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The Importance of Comparing Credit Card Offers

Jan 22, 2008
When you receive two credit card offers in the mail do you simply assume that they are exactly the same, neither one offering anything more or less than the other? If this is what you assume you are likely paying too much interest on any credit cards that you have and you may also not be taking advantage of all of the features that are available to consumers through their credit card companies.

Why You Should Compare Credit Cards

Consumers should not assume that all credit cards are created equal. It doesn't matter how good or bad your credit is or what you do with your credit card, there is one credit card out there that is better than all of the others for you. If you simply accept every credit card offer that comes in the mail you may not be doing yourself any favors, in fact you may be doing a disservice to yourself.

One reason that you should compare all credit card offers is that you can save a lot of money if you seek out a credit card with a lower interest rate. Many people assume that because credit cards all usually have high interest rates that it doesn't matter, but it does. Just for an example, you may receive two credit card applications in the mail on the same day and you may randomly choose one to apply for and start using.

The credit card that you ended up with features a 26% interest rate but the other that you threw in the trash featured a 15% interest rate and 0% on balance transfers. That is an 11% difference in the interest rates and that adds up when you spend hundreds or even thousands of dollars on a credit card.

You should also compare credit cards before you choose one so you can get the credit card that will do the most for you. Some credit cards are straightforward and don't really offer much to the consumer. Other credit cards will give you frequent flyer miles every time you use it, cash back, free gas, and other prizes.

If you have a credit card that you use all the time, why not benefit from that use? Many people earn hundreds of dollars in cash back credits or earn hundreds of dollars of plane tickets or free gas simply for making their every day purchases. Why shouldn't you be taking advantage of these opportunities as well? You should!

Comparing credit card offers before you accept one or all of them is important. You can save a lot of money on interest and you can take advantage of great cash back offers and prizes in the process. There are many different credit cards out there for consumers to choose from, so do a bit of looking around before you settle on just one to make sure you have the right one for your purchasing needs.
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