Which credit card is right for me? It doesn't seem like very long ago when you applied for a credit card offer the only decision that you had to make was if you wanted to go with a Visa®, MasterCard®, Discover®, or a American Express® credit card offer. Well times have changed and now credit card companies are getting very competitive and want to earn your business. Not only can you get credit cards with low interest rates and no annual fees, now credit card companies are offering cash rebates, reward programs and other great credit card perks to get you to put their credit card in your wallet or purse.

In this article, we will be talking about some credit card offers and the perks that credit card companies are offering and the pros and cons of each card.

0% or Low Intro APR Credit Cards - Find the Best Offer

• Ideal for: Any person looking to make a purchase that they intend to pay in full within the promotional period or for anyone looking to pay down existing credit card debt.
• Pros: Most credit cards offer some kind of promotional interest rate on purchases, balance transfers from other credit cards, and/or cash advances. This lower interest rate can save you a lot money in interest costs. This will allow all of your monthly payment to be applied directly to the credit card balance.
• Cons: Unless you get a credit card that offers a 0% or Low Intro APR for the life of the balance the credit card will have an promotional period that usually only lasts for 6 to 12 months. If you transfer a large balance but don't pay it off during the promotional period, that balance will be subject to the standard ongoing variable or fixed rate that was disclosed in the credit card terms. Sometimes this rate can be 12% -15% or higher. Also during this promotional period if you default and make a late payment to this credit card or any other creditor, your interest rate would go to a default rate immediately which can be 28% - 30% or higher.

Reward or Rebate Credