Best Introductory Offer Credit Card
May 27th, 2010
When you look for the best introductory offer credit card you will have many factors to consider. The first is what your needs are and which offers are best for your budget. The second is the terms of your particular offer like how long it lasts and what your rates will be when it expires.
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
What are the best introductory offer credit cards? That is a question that is increasingly hard to answer. The term ‘best’ is highly negotiable because everyone has a different idea of what it means. When it comes to credit card the one that is best for your budget may be horrible for someone else’s. You simply can’t ask your best friend or co-worker which credit card is best because their needs and spending habits may be decidedly different from yours.
Types Of Best Introductory Offer Credit Cards
Balance Transfer Deals – A balance transfer is when you move the debt from other credit cards over to a new card. These deals allow customers to take advantage of significantly lower interest rates on their previous debt. The biggest issue to be aware of is the term of the transfer rate. If it is not long enough to allow you to pay off your bill you will wind up back at square one when the rate expires. As the term gets longer the interest rate rises, but is still quite low. These cards should only be used for the balance transfer until that debt is clear and not for purchases or cash advances.
Low Introductory Interest Rate – Low introductory interest rates on purchases are an excellent choice if it is near Christmas or you are planning to make a big purchase. It is usually a much lower rate then you would get if your purchased through store credit, so the savings make them some of the best introductory offer credit cards. Just be sure that you pay off the balance before the interest reverts to the standard rate and make sure that rate is reasonable for your budget.
No Annual Fee – There are some cards that offer no annual fee for life, but often the no annual fee is only waived for one year or if you meet a certain spending minimum. Be sure that you get the card that suits your needs. Also, understand that no annual fee usually means a higher interest rate. If you will spend on your card and carry a balance from month to month it may be more cost effective to get pay an annual fee and have a lower interest rate.
In order to choose the best introductory offer credit card you must also understand what introductory means and then what it means for each offer. An introductory offer is a temporary special, like a sale, that card companies use to lure you into doing business with them. These offers can be highly valuable and, based on your situation, save loads of cash.
However, they are only good for a limited period of time, i.e. three months, six months. Because of that you also have to consider what will happen when the special deal expires. In most cases it leads to you, the cardholder, spending more money for certain benefits or interest rates. If those rates are too expensive for you then you must choose another card.
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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