When is a Credit Card Deal Good? - By: Paul McDermott, Posted on: 2007-07-30

What exactly makes a good credit card deal good? You probably hear often how someone you know is ecstatic over the credit card deal she just got and how many rewards she is going to get. Should you rush to get the limited time offer "great deal" she just signed up for?

Well, in short, probably not. First, there are so many different cards available now that a good deal for your friend may be because she loves pugs, and her card gives her rewards whenever she buys something from her pet store. You on the other hand secretly think her dog is ugly and would rather be at your book store catching up on the latest best sellers.

The most important thing to realize here is the word 'your' as in 'your lifestyle'. So logically speaking there is nothing like a good credit card deal. What it is - is good credit card deal for 'you' i.e. the individual who is going to use that credit card.

Now, if it is your friend who told you about the good credit card deal, chances are that it could work for you, since it is likely that you have some similar hobbies. But you may not have similar credit histories. If yours is not so good, then you may not qualify for the deal your friend got.

Travel and airline cards often give rewards, although they often have fairly high annual fees, and sometimes restrictions on redeeming the rewards that make them inconvenient for what you will pay. I am finding the cost of having one of these cards keeps going up, so make sure you will really benefit from the rewards you can earn.

Then there are the cards for particular stores. Say you shop at Target a lot. You will certainly get told that you can save 10% on your purchase that day if you open an account. It sounds good if you are making a big purchase that day, but do you really need a new card? And if you don't pay off the balance every month, what interest rate will you pay? These types of cards tend to have high interest rates.

For most people, a basic credit card may be the best. You could still get rewards for purchases. But remember, credit card companies are smart and out to make money. So they know the typical spending habits of a card holder, and structure their deal to make themselves a profit.

A good credit card deal is really a relative term and there is no credit card deal which is equally good for all.

Article Source: http://www.southerncaliforniarealestateagent.com/submit-real-estate-articles

Author Paul McDermott shares his experience with good deals on credit cards and other credit and debt issues at Credit Card Debt.
This and other unique content good credit card deal articles are available with free reprint rights.

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