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U R @: Education Center : Understanding the Fine Print : Find a Good Credit Card Application
FIND A GOOD CREDIT CARD APPLICATION
Although many credit card companies advertise a 0% APR for a full year, most credit card companies offer tiered rates, with 0% rates that can only last as little as 3 months, if at all. When you are completing a credit card application, the key thing to look at is the disclaimer/terms and conditions. Discover, for example, discloses these terms on the application page. Most other credit card companies provide a link that is often difficult to find. The reason for this is simple: they don't want you to see them.
Here is an example of the terms and conditions of a credit card that offers tiered rates. Click here to view in another window. As you can see, this offer provides different rates, based on a review of your credit. Some applicants will get a 0% APR for a full year. Others will get no introductory rate at all. This practice, called tiered pricing, can lead to a lot of confusion, not to mention disappointment. Thus, if you apply for a credit card with tiered pricing, particularly for the purpose of a balance transfer, be sure to wait until your credit card arrives in the mail before using it. You may find that the rate you recieved is much different than the one boldly advertised on the credit card application.
Below, you can compare credit card applications. Before applying, be sure to analyze the terms and conditions to insure you get the best deal. Because Discover offers straightforward pricing with no tiered rates, we listed their offers first.
Credit Card Applications with Straightforward Pricing
DISCOVER® MORE® CARD - BEST CREDIT CARD COMPANY |
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- 0% APR on Balance Transfers for a FULL 12 months
- 0% APR on Purchases for a FULL 6 months
- Editor's Note: Discover is our top pick amongst credit card companies because they have proven to be the most customer friendly credit card company during the past two years. Unlike most major credit card companies, Discover did not dramatically raise interest rates on their customers in 2009 and generated virtually no negative feedback in the past year.
- 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants and more
- Up to 1% unlimited Cashback Bonus on all other purchases automatically
- Turn your Cashback Bonus into bigger rewards by redeeming for gift cards from over 100 brand-name Partners
- Instant Response within 60 seconds
- No Annual Fee
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Intro on Purchases
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Intro APR Period
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Regular APR
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Annual Fee
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Credit Needed
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0% *
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12 Months *
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As Low As 11.99% Variable *
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None *
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Good
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MILES BY DISCOVER® CARD |
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Intro on Purchases
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Intro APR Period
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Regular APR
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Annual Fee
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Credit Needed
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0%* *
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6 Months* *
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as low as 11.99% Variable* *
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None *
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Good
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Credit Card Applications with Tiered Pricing
CITI® PLATINUM SELECT® CARD |
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- 0% APR* on balance transfers and purchases for up to 15 months
- Editor's Tip: See application for complete terms and conditions on 0% rates
- No annual fee
- Citi® Identity Theft Solutions
- $0 Liability on unauthorized purchases
- Secure, free online account management
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Intro on Purchases
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Intro APR Period
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Regular APR
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Annual Fee
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Credit Needed
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0% *
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up to 15 Months *
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As Low as 11.99% Variable *
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None *
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Good
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View More 0% Credit Card Applications
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