Why More Credit Card Offers Means Good News for Consumers

The nice thing about business competition is that it motivates companies to offer more attractive products and deals to attract the greatest number of customers. That same principle applies to the credit card industry these days, and now consumers have begun receiving truly generous offers from credit card companies.
Lower Interest Rates and Balance Transfer Fees

Interest rates are among the most important factors when consumers choose a credit card. Because of the increased number of credit card offers, some companies have begun offering 0% interest rates to potential transferees from other credit card companies. That’s about as low as you can get when it comes to interest rates.

Many credit card companies generally charge a balance transfer fee in order for you to take advantage of the 0% interest rate. Most advice columns recommend that you compute what you pay for in interest and compare it to the balance transfer fee before you shift credit card companies. If the interest payments are greater than the transfer fee, then you transfer your balance to the 0% card. But a few credit card companies have made that kind of math unnecessary, because they’ve also started offering no balance transfer fees too. Now you can start availing of 0% interest rate without having to pay for the privilege.

Better Cash Back Rewards

Cash back rewards are very common these days, and surprisingly they’re getting even better and more attractive. Some companies are offering 1% to 5% cash back—the rates depend on the categories of your purchases. For example, some companies offer 5% cash back for everyday expenses such as groceries, gas, and even drug store purchases.

A few credit card companies even offer a $200 bonus if you spend at least $500 within the first 3 months of holding the credit card. That kind of generosity has never been offered before. What’s more, one of these cards is really great for truly large spenders, because there’s no cap limit for their cash back program. They offer 5% cash back for certain categories, and 1% cash back for everything else. Without a cap limit, you can earn as much cash back rewards as you can in a given year.

Greater Travel Awards

If you prefer travel awards, those programs are getting more attractive as well. Several credit cards are offering rewards in the first year which are worth anywhere from $100 to $500. And though most of these companies charge an annual fee, they are also waiving those fees for the first year.
The offers consumers are now getting are becoming ridiculously irresistible, which is good for them. Experts believe that these offers are the direct result of the decreasing numbers of prime customers, which have caused credit card companies to try harder in enticing customers from one another. But whatever the reason may be, now is the time to seriously consider these offers, as they have become more generous than they ever have before.

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