Contrary to popular notion, credit cards do not have to put a strain on your spending habits. The recession has made a lot of people think twice of getting credit cards fearing that cards might put them in some sort of a trap. The truth, however, is that you can still get yourself a credit card and do away with the fear of being cheated out of your money. This assurance is offered by no less than the best credit card deals.

Compare the APR

The annual percentage rate is the combined interest that you will have to pay for monthly interests of your purchases, mortgages, loans, and other payables. The range of interest rates can be wide—from 0% to 7.5%. You can usually compute for the total APR by combining all your payables and summing them up to 12 months.

Cards with high APRs are not even worth your while, as there are many companies that offer very low rates—as low as 0% percent with benefits, at that. The best credit card deals give this premium advantage to customers like you.

Evaluate the policies and penalties

Credit card companies will have policies that you have to consider before applying. This includes the late payment penalty, which is considered as one of the common penalties in credit cards. For example, what are the penalties for paying your dues one month late? Also a common penalty is when you go over the credit limit. Make sure that you know the company’s policy for this.

Also, check the costs for foreign transfer or balance transfer. These are usually imposed by credit card companies, but are not openly disclosed in their deals. Because of this, make sure that you review the terms of agreement thoroughly.

Rewards and Incentives

The deals also have amazing rewards and incentives for its loyal users. You usually incur points when the credit card is used frequently. These points can then be converted to different items, such as furniture or gadgets. There are also flights and vacation packages generously given by some credit card companies.

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