It is generally accepted that there are two types of credit card users; those who pay their balance in full, and those who carry a balance each month. For those who avoid interest charges by paying their total balance each month, earning credit card rewards makes perfect sense, while cardholders that carry a balance should always be seeking the best interest rates. The Wells Fargo Rewards and Cash Back Visa cards try to play both sides of this game by offering some rewards points as well as an introductory financing offer.

New applicants will receive a 0% introductory APR on purchases and balance transfers for a very short six months.  Many other 0% APR credit cards offer intro periods of up to 21 months, and most offer these rates for at least 12 months. During the introductory period, balance transfers will be assessed a fee of 3%, which rises to 5% after it expires. The standard interest rate is equal to the Prime Rate plus 7.9% to 19.9%, depending on the applicant’s credit worthiness.

In addition to the introductory financing offer, Wells Fargo is also granting Rewards card customers one point in their rewards program for each dollar spent. Wells Fargo Cash Back cardholders receive a one cent rebate on each dollar spent. Since their rewards points are only worth .77 cents each as cash back or in other forms, the cash back card is clearly the superior product. However, many cash back credit cards currently offer a minimum of 1% cash back while also providing cash back sign up bonuses, making this a less than ideal option for those who want to profit from their rewards cards. (more…)

When Washington was debating the credit card reform legislation that eventually became the CARD Act of 2009, some called for a “plain vanilla” credit card. This proposal would have required banks to issue at least one card with easy to follow terms and conditions, presumably without rewards for spending. While that provision did not make it to the final legislation, many banks do offer relatively simple cards. The US Bank Visa Platinum Card is very much a plain vanilla credit card offer with a modest introductory financing period and no rewards.

The U.S. bank Visa Platinum is a 0% APR credit card, with a 6 month intro rate on both purchases and balance transfers, although the latter is subject to a 4% fee. Subsequently, cardholders will accrue interest on any revolving balance at a rate equal to the Prime Rate plus 8.74% to 20.74%, depending on the applicant’s credit worthiness. Purchases do not return any cash back or other reward points or miles. There is no annual fee for this card, but this is typical for most prime credit cards that do not offer any type of credit card rewards program. (more…)

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. (more…)

If you’re looking for a 0% APR credit cardto use for your everyday purchases or have a high interest balance on another card that you need to pay off – the Citi Platinum Select Card may be the best credit card for you.  The extra benefits the card offers are probably worth more to the average credit card user than what is earned through credit card rewards, including one of the longest 0% interest rate offers on the market. (more…)

Transferring the balances from existing credit card accounts to a new credit card with 0% APR for balance transfer transactions is an increasingly popular way for consumers to reduce and effectively eliminate their debts. Credit card balance transfers allow card holders to transfer existing balances from other credit cards to the new card, provided that the credit limit is adequate for the balances due.

Once the balances have been transferred the cardholder pays no interest on the new balance for a promotion period of time, generally 12 months. This transfer method allows consumers to eliminate their debts and pay only one monthly bill. Without having to pay additional finance charges, consumers can effectively wipe out their debts within the promotion time period and save money while doing so. Balance transfers also eliminate paying multiple finance charges on existing cards.

Introductory offers for 0% APR credit cards are designed for those with good or excellent credit histories and scores. (more…)