In recent times, many American consumers are discovering that credit cards with no annual fee are a much better option. Why? It's fairly obvious the benefits of zero-interest introductory offers on credit cards are amazing. But, they can be very hard to find. In particular, many people look for cards with no annual fee, but the cards they find offer only low-rate APR balance transfers and cash back offers.
You see, while these introductory rates to save you money, they come at a cost. If you don't pay off your balance by the end of the offer period, you will be charged an extraordinary interest rate. In many cases, this interest rate can be double or triple what you would pay if you were to maintain your account at the full interest rate of your credit card company. So why choose no annual fee credit cards with rewards? This is a question many consumers have asked themselves. The answer is simple, if you choose no annual fee credit cards with rewards, you will save money over the long run.
Why do you think credit card companies offer no annual fee credit cards with rewards? The primary reason is that this method of offering rewards to consumers pays for the credit card provider's part in promoting the product. Yes, the consumer pays for the credit card provider's marketing budget. However, the provider makes its profit from the interest rate and monthly fees associated with owning the credit card. This means that, over time, credit card users who pay off their balances using no-interest promotional rates will pay significantly less in interest than those who maintain a balance and pay the balance at the standard interest rate.
This may not make sense to you, depending on how you currently pay your credit card bills. However, you would be surprised at the number of consumers who have a high interest rate and low or no reward credit cards. In fact, this is the opposite of what usually occurs. Often, consumers with no annual fee credit cards with rewards end up paying more in finance charges and lower interest rates than those with the rewards programs.
There are other reasons that issuers of credit cards with no annual fee offer these no-interest finance charges and low or no balance transfer fees. These charges and fees usually offset any savings from not having to pay an annual fee. It can actually cost the credit card provider for more money to provide these types of services to their customers.
This is why credit cards that come with no annual fee and no balance transfer fees should be your first choice when it comes to choosing a credit card with rewards programs. No annual fee credit cards with rewards generally offer the same incentives and benefits that customers pay for with higher interest rates. Still, they are often much less expensive in the long run. This is because the interest on many credit card balances is extremely high.
If you are looking for credit cards with rewards programs that are reasonably priced then this is the type of card that you want to consider. The key to finding one with little to no annual fee and low or no balance transfer fees is to look for a card with the lowest balance transfer fees. There are many options available to you. You may have to search out several, but once you find one that suits your needs best, you can apply online. That way you can avoid all the hassle of visiting each bank and applying.
Applying online for credit cards with rewards programs is a great way to save time and money. When you apply online you are going to find yourself with the fastest turn around time possible. You can also keep a closer eye on your application by monitoring it online. This is because if you make a mistake when filling out your application you will be able to see immediately whether or not you have been approved. This can save you a lot of time, especially if you are applying online often.
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