If you're thinking about getting your first direct credit card, you may be wondering whether or not it's worth switching to a different provider. There are many reasons why people switch providers. It can sometimes seem like the most obvious choice, but this isn't always the best choice for everyone. Before making the decision to switch, there are a few things you should consider. These things will help you make the best decision possible.
What are your current credit card offers? If you don't already have a balance on one of your cards, it may seem like the only option is to go with a new credit card offer. But what if you currently have a balance but pay less than you want to every month? Or what if you currently have a high balance but pay less than you would on a credit card that requires a balance transfer? You need to consider whether or not it's worth switching.
Do you currently make purchases online? This can be a great way to save money by making purchases with your credit card instead of using cash. The easiest way to do this is to use an online card with a zero percent balance transfer offer. After all, this makes it easy to pay monthly payments without having to remember each creditor's payment schedule. This option should be considered if you typically make purchases online.
Do you travel often? If so, you're going to save money by transferring your balance to a credit card that gives frequent travelers gas rebates and other benefits. In order to qualify, you need to have an active account that has not been charged with a single point since you last transferred a balance. You'll also need to have an active checking account. These will be kept separate from your regular checking account.
Do you frequently make purchases at different stores or merchants? Perhaps you're a mom who likes to purchase diapers and baby wipes in one store. You should look into getting a new credit card that offers frequent savings offers. Many banks are now offering first time no-fee balance transfers to other participating retailers for up to an entire month. Make sure you read all the terms and conditions for any specific limitations before applying for this deal.
Are you currently unemployed? Look for a bank that offers a balance transfer credit card for those who are struggling to make ends meet and need to improve their financial situation. Don't worry about applying for a normal credit card. This type of account will be considered a higher risk, but if you pay your bill on time every month it will still qualify you for a lower interest rate.
How long have you had your current job? If you've just started a new job, you may have a difficult time qualifying for a new credit card. If you're a homeowner you can still get a credit card even if you don't own a home. However, you will most likely pay higher interest rates than people with bad credit histories.
There are many other options when deciding which balance transfer credit card to apply for. Check out several balance transfer cards and determine which one best meets your needs. Some cards will offer you a low interest rate introductory period that is good for a few months. Other cards will allow you to choose from a variety of lenders to find the best deal. Once you find the right card, be sure to make your monthly payments on time and you will soon find yourself enjoying lower interest costs and more benefits.