Best Credit Card Offers
When deciding on which credit card to apply for, it’s important to consider the various offers available to you. Regardless of the type of card you’re looking to get, lenders have been hard at work providing the best possible offers on the market to entice you to apply. If you play your cards right, you can choose some really great offers and make the most of your credit card application process.
Getting the most out of your credit card often includes taking advantage of the best offers that are currently available on the market. You don’t want to miss out on potentially beneficial offers by being negligent. Staying aware of what types of benefits and perks are available to you is important when it comes to applying for credit cards.
This being said, you don’t want to get lured into a good offer to find out that it will cost you in the long term. High interest rates can often offset the benefits of these offers if you happen to carry a balance on your credit card. This is because lenders often compensate themselves using interest rates. It may not seem like interest rates charge a lot per month, but it really adds up over time.
In this article, we’re going to outline some of the various offers that credit card companies may offer you when you first apply for a credit card. The offers will be divided into categories so you can take a look at what best suites your particular needs.
When people speak of offer categories they normally first think of sign up bonuses and interest free periods. While these initial sign up perks are great, credit card companies also offer long term solutions that can be great if you pick the right one. For this article, we will look at five different types of offers: sign up bonuses, interest free periods, travel perks, low interest cards, and insurance perks.
- Sign Up Bonuses – Sign up bonuses are an incentive that credit card companies offer to prospective clients. This normally comes in the form of frequent flyer or rewards points which can be redeemed for travel or other items. The amount on offer will fluctuate as various deals emerge and expire – you’ll sometimes find that up to 100,000 points are offer from a particular lender. Typically, the top rewards bonuses are at around 50,000 points, so it may be worth waiting for larger sign up bonuses if you’re not in a rush to get a new card.
- Interest Free Periods – This is one of the best offers you can be given. Some lenders will offer you an interest free period of between three and eighteen months. This is a great way to reduce the cost of borrowing, and can help you make an initial large purchase without having to worry about interest. This is also great if you decide to make a balance transfer – in which you transfer your balance on a current card to a new one – as you won’t have to pay any interest on your current balance for the foreseeable future. It’s a great way to pay down your debt.
- Travel Perks – Outside of rewards and airline miles, many cards will offer you travel perks. This includes features such as lounge access, extra baggage allowance, and fast track immigration control. These are great added benefits for those who travel frequently. Take a look at the various travel cards to see what added perks they may be able to offer you.
- Low Interest Cards – In terms of true value, low interest cards are the way to go. This is especially true if you plan on carrying a balance on your account. Some lenders are now even offering people rates below 10% APR. This is incredible given that many borrowers pay up to 25% per annum on their credit cards.
- Insurance – Many issuers will offer you insurance if you sign-up for their credit cards. This may come in the form of purchase insurance, which will provide you with insurance on items of certain value that you purchase using the card. You won’t even need to sign up for the insurance as long you use the card to purchase the product. Other types of insurance include travel insurance on travel that you book using your credit card. If this is a perk that your card includes, you’ll want to make sure that you book all parts of your trip using the card.
What to Look For
You should decide which offer is more suitable depending on your particular needs. If you are someone who uses your credit card often, carries a balance, and needs to save money – a low interest or interest free period card is the best offer for you. If you’re someone who travels very regularly and enjoy the comforts of additional perks, a travel card is probably your best option.
For those who are considering a big trip overseas in the next year, taking advantage of a sign-up bonus is one way to greatly reduce the cost of your upcoming travels. Regardless of the offer you decide to opt for, make sure you go with a reputable lender that has a longstanding track record for customer satisfaction – you don’t want to end up being taken for a ride by a lesser known credit card provider!
Most types of bonus offers come in the form of points. Lenders will give you a large amount of points just for signing up for their card, and you will typically be able to continually earn these points for the rest of your time using the card. But you should make sure to be aware of the true value of your points. Each card provider will have a different redemption system in place that will decide how much value the points truly give the consumer.
You shouldn’t view the point system as a single policy across card issuers. One point at one lender is not equal to one at another. You should make sure to analyze the value of each point in cash terms by seeing what they are redeemable for. Check how much each point is redeemable for in the form of a gift card or flight, this will give you a better idea of how much value you’re getting for the points you receive in the offer, as well as your spending.
Finding the best offers requires you to find the best value for yourself. You should avoid falling for marketing techniques and make sure that the points you’re receiving are worth the cost you’re paying.
