What about the best credit card offers – or credit cards and credit card offers in general? Do you really know “the facts” on that topic?
Knowing them will make you a more informed individual, equip you to be wiser credit card chooser and user, and also simply be very interesting to learn!
All credit cards are the exact same dimension – did you ever notice?, because the shape and size is regulated by international agreement. But not all cards are alike in other, more important ways.
Facts About The Best Credit Card Offers
How do you spot the best credit card offers? It’s not always as simple and easy as you think. Here are 5 facts to know relative to that point:
- Not all credit card offers have a “grace period” that lets you avoid paying interest by paying in full. Be sure yours does! Usually, the grace period is around 25 days.
- Most credit cards charge a 3% or so fee for foreign transactions. Anyone who travels abroad a lot or orders items from foreign sources can save with a no or low foreign transaction fee offer!
- The highest cash back percentages are usually on store or gas cards (5%), but for general use cards with cash back, the range is typically between 1% and 2%. Over the course of a year, you could save hundreds of dollars through these seemingly small percentages.
- It’s not true that everyone with poor credit or no credit has to pay an annual fee or use a secured card. While APR may be higher and the credit line lower, there are many unsecured, no annual fee credit card offers out there for those with bad/no credit.
- Researching the best credit card offer on your own can take hours or even days – but using an online search tool like the one offered by Bonsai Finance can reduce the time to mere minutes and get you better results!
Facts Of Interest About All Credit Cards
Aside from interesting facts on how to identify the best card offers available to you, here are 5 more facts you may not have known, concerning credit cards and credit card offers in general:
- A phone call often does the trick. Many card holders have gotten lower APR, got an annual fee waived, or otherwise improved their credit card agreement by calling the card company and complaining.
- You don’t have to accept a raised APR. If your card issuer raises the interest rate, you can refuse to accept the new rate. If the credit card company won’t budge, you can cancel the card and 5 years or more to pay back any outstanding balance at the old interest rate.
- High coercivity magnetic strips are far more durable then low coercivity ones. The former are normally black and the latter brown – so look for a card with a more durable strip!
- By law, you cannot be liable for more than $50 for any unauthorized use of your credit card. So zero-liability cards are “almost” the required norm.
- Credit card companies spend $80 in advertising for each customer gained – but they make $120 annually off their average customer, so they’re quite willing to pay this customer-conversion cost.
At Bonsai Finance, our goal is to make you the most informed card holder possible and to put you in a strong position.
Understanding “the facts” about how credit card offers work and which elements are typically included in the very best ones is only going to make you a wiser, more “savvy” consumer.
Our high powered search engines, in depth online library of credit card information, and helpful staff put you “in the driver’s seat” when it comes to finding the best credit card offers.