Credit Card Competition Means More Offers for Consumers

If you’re on the lookout for a new credit card, it
doesn’t take long to get bombarded with options.
Plastic abounds, and the companies behind the credit cards
want your signature. While so many credit card offers can
make your head spin, there is actually good news in it for
you. The steep competition among credit card companies like
Discover, Visa and MasterCard equals better offers for you,
the consumer. By sorting through your options, you can find
the right credit card to sign up for. Here’s what to
pay attention to as you hunt for a credit card.

New Offers for Customers

Companies are continuing to revamp their cards and benefit
plans to entice more consumers. Earlier this year, Discover
did just that with some of its top credit cards. One of
these is the Discover Open Road Card (which used to be
named the Discover Gas Card). The new version offers 5%
cash back on gas and car maintenance purchases. It also
includes up to 1% cash back on other purchases. Discover
also changed the Discover Miles Card, which is now known as
the Miles by Discover Card. One of this card’s
features is travel without any restrictions. Cardholders
can book tickets through any airline, without the hassle of
blackout dates or advanced bookings.

Additional Perks to Look For

Besides these changes, companies are offering other
benefits to catch the consumer’s eye. Following are
some other perks to think about as you look for a new
credit card:

- No annual fee. With so many cards to choose from, it is
very likely that you can find one with no annual fee. If an
annual fee does come with a card you want, check into the
other benefits. Make sure that they outweigh the yearly
cost before signing up.

- Balance transfers. Do you have a high balance hanging
over you on a current credit card? Some credit cards offer
0% interest on balance transfers for an initial period of
time. This feature could help you reduce debt, as long as
you pay off the amount before the regular interest rate
kicks in.

- Rewards options. Many cards come with a rewards program.
While this is a common feature, the benefits you actually
receive from it can vary drastically. If you want cash
back, be sure to read through the program details
carefully. Some cards only give you a small percentage of
cash back (such as 0.25%) until you have made a certain
amount of purchases.

Also, remember that many rewards programs include a higher
interest rate. If you pay off the balance each month, you
will not be affected by the interest rate. And the rewards,
whether they are travel-related, gas rebates, or cash back,
can add up fast.

Credit cards have come a long way since they were first
issued. Today’s tough competition means that you can
get many attractive features in a credit card. By sifting
through the options, you can find the best deal for your
situation. Whether you want cash back, a low interest rate,
or balance transfer options, there’s a card out there
for you. When you apply for the card, you begin the journey
toward a better credit situation and valuable rewards.

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To Choose a Credit Card click the following link:
http://www.credit-card-surplus.com . Ed Vegliante runs
http://www.credit-card-surplus.com , a directory helping
consumers to compare and apply for credit cards.