information service
|HSBC Credit Card||Bankwest Zero Platinum Credit Card||Virgin Flyer Credit Card||ANZ Low Rate
0% p.a. for 6 months
on balance transfers & no annual fee
0% p.a. for 9 months on balance transfers & platinum benefits
0% p.a. for 8 months
0% p.a. for 9 months
on balance transfers & low rate
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