Why Compare Credit Card Offers to Find the Best Deal

The Truth about Credit Card Offers

Why do the credit card providers off such incredible features like ‘interest free’ and ‘0% balance transfers’? What’s in it for them?

These might be some questions that have run through your head. They’ve certainly run through mine.

I am always more than a little skeptical about signs that shout out “Zero Percent Interest” or “Interest Free” or “Flat Fifty Percent Off”. The only thought that runs through my mind at those times is: “Where is the catch?” There usually is a catch.

The question is: Does the catch overpower the benefits? That is the question that I ask myself just before I buy a new credit card or enter a sale. I usually find that the catch is somewhat insignificant when you compare it with the bigger picture.

I usually have a lot of these cynical moments when I am on the lookout for a new credit card. It seems to me that there are too many great offers going. It is as though they are too eager to sell me those credit cards. Why is there so much enthusiasm?

I mean, why would a company offer something like interest free credit cards? What is in it for them? And what about the zero percent balance transfer credit cards? What is the deal with them?

Well, I think once you do away with the skepticism, you find that most of these offers are more or less true to what they say. The majority of cards offering low interest are only for initial periods after application. After all, credit card companies are bogged down by immense competition. Each has to attract more customers than its nearest rival.

The same logic holds with 0% balance transfer credit cards. The credit card companies want to do business with you. They want to sell you their credit cards. So they have to take the help of gimmicks like this to win you over to their side. In fact, balance transfer credit cards are a prime example of how credit card companies lure away the customers of other credit card companies.

The Credit Card Catch

On the surface, the great offers sound extremely enticing. Yet even under immense competition, credit card providers must still retain a profit. For a 0% interest rate card, a higher annual fee might be subtely mentioned in the terms and conditions.

For a card with no annual fees, the interest rate may be higher to counter the benefits.

Of course, you may come across a card with the whole package of benefits. Generally, these will only be the introductory rates and offers, which credit card users occasionally don’t realise.

Suppose you have a credit card with one company but wish you could get a different credit card that charges a different rate of interest, you could consider getting a hold of a balance transfer credit card.

The Reality on Credit Cards

There will be lots of cards that make you offers that you will not want to refuse. The competition is simply fierce – credit card firms won’t stop trying to topple each others benefits and deals at the cost of losing market share.
In the end you have to look past the surface value, which will always look intriguing and beneficial. As mentioned, with so much competition, ultimately credit cards in the modern age aren’t designed to rip you off as consumers will just turn to another provider. The power lies with the consumers.
Author: Ajeet Khurana from http://www.cardguide.co.uk/

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1. How to Compare Credit Card Offers
2. Compare Credit Card Offers
3. Planning to consolidate credit cards? How to compare balance transfer offers
4. Balance Transfer Credit Card Offers
5. Negotiate Like a Pro to Get a Better Credit Card Deal

Best Balance Transfer Credit Card Offer

The Bankwest Lite MasterCard is Australia's cheapest credit card offer, giving you the lowest MasterCard purchase rate of just 9.99% p.a. as well as a long balance transfer offer on your existing credit card balance at 1.99% p.a. for 12 months!

Click here to access the Bankwest Lite MasterCard terms & conditions.

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
Bankwest Lite MasterCard	Editor's Choice: Cheapest Credit Card The lowest stress mastercard, with Australia's lowest MasterCard purchase rate of just 9.99% p.a.	9.99%	20.99%	1.99% for 12 months	$59	55
St George Vertigo	Editor's Choice: Best Bank Low 2.99% for 6 months (reverts to 11.99%) p.a. interest rate and balance transfer rate, from one of Australia's most respected banks.	2.99% for 6 months (reverts to 11.99%)	20.74%	2.99% for 6 months	$55	55
Coles Group Source MasterCard	The Coles Group Source MasterCard has no annual fee, a 0% p.a. balance transfer offer for 6 months, with a rewards program including savings on fuel and FlyBuys Points	19.74%	21.99%	0% for 6 months	$0	62
Citi Clear Platinum Visa	Editor's Choice: Low Interest An excellent low interest credit card offer with 11.49%interest on purchases and 0.99% for 6 months on balance transfers .	11.49%	20.99%	0.99% for 6 months	$49 (First Year, Save $50)	55
Bankwest Zero Platinum MasterCard	Editor's Choice: No Annual Fee Excellent introductory offer with a $0 annual fee for the life of the credit card and a 1.99% p.a. for 12 months on balance transfers	15.99%	15.99%	1.99% for 12 months	$0	55