Although we’ve been online since 2004, we’re just getting started with our blog.  And, in honor of Martin Luther King Day, which our president elect has deemed National Service Day in 2009, we thought we would provide visitors with useful information on how to get the best deal on a credit card.

Getting the Best Credit Card Deal

1. Getting the lowest interest rate:  Credit cards generally advertise the lowest available interest rates in bold.  However, almost all credit card companies offer tiered pricing.  With tiered pricing, individuals with the best credit scores are offered the lowest rates, while those with good or average credit will be offered higher rates.  Oftentimes, there is a substantial difference between the lowest advertised rate and the high tier rate.  For example, a typical credit card may advertise a 10.99% interest rate to consumers with excellent credit and an 18.99% interest rate to consumers with average credit.  Unfortunately, no credit card company will tell you your interest rate until after they have reviewed and approved your application (the same is true with credit limits).  Thus, when looking for a low interest credit card, keep in mind the fact that your rate may not be the lowest available. (more…)