Finding the Best Credit Card Applications

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Copyright © 2010 Jeffrey Weber


Online credit card applications can be confusing. That's the way the banks want them. When you search for a credit card, you'll likely come across credit cards that advertise long 0 percent interest rates and low long term interest rates. However, when you get to the credit card application fine print, you may find that the offer you liked is not the best credit card for you.

How Long Does the 0 Percent Interest Rate Last

Many people seek out the longest 0 percent interest rates so they can save money with balance transfers or reduce interest expenses on new purchases. Unfortunately, not all 0 percent credit card offers are as generous as they appear.

Some credit card companies are straightforward about 0 percent deals; other companies advertise 0 percent rates for up to 15 months, but only give that rate to some applicants. When you are examining credit card applications, be sure to check the fine print to see if the 0 percent rate is the same for all applicants. If it is not, you might be able to find a better credit card.

How Low Will the Interest Rate Be

Most credit cards advertise interest rates that are "as low as" a certain percent. When you dig deep in the fine print, you will likely find that the credit card you are thinking about offers multiple interest rates, based on a review of your credit. A few companies do offer a single rate to all approved applicants. These are the best type of low interest credit card offers.

How Much Will I Earn in Rewards

If you are not seeking a 0 percent or low interest credit card, there's a good chance you're looking for a credit card with a good rewards program. Some credit card companies offer very straightforward rewards: you earn exactly what is offered. Other credit card companies try to entice applicants with free airline miles or points. However, these credit cards often have annual fees, so be sure to inspect the fee section of the credit card application.

Final Thoughts

Before you pull the trigger on an online credit card application, be sure to review the fine print carefully. Credit card companies advertise enticing 0 percent and low long term interest rates, but not every applicant can qualify. The same is true with rewards credit cards. Some deals are good; others are too good to be true.


About the Author:
Jeffrey Weber is the editor of http://www.cardwisdom.com/ and an active personal finance blogger. You can learn more about credit card applications and apply for 0-percent credit cards at http://www.cardwisdom.com/best-credit-card-applications.php