Annual Fees Matter
Bonus offers are one of the primary ways that lenders get borrowers to sign up for new credit cards or lending products. But the reality is that these lenders are hoping that eventually they will profit off those who are signing up for these products – otherwise, they would run out of business. But you don’t want to be someone that they profit off extensively, otherwise you’re the one losing out in the long run.
That’s why it’s important to make sure to consider the annual fee. You might sign up and receive a big bonus but find out that a large annual fee is tacked to the first bill of your credit card. This can mean that the sign-up offer is worth substantially less than you originally anticipated. Some credit cards will defer the first annual fee for a year, but this means you will still need to pay it the following year. You can cancel your card before the annual fee is due, but this will look bad on your credit report.
Be Wary of Requirements
You should also be wary of certain requirements that lenders might have for you to receive the bonus on offer. For example, for many sign-up bonuses, you are required to spend a certain amount of money in the first three months of card activation. This amount can often be up to $4,000. For some people, this won’t be a problem at all. But if you don’t typically spend this amount of money every three months on a card, you might want to reconsider.
You don’t want to end up forcing yourself to spend money just to receive the bonus. This will typically negate the amount of money that you are receiving, meaning the bonus will no longer be effective considering how much money you have wasted to get it.
If you pay for your rent or other bills on your credit card, you probably will be able to reach these thresholds. But don’t change your spending habits to get a bonus. There are plenty of great bonus offers on the market that have less intense requirements.
What Kind of Credit Do I Need for a Bonus Offer?
The level of credit that you will need for a bonus offer will depend entirely on the offer that you are receiving. But for the most part, above average credit scores are required to get good rewards cards with good offers. These are typically some of the hardest cards to get. Lenders don’t want to give risky borrowers good offers if they believe the borrower will end up defaulting on their debt at a later date.
If you’re worried that you won’t be able to qualify for one of these cards, check online and look at different credit card forums. Many of them will have posts from past people who will have information on what scores they were accepted or declined with. You don’t want to apply for a card that you definitely won’t get, it will mean your chances of getting a good bonus card in the future are worse.
Always check your credit report before you apply. It’s important that you know what your credit score is prior to an application – it could have errors on it that you need to fix before applying. In addition, pay down as much debt as possible prior to any application. This will allow you to improve your score in as quickly as a month. Both precautions will improve your chances of being approved.
Apply Online for Bonus Offers
You might receive mail in your letterbox about applying for bonus offers – often these letters have paper applications that you can fill in and return. We highly suggest that you don’t use these paper applications to apply for bonus offer credit cards. Firstly, it could be a scam, you never know who is truly sending you mail – they may want your personal information. Secondly, it takes extremely long. Thirdly, put your social security number in a letter and mailing it can lead to your information being stolen by a third-party.
Online applications have removed this hassle and provide a much quicker experience. They also tend to be encrypted by lenders which reduces your exposure to having your information stolen.
Bonus offers continue to be one of the most evident ways to receive substantial benefits from your credit card. New offers are always emerging to help entice consumers into signing up for new cards. But it’s important that you are aware of the best offers available. You can take advantage of some really great deals if you know how to work the system right – there are plenty of Americans who reap great rewards from credit cards because they know how to benefit form a great offer.
We’ve compiled a well-researched list of the top cards available to you as a consumer. Check out the different offers that are currently available. We understand that these offers change, so we make sure to provide you with a list that is constantly updated. It’s a great starting point for researching the best offers available to you as a credit card applicant.
As always, remember to be a responsible borrower. Carrying a high balance on a rewards card is a sure-fire way to end up with mounting debt. Responsible borrowers can take true advantage of some of the best offers in the country!
General Credit Card Offer Questions
This section will cover the basic information you need to know about credit card offers. Use it to get a better grasp of credit card offers so you can move on to more advanced questions.
Why do I get credit card offers in the mail?
You get credit card offers in the mail because the companies obtained your information from a source that indicated you could be a good customer for them. This could be a credit monitoring agency or other financial product.
Do you need to shred credit card offers?
It’s generally wise to shred credit card offers. Doing so helps prevent identity theft and fraud that could cause a headache for your life.
How can you best compare credit card offers?
The best way to compare credit card offers is to look at a combination of rewards and APR. The APR takes any and all fees into account, as well as the interest rate, so it’s a good way to do an apples to apples comparison of the cost of different cards.
Do credit card offers affect your credit score?
No, credit card offers don’t affect your credit score. They may be based on your credit score, but don’t produce a hard check on your credit.
