Best Introductory Offer Card
May 26th, 2010
Which is the best introductory offer card? Well, it really depends on the kind of card user you are. Read on to learn how to judge which introductory offer is best for you.
0% interest rates, double reward points and more – with so many credit card introductory offers out there in the market, how do you select the best introductory offer card for yourself?
10.99% p.a.4.99% p.a. for 12 months
Best Intro Credit Card
With the Bankwest Lite Mastercard you will receive a low rate of on purchases as well as on balance transfer as well.
- $69 annual fee
- 10.99% p.a. on purchases
- 4.99% p.a. for 12 months on balance transfers
- Cash Advance Rate of 21.99% p.a.
- 55 days interest free
Credit card use has decreased over the last 5 years, and card companies are doing their best to attract new customers. This means that they offer all kinds of introductory offers to lure in the new clients… but which ones are really worth it? Well, the answer really depends on knowing what kind of card user you are.
Thinking about your card needs
Before you think about selecting a new credit card, be honest with yourself – how do you really use your credit card? Do you mostly use EFTPOS and only use your credit card for shopping online? Or do you do most of your shopping using your credit card? When it comes to repaying your balance, do you pay the balance off in full each month, or do you have credit card debt? Knowing the answers to these questions will help you select the best introductory offer card.
Another thing to keep in mind when selecting the best introductory offer card is the kind of terms and conditions that will prevail after the introductory period is over. Bear in mind that every time you apply for a new credit card, it will go onto your credit file and stay there for five years – so try to minimize your card applications and don’t switch credit cards too often.
Switching between cards too often can have a negative impact on your credit score, while owning too many credit cards will have a similar negative impact if you ever need to obtain a loan such as a car loan or mortgage. So consider the terms that will prevail after the introductory period ends – will you be happy with the long term interest rates and other features available?
When you are selecting a credit card, the regular features should be of importance when you make your decision, since you will be using this card for a long time to come.
Introductory features
There are some common introductory features that are offered on the best introductory offer cards. These are:
- Balance transfer rates – many cards offer 0% interest for 6 months, or a very low (1 or 2% interest rate) for 9 – 12 months. This might sound like a great deal, but do you really have a balance to transfer? If you do, then this might be a good card for you, but if you don’t, then this offer doesn’t make much sense for you.
- Rewards programmes – some cards offer extra points accumulation during the first few months, which can be of benefit if you are interested in a rewards programme. However, a rewards scheme only makes sense for people who do a lot of spending using their credit cards, so consider if this is the right option for you.
Editors Choice: Featured Credit Card Deals
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual fee | Cash Advance Rate (p.a.) | ||
|---|---|---|---|---|---|
 Westpac 55 Day Credit Card | 0% for 5 months (reverts to 19.59% ) | 3.99% for 6 months | $0 | 21.49% |
|
 Citibank Clear Platinum Card | 11.99% | 2.9% for 12 months | $99 | 21.74% |
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