With credit card deals, it is easy to get caught up in the hype. The best credit card deals all offers free airline tickets, cash back rewards on many purchases, or even free gifts. It can be hard to resist the allure of such great offers, but before entering into any financial contract, you need to know what you are getting into.
The best credit card deals most often include some type of introductory or “teaser” APR (Annual Percentage Rate), usually for one to twelve months. The best credit card deals come with 0% APR for as long as eighteen months, or even longer. However, the deals change frequently, and only the best credit card deals can be found for a short period of time. The terms will vary, but a good credit card deal will be well worth the price.
If you are not sure which is the best credit card deals, you should consider how long it will take to earn the reward. For example, if you use your card to make a purchase of a dollar or more each month, you can expect to earn rewards points that can be redeemed for airline tickets, department store items, gas rebates and so on. The more you use your card, the more points you can accrue. At the end of your introductory period, you will again be charged interest on your balances. Some cards will offer a low or zero APR for the first full year, but others require a minimum balance (usually around $500) before you will receive any rewards.
In recent years, credit cards issuers have offered some pretty attractive deals to attract new cardholders. The most famous was the $50 rebate on all purchases. This was a huge incentive for most consumers, since most American cardholders spent less than this every month. However, the new Visa Signature card from Bank of America is one of the best credit cards around.
The Visa Signature card offers a special two-year offer that has no annual fee and gives you a high reward mileage program. The welcome bonus is a special credit card number that you can use anywhere Visa is accepted. You will have no annual fee and earn unlimited rewards on every purchase you make. These rewards can be applied in your account as cash or transferred to your account using your credit card.
These bonuses are applied to your first three months of purchases. After the third month, you will earn the standard APR credit card rate on all of your purchases plus the welcome bonus. The welcome bonus amount varies but typically tops out at a maximum of twenty-five percent. The rest of the time, you will pay normal interest rates.
Bank of America does not just limit the number of purchases you can make; they also limit the amount of cash that you can earn. This means that you need to make some very good choices when it comes to choosing your Bank of America credit limit. In the past, Bank of America has offered their best credit cards deals to individuals with good credit scores, but they are now offering them to everyone.
For those of you who plan on making regular purchases that pay off your credit card balance every month, you may want to consider the flat rate rewards card. Since you won’t have to worry about paying off an enormous balance each month, you will have more cash left over to do other things. These are just some ideas of what you can expect from Bank of America, so if you want to learn more about the best credit cards, be sure to take a look at their current offers.