Are pre-approved credit card offers good?
Sometimes yes, sometimes no. You should always research any credit card offer you’re considering to see if the card is good or bad.
Who offers credit cards?
Lots of businesses offer credit cards. Banks, specialized credit card companies, and major stores all have credit card offers for consumers.
What is a pre-approved credit card offer?
A pre-approved credit card offer is an attempt to get you to sign up for a credit card. Pre-approval means that you’re likely to qualify, but you can still be denied based on the results of a hard credit check.
What is a pre-qualified credit card offer?
A pre-qualified credit card offer means that information the company has indicates you’re likely to be approved for the credit card should you apply. However, you could still be denied after a formal application.
What is a pre-selected credit card offer?
A pre-selected credit card offer just means that the company choose to send you an offer based on the information they have about you. It doesn’t have any legal or technical meaning.
What to do with credit card offers?
Usually the best option for credit card offers is to shred them. This will help prevent identity theft and credit card fraud. You can also use them to find a new credit card if you’re considering getting a new card.
Why do I keep getting pre-approved credit card offers?
You keep getting pre-approved credit card offers because your credit score and other financial data indicate that you’d be a good match for the credit card company. You can opt out of these offers if you aren’t looking for a new credit card.
What are prescreened credit card offers?
Prescreened credit card offers mean that the company has reviewed the information it has on you and thinks that there’s a high percentage chance you’ll be approved if you apply.
How to get the best credit card offers?
The best way to get the best credit card offers is to have an excellent credit score and credit history. Companies will get this information and use it to send you competitive products for you to choose from.
Why do stores offer credit cards?
Stores offer credit cards because it lets them make more money. They earn more because you’ll buy more, and they also earn money on any interest your card accrues.
Getting Credit Card Offers
We’ll answer your questions about getting credit card offers in this section.
Why am I not getting credit card offers?
There are many possible reasons that you’re not getting credit card offers. Your credit score might be too low. You could have also signed up for privacy protection that prevents you from getting offers.
How to opt in for credit card offers?
You can opt in for credit card offers by notifying the major credit reporting agencies that you’d like to receive such offers. You can also sign up for offers at websites that specialize in financial products.
How to receive credit card offers?
You can receive credit card offers by contacting the major credit reporting agencies and ensuring that your preferences indicate you’d like to receive offers from companies based on your credit score and history.
How do I get pre-approved credit card offers?
You can get pre-approved credit card offers when you have at least a decent credit score and choose to tell credit monitoring agencies that you’re interested in getting deals from their affiliates.
How to find pre-qualified credit card offers?
Looking at credit card comparison and shopping sites is a great way to find pre-qualified credit card offers. These sites match you with cards that you have a strong chance of getting approval from.
Stopping Credit Card Offers
Sometimes people don’t want to get credit card offers. We’ll help answer your questions about stopping credit card offers here.
How to opt out of credit card offers?
You can opt out of prescreened offers for credit and insurance by calling 1-888-5-opt-out or by visiting www.optoutprescreen.com.
How to stop credit card offers in the mail?
The FTC allows you to stop getting credit card offers in the mail by calling 1-888-5-OPT-OUT or going to the website www.optoutprescreen.com. This will let you opt out for 5 years or permanently.
How to stop unsolicited credit card offers?
You can stop unsolicited credit card offers for 5 years or permanently by calling the opt out service at 1-888-5-opt-out or going to the website www.optoutprescreen.com.
How to unsubscribe from credit card offers?
Unsubscribing from credit card offers is known as opting out. You can call 1-888-5-OPT-OUT or go to www.optoutprescreen.com to opt out of offers for 5 years or permanently.
General Company Credit Card Offers
This section answers questions about credit card offers from more than one company.
Do banks offer secured credit cards?
Yes, most banks offer some kind of secured credit card. Secured credit cards are a no-risk proposition for the bank, since the card balance is secured by your initial deposit.
What banks offer secured credit cards?
Lots of banks offer secured credit cards. Some of the most popular include Bank of America, Capital One, Citi, Discover, USAA, U.S. Bank, and Wells Fargo.
Who offers a joint credit card?
You can add an authorized users to almost any account, but you can definitely get an authorized user card from American Express, Bank of America, Capital One, and Chase.
Who offers prepaid credit cards?
Wells Fargo, Bank of America, Capital One, American Express, and Citi are some of the most popular issuers for prepaid or secured credit cards.
Who offers secured business credit cards?
