I say, maybe that is true. But if you are bent on believing them, think again. Any unclear terms can cause your future finances to turn up-side-down. Here are some considerations for you think a hundred times over before you sign that application form.
Necessity
What are you after the credit card for? Do you want to rack in bonus points with your hotel accommodations or airline miles? Or does a lower APR make sense to you? Or do you want to use the credit card to buy things you can’t afford? Credit cards can be helpful only if you want to improve your overall financial condition; that is, minimize debts while maintaining a high credit score. Otherwise, it provides only temporary financial relief without guarantee of long term financial stability. If this is not your primary reason, getting a new credit card doesn’t make any sense.
Interest rate
If the credit card offers no special interest when compared with your old or existing one, then what’s the point of getting a new one? However, if the card company is willing to negotiate for a lower interest rate, maybe you can consider a new card. Just bear in mind that the average interest charged on credit cards is 15%. Anything not lower than that doesn’t make any sense.
Balance transfer options
Ask your card company if the new offer carries a balance transfer option. If it does, it makes sense if you can switch to a credit card with lower interest rate. If you continue paying regularly, a balance transfer option may work well with you. However, programs like these are not free so be sure to find out how much you will be charged with the option before signing your application.
Credit cards are a helpful innovation but they can also cause a lot of heartaches if not used wisely. The offer should be very advantageous to you before the whole idea of a new credit card could make sense to you.