Credit card offers are getting more and more lucrative. Most credit card banks or issuers do not mind breaking their bank a little just to get new customers. Although these hit the bank bottom line immediate, it is a good news to people who wish to own a new credit card or change their credit issuers.
I have seen many credit offers and in my opinion the below are the best offers that I came across.
1. Zero Fee. Nowadays many cardholders enjoyed free credit for life. Although this promotion is not uniform around the world, it is still available in many countries. In certain cases, the zero fee is only for a specific period for example first two years. But you can always call the issuers for fee waiver every year provided your account is active and not in default.
2. Discounted Interest rate. Due to constant pressure by the governments and central banks, many countries has practised offering lower credit card interest rates to cardholders. This smart move not benefited the consumers. It also help to reduce credit card account default rate.
3. Zero interest balance transfer. This zero interest balance transfer is an effective tool to snatch other card issuers’ customers over. The offer usually has a timeframe condition attached to it. For example, zero fee for the first six months from the date of balance transfer. It is a great offer that should not be missed.
4. Cash Rebate. This another great offer to credit cardholders. As the cardholders spend on certain merchants during the promotion period, they will get cash rebates up to 2% of the amount. The credit card banks or issuers participating in this program believed that they are able to sell more cards and retain their existing customers this way. Whatever is it, it is good new to the consumers.
5. Discounts. Under this program, the credit cardholders can enjoy discounted price by spending at selected merchants during the promotion period. The discount can be as high as 20%. So keep a look out for these and don’t waste them.
6. Extend Payment Plan. This program offers a option to the credit cardholders to elect to pay big value item by instalment basis without having to incur extra cost. for example, you just bought a laptop at $2,000. You could elect to pay this amount over 6 or 12 equal instalments without interest. Isn’t that wonderful?
7. Free welcome gift. Offering free gift to new customers is nothing new. It has been around for many years. However, these welcome gifts have evolved from a small souvenir to now something very attractive. Some of the free welcome gifts that I have seen include mobile phones, MP4 players, cash vouchers, etc.
8. Contest. Many credit card banks or issuers creating contests to promote spending. The winners’ prizes are quite attractive nowadays. Some of the prizes include cars, LED TV, netbook, notebook, Desktop, mobile phones, cash, tour packages, concert tickets, etc. Usually the cardholders do not need to pay a fee to participate but they are encourage to spend more often in order to increase their chances of winning. A very smart win win program for both parties.
9. Travel insurance. Whenever you use your credit card to purchase air ticket, some credit card banks or issuers offer free travel insurance. Although we hope nothing awful will happen but still this is a very practical and useful offer.
10. Privileges. Some credit cards come with special privileges accorded by the issuing banks on their products and services. Well as long as you could save on whatever you do, it is a great offer.
The above offers are not uniform in every countries. Some of them are only available in certain countries. However, it is a trend in the credit card industry. If the country that you are residing now does not have some of these great offers, it is just a matter of time that they will be there.
