Choosing a no annual fee credit card is no easy task these days. The credit card jungle is saturated with all sorts of offers that include features such as 0% introductory offers in order to entice you to become a customer. There are also other factors such as rewards and even more importantly the interest rate. Credit card providers will try to offer you all sorts of things so that you become their customer. Always consider the following factors when choosing a no annual fee credit card.
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- Be careful with introductory offers. 0% Introductory offers can be very enticing as they allow you to spend or transfer your balance from another card interest free for the specified time period. However, as soon as the intro offer is over, interest will immediately accrue on any unpaid balance and you will be subject to the cards regular APR. The regular APR rate is what you will be paying on interest once the trial offer is over. Many times that can even be higher than what you are currently paying on another card. On the other hand, if you plan to make a purchase and/or transfer a balance from another card and be able to pay it off during the trial period, you will basically have an interest free loan. 0% introductory offer balance transfer credit cards can be very helpful when used correctly. Unfortunately, the mis use of a no annual fee balance transfer credit card can get you in trouble with your credit.
- It is also important to look at the fine print when applying for a no annual fee credit card. Many card providers simply offer a $0 annual fee for the first year. Subsequent additional years will be subjected to the yearly fee. Therefore, it is always important to make sure that the no annual fee applies to every year and not just the first year of being a qualified card holder.
- Know what your credit score is before you apply for a no annual fee credit card. Interest rates are always determined by your credit rating. Those with excellent credit will get the best APR rates when they apply for a credit card. Many times there are derogatory marks on your credit that are no fault of your own. Knowing your credit history prior to submitting a credit card application will let you know what cards you will qualify for. If you have excellent credit you will also be able to negotiate a lower interest rate. “Click Here” to find out what your credit rating.
- Always make at least your minimum monthly payment. Anytime you are late with a payment , credit card issuers can immediately raise your interest rates. Many times, more often than not, you will also loose any rewards points that you have accumulated. In addition to loosing your rewards your interest rate can remain at the higher rate for an undisclosed amount of time.
- Be sure and read the terms and conditions as well before you apply for any credit card. The terms and conditions will explain every “what if” or “how to” scenario that you can think of. What if I loose my credit card? What if I make a late payment ? What if I go over credit limit ? How do I redeem my rewards? All these questions and conditions are answered for you within the terms and conditions of the application. If there is anything that you do not agree with, you simply do not have to apply for that card. Applicants always overlook the fine print thats included within the terms and conditions and are surprised why they are being charged certain amounts. Reading thoroughly and understanding the terms and conditions will prevent future surprises. If there is something you do not understand, simply, pick up the phone and contact customer service and ask a representative to explain.
- Lastly, like with any decision, take your time and make your final decision carefully. Many times applicants will rush to the first credit card offer without looking it over completely. Make sure that the features and benefits such as the rewards program is going to suit you the best. A miles rewards program is not in your best interest if you are not a frequent flier. However, if you are frequent businesses traveler a miles program will be right up your alley. A handy man who is always fixing up his house will do very well with a Home Depot rewards program. On the other side of the spectrum, a busy businesses executive who does not have time for fixer up projects might prefer a rewards program geared towards shopping and restaurants instead.
Use our online resource to compare no annual fee credit card offers from a variety of sources such as American Express, Discover, Visa, Mastercard and Simmons Bank to name a few. In this section we feature only credit cards with no annual fee or at least one year free. We than compare each card according to interest rates, rewards offers, annual fees, as well as cash advance interest rates. We also detail any other features and incentives being offered. We also have many 0% introductory offer no annual fee credit cards to choose from. Lastly, no matter what card your apply too, use it responsibly and your it will be good too you for many years to come.
