4 Characteristics of the Best Credit Card Deals

Finding the best credit card deals in 2011 is much more difficult than it ever was. Not because there are not many good credit card deals available, but because the world is inundated with such offers, and almost everyone claiming to offer the best credit card deal, and of being far better than countless others.
Instead of being of help, this abundance of choice has paralyzed us. As a result of which we either do not decide which credit card deals to consider and end up having no card, or we get along with a wrong credit card, which in turns make a big black hole in our wallet through which all our earnings flow out.

This is not an ideal situation for you, even if you have stopped paying attention to it because of your frustration. To help you find the best credit card deal that suits your pocket, read this article through the end.

4 characteristics of the best credit card deals

No annual maintenance fee

The best thing in the credit card industry is available for free, still many companies ask for an annual maintenance fee for the credit card usage.
If you do not have any peculiar need, you should not go with credit cards with annual maintenance fee. Look around. There are enough cards with no annual maintenance.

Low rate of interest and free balance transfer

Rate of interest, late payment fee, penalty on non-payment of minimum balance, and cost of balance transfer are the things that should be closely tallied when comparing one card against all other credit card deals.
The card that offers no-cost (or very low cost) balance transfer is the one you should consider going with. Another important thing to look for is the rate of interest on the balance. You should be watchful of penalty as well. Choose the one which offers low interest-rate on dues.

Credit period

Credit period refers to the duration between the first day of your credit card billing cycle and the last day of bill payment date.
Different cards offer different credit period. Some offers 40 days (30 days of billing cycle + 10 days grace) while some offers 50 days 9(30 days of billing cycle + 20 days grace). You should always go with the one which offers a longer duration for repayment.

Zero-cost EMI conversio

These days many credit cards come with one or other kinds of offers. To increase the use of its credit cards, some company even allow you to convert your big-dollar purchase into easy installments (EMI) at no extra cost or interest rates. Look for such credit cards.

Conclusion

There are many more benefits offered by a credit card, but not all of them are as important as the above ones. Do not consider the credit card deals if they fail to meet any of the above set criteria. A credit card that offers all of the above benefits should be given preference to when looking for the best credit card deals.