The Wells Fargo Business Secured Credit Card, BBVA Compass Business Secured Credit Card, Capital One Secured Mastercard, and OpenSky Secured Visa Credit card are the best choices for secured business credit cards.
What banks offer Mastercard credit cards?
Citi, Capital One, Barclay, Bank of America, Citizens Bank, First Hawaiian, and First Savings Bank offer Mastercards. Lots of other banks offer Mastercards as well.
What stores offer credit cards for bad credit?
The best options for store credit card offers for bad credit are Kohl’s, Macy’s, Dillards, TJX, Belk, JCPenney, and Nordstrom.
Which airlines offer credit cards?
Lots of airlines offer credit cards. The most popular are Delta, Southwest, American Airlines, and United. These cards are usually offered in conjunction with a bank.
Who offers the best secured credit card?
Capital One has one of the most popular secured credit cards. It has one of the shortest transition periods to being an unsecured credit card, which means you get your deposit back.
What banks offer student credit cards?
Almost every bank offers some kind of student credit card. That includes Bank of America, Capital One, Chase, BB&T, Wells Fargo, and more.
What gas stations offer credit cards?
Almost every major gas station chain offers a credit card. BP, Shell, Exxon, Chevron, and Mobile are just a few of the most common gas station credit cards.
Specific Company Credit Card Offers
We’ll answer your questions about specific credit card offers here.
Does Chase offer a secured credit card?
No, Chase is one of the few major banks or credit card companies that doesn’t offer a secured credit card.
How to get a Merrick Bank credit card offer?
The best way to get a Merrick Bank Credit Card offer is to go to their site and register for pre-qualification or pre-approval. They’ll review your information and make you an offer if they think you’ll likely be approved for a card.
Does Chase offer prepaid credit cards?
No, Chase Bank doesn’t have prepaid or secured credit cards. The only offer unsecured credit card products.
Does Amazon offer a credit card?
Yes, they have an Amazon Prime store card which gives you 5% back and special offers, you can also get an Amazon.com store card and an Amazon Credit card, the latter of which can only be used on amazon itself.
Does TD Bank offer secured credit cards?
Yes. It’s called the TD Cash Secured card. It lets you earn cash back on purchase while building your credit, making it one of the more popular secured credit cards.
What credit cards does TD Bank offer?
You can choose from the TD Bank Cash Credit card for cash back and no annual fee. They also have a business card called TD Business Solutions, TD First Class Visa Signature credit card, the TD Ameritrade Client Rewards card, and the TD Cash Secured card.
Does Capital One offer virtual credit cards?
Yes, Capital One started offering virtual credit card numbers in May of 2018. These allow you to make online transactions and prevent identity theft.
Does Regions Bank offer a secured credit card?
Yes, it’s called the Regions Explore Visa, and it’s secured by a Region’s savings account. It has an annual fee of $29.
Does Chase offer student credit cards?
Not really. Chase claims that the Chase Freedom Unlimited is their student card, but it requires a higher credit score than most students have.
Does PNC bank offer a secured credit card?
Yes, they have a secured Visa card. You must secure the card through a PNC cashier’s check made payable to PNC bank.
Does IKEA offer a credit card?
Yes, the offer the IKEA Visa card, which will let you get $25 off of your first IKEA purchase with the card. Additionally, it doesn’t have an annual fee.
Does Sun Trust bank offer secured credit cards?
Yes, the Sun Trust Secured Credit Card with Cash Rewards. You can use the card to earn 2% cash back on the first $6,000 you spend on grocery and gas purchases each year.
Does PayPal offer a credit card?
Yes, they have a Mastercard offered through Synchrony Bank. They offer both the PayPal Extras Mastercard and the PayPal Platinum Mastercard.
Does Walmart offer credit cards?
Yes, Walmart offers both a store credit card and a Mastercard that works at stores other than Walmart. The Mastercard gives you rewards of 1% on all purchases you make.
Does Ally Bank offer credit cards?
Yes, it’s called the Ally CashBack card. It gives 2% cash back at grocery stores and gas stations, and 2.2% back if you deposit rewards into an Ally account.
Does Target offer a credit card?
Yes, the Target REDcard is a popular credit card choice for frequent Target shoppers. It has an interest rate of 24.65% and offers 5% off all Target purchases.
Financial Advisor - Best.CreditCard
Michelle is part of our expert team of financial advisors with a proven track record in the credit card industry. After graduating with an Economics Degree focusing on Personal Finance, she got involved with several credit and debt counseling startups.