The Best Credit Card Offers In Years

One year ago, consumers were still finding it difficult to gain approval for credit cards. Today, credit card companies are rolling out the red carpet, offering applicants sky high sign up bonus, ultra long 0% interest rates, and just about everything else under the sun.  Finding a good credit card is no longer an issue, and the deals available right now may be the best credit card offers in history.

Here is what you can expect to find in the most popular credit card categories:

Cash Back Credit Cards:  For a while it looked like cash back credit cards were on the decline. Today, credit card companies are not only offering better cash back rates, they’re also offering $100 sign up bonuses. In most instances, all that needs to be done to obtain these bonuses is spend about $500 within three months of signing up. This is usually not a problem and is as good a reason as any to ditch your old credit card.

Rewards Credit Cards:  General rewards cards are offering even greater sign up bonuses than cash back credit cards. Recently, some companies have floated $500 sign up bonuses. Incentives like these have never been bigger. And, while only two cards have come out with $500 sign up bonuses, close to a dozen airline credit cards offer bonus worth $250 or more.

Balance Transfer Credit Cards:  Last year, a 0% rate on balance transfers that lasted 12 months was a good find. This year, 12 month balance transfer offers aren’t even worth considering. Many credit cards offer 0% balance transfer rates that last 15 months and some even extend low rates for nearly two years. To make things even more enticing, balance transfer fees on these promotions are very low, often only 3% – the same rate charged by cards that only offer 0% rates for 6 months.

Airline Credit Cards: As mentioned above, airline credit card deals are growing stronger every day. As airlines and credit card companies compete to bring in new customers, they have been forced to offer better and better perks. 25,000 miles is almost a guarantee, though more miles are available on some cards. Free bags on flights? You can get a card that offers that.

In many ways, this is the best time for consumers to be evaluating their current credit cards and looking for better offers. Getting a lower rate or a 0% rate can lead to substantial savings on interest, while collecting a $100, $200 or $500 sign up bonus more than makes up for any hassle that might arise from switching credit cards. How long these deals will last is unknown, but if you use credit cards, there is no time like the present to swap out your current card for one with better rewards and rates.