Select credit card offers worth weighing
CardHub also highlights best deals for balance transfers:
This card offers a 0 percent introductory rate, and balance transfer fee or annual fee. “eligible” Citicards, and on “qualified” purchases, the consumer can register the purchase and this tool will search hundreds of retail sites for 30 days after the purchase to find a lower price. If a price is at least $25 less than what the cardmember paid, Citi refunds the difference — up to $250 per item. Details at www.citi.com/pricerewind.
This strangely named card is a takeoff on the “It Pays to Discover” ad theme. It’s a no-annual-fee card that also has no other onerous fees — no overlimit fee, no foreign transaction fee, and no fee for your first late payment. The card offers generous rewards — up to 5 percent cash back on certain categories that change throughout the year, a 1 percent cash back on all other purchases, and larger bonuses when purchases are made through its ShopDiscover site. Plus there’s a concierge to help you decide how to make best use of the card, including setting your own monthly payment date.
Fifth Third Duo card: While most debit cards can be used either as debit purchases, using a PIN, or “credit” purchases, by signing the slip, these cards typically access only the money in your bank account, depleting the balance when the purchase is recorded. The Duo card lets you access your established line of credit if you sign for your purchase — leaving the money in your checking account available to pay current bills. If you use the card for credit purchases, you can earn points for every dollar spent.
Finding the best card
You can search several websites to compare cards based on interest rates, annual fees, and the rate and cost for balance transfers.
At www.CardHub.com, there is a tool called “Credit Card Advisor” that will sort through the offers for you, after you fill out an anonymous online form indicating your past credit history. Another tool easily helps you estimate your credit standing, without giving personal information.
At www.Bankrate.com, you can search and compare cards by type, or by your credit score. So if you’re looking for a “secured card” (which allow those with no credit history to build credit), or cards with benefits for students, or cash back rewards, or balance-transfers, you can easily compare features.
Keep in mind that your credit report is impacted not only by the balances on your cards and the number of cards outstanding, but by the length of time you have had your credit card. So you might want to pay off, but keep your oldest credit card to maintain your credit standing while you pay down your balances, save on interest, and earn rewards for the money you do spend. It’s a balancing act. And that’s The Savage Truth.