New Credit Card Apply Best Promotions
Credit cards are complicated possessions to acquire for convenience. Unlike debit cards, credit cards come with multiple terms and conditions and getting one is equally tough.
First of all, it takes a lot of time to get your permission granted for getting a credit card and also it is immensely tough to maintain the usage of the card as well. Such issues mainly arise for beginners.
A credit card comes with multiple conditions based on payment of interests and the purchasing products using it.
It also provides the user with many discounts or low-interest rates or promotions.
Promotions are generally much higher in number when the card is used in the initial days. As a beginner, you will get a lot of offers while using the credit card to purchase things. These discounts come in certain groups like either they are applicable while paying for restaurant charges or on a particular brand if one shops from there or while booking flight tickets, metro tickets, also for booking movie tickets, or purchasing electronics from a certain brand only and a lot more.
These discounts are applicable under certain circumstances with certain interest rates. The period through which these discounts or offers prevail on the selected range of purchases is called the promotional period.
Also, these promotions on credit cards come with many complicated terminologies like the interest applied to use the credit cards are of two types, deferred interests, and zero interest.
If anybody purchases anything during the zero interest promotion period they will pay the interest on the remaining amount of money left to repay whereas if a person uses the deferred interest promotion where they have to pay the whole of the money taken within the promotional period or else interest will be charged on the amount they have spent to buy the thing on the remaining amount of money left to pay. This, in turn, will increase the whole amount of the product purchased.
Deferred interest promotion advertisements generally come with claims like “zero interest if paid within the promotional period” if the word here plays a quintessential role because the whole procedure depends on that.
For example, if a person buys a refrigerator of $400 using the credit card, during the promotional period, they will pay $300 assuming $25 is supposed to be paid per month, so the remaining balance is $100 after the promotional period ends. The rate of interest for zero interest promotion will be 0% whereas for deferred interest promotion it will be 25% as it claimed no interest if paid within the promotional period. The acquired interest within the first 12 months will be $0 for zero interest promotion and $65 for deferred interest promotion. Now the interest which will start after the promotional period ends will be 25% for both zero interest as well as deferred interest. So, in the end, the amount required to be paid will be $100 for zero interest promotion and $165 for deferred interest promotion.
From here it is pretty much evident how paying interest while using a credit card is so complicated, and one might end up paying way more than what they are supposed to do if they cross the deadline of the payment.
Some of the best credit cards providing top promotions are:
- Chase Sapphire Preferred card– provides 50,000 bonus points on purchasing an amount of $4000 in the first three months. Provides 2X points on paying in restaurants dining worldwide. This card comes with zero foreign transaction fees as well.
- Chase Ink Business preferred card- provides 80,000 bonus points on purchasing of an amount of $5000 in the first three months after opening the account. Provides 80K points only as travel rewards. Perfect for business travel purposes because to foreign transaction charges are applied.
- Wells Frago Cash Wise Visa Card- provides $200 cash on purchasing of an amount of $1000 in the first three months after opening the account. This card requires zero annual fees and enables the user to win unlimited cash back offers as long as the account is kept open.
- Chase Ink Business unlimited credit card- provides $500 cash on purchasing of an amount of $3000 in the first three months after opening the account. This card also requires no annual fee.
- Chase Freedom Unlimited- provides $150 cash on purchasing of an amount of $500 in the first three months after opening the account. This card enables the user to earn 1.5 cash back on most of the purchases.