Introductory Period Lengths

There are a few things you need to keep in mind when it comes to introductory periods. First, you must know that the regular rate of interest, or APR, is going to be once your introductory offer expires.

This is the interest that you’re going to have to start paying on any outstanding balance that’s on that card at that time, as well as any purchases you make in the future. This could be higher than normal to make up for all the money the credit card companies are losing. Some even commit the mistake in thinking that the purchases they make within that introductory period stay at 0% forever, and that only purchases made after the period is over are affected. This is a serious mistake that could cost you a lot of money.

Learn The Golden Rule

The first rule of introductory periods is to pay off your debt by the time the offer ends so that you can start anew once the new rate falls into place. Then, you should be able to pay off your balance each month so that you can keep from paying on that interest. Plus, you will have a good relationship with the credit card.

The 0% interest rate on things you buy should never be looked at as an excuse to go on a shopping spree. You can quickly run up the balance on a credit card in a few months and it can sometimes years to get rid of all that debt you’ve accumulated.

If you are building your debt during your 0% introductory period, and it’s because you’re only paying the minimum payment each month, you must be saving some money for when that introductory period comes to an end. Keep in mind that only paying the minimum amount is not a good thing to do. The only reason why you might want to do this is because you’re a cardholder for the purpose of making a single purchase that’s really necessary, and that you know you’ll be able to pay it off right away.

What is Stoozing?

If you’re smart, you can even make some money with your 0% credit card. This is called stoozing. This is where you buy things on the 0% purchases card and then put the cash you would have spent on the products into a high yielding savings account.

This will earn you interest instead of paying interest. This requires self control if you hope to do this, and you must be sure that you’re able to keep tabs on how much you’re spending and then set the right amount to the side so that you can pay off your debt in full just before the introductory period ends.

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

Read the Bankwest Breeze MasterCard terms and conditions.

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.

Further, you must understand how the terms of your agreement will change when the introductory offer expires to ensure it remains the best card for your budget.

Determining the best intro credit card offer can be a challenge. There are all sorts of offers to choose between including balance transfers, low introductory purchase rates, or no annual fees are some of the most popular offers. Within these offers are varying terms that depend on the card issuer and your eligibility.

Remember that the purpose of all of these offers are to get your business and in most cases are temporary. One of the biggest mistakes people make is neglecting to consider the rates their card will have after the introductory period expires.

In order to choose the best intro credit cards for your budget you first have to know what is important to you. To do figure this out examine your spending habits and your financial goals. If you are trying to get out of credit card debt you may want a balance transfer deal. If you have a holiday or big purchase coming up a low introductory rate might be best for you.

If you do not use your card often and prefer not to spend money on annual fees then you might only consider those cards that waive annual fees.

In each of these cases there are terms that apply to the introductory offer that you should consider. You may discover that a specific offer does not actually meet your needs. A good example of this are those no annual fee offers. Whilst some cards actually have no annual fee for the life of the card a great number only offer it for the first year or under certain spending quotas.

If you will not use the card often you will likely no meet those spending quotas and therefore spend money just to own the card. Each consumer has to carefully examine the terms of any credit card agreement to find the one that best meets their needs.

Along with the best intro credit card offer has to be the best credit card for you. Even if you get a smoking hot deal on your introductory purchase rate it will eventually expire. At that point the rate could be so high that you could wind up in serious debt due to interest fees if you do not pay your bill in full each month. We all know that credit card agreements are tedious to read and can be hard to comprehend.

But, only you can protect your finances in the long term by reading everything twice and comparing all options and costs of owning a specific credit card.

The credit card market has grown into an extremely competitive one. With big and small banks, as well as credit unions and retail stores, all providing a range of cards it has become imperative for a card issuer to differentiate themselves from the competition. Some card issuers try to design a truly innovative and useful new card, but few manage to succeed. Instead what has become common is to offer a special feature or deal at the beginning of the life of the credit card.

These offers are known as introductory card offers, and can mean anything from low interest rates on all purchases, a low/zero balance transfer rate, extra reward points etc. for a specified time. In this article we take a look at the best introductory card offers.

The objective of the promotional offers is to get customers to apply for the card. But just because there is a special limited-time deal does not mean you need to get another credit card. The long term features of the card matters, since that is what will have the most impact on your daily card usage. The best introductory card offer for you would be one where you can make good use of the card in the long run, even after the end of the promotional period.

Another factor to keep in mind while comparing the best introductory card offers is the impact on your credit rating. Your decision to avail the card should be based more than just the initial offering, since any card application goes into record on your credit file, and stays there for a very long time.

If you take a new card solely for the introductory period, and never use it again, it will most likely have a negative effect on your credit rating. The best introductory card offer is therefore a positive factor on your credit file.

Here’s a step-by-step guide on how to evaluate the best introductory card offers:

• Understand your spending pattern
• Determine monthly usage level
• Compare introductory features
• Ensure regular terms are within normal range
• Rate features on relevance to your spending style (e.g. if you repay the full balance every month, interest free periods will receive a higher score, while low interest rates won’t)
• Choose the highest scoring card
• Cancel existing or some other credit card if required

Selecting the best introductory card offer is not that difficult. Just follow the steps outlined, and always think long term when it comes to credit card usage.

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?

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

Read the Bankwest Breeze MasterCard terms and conditions.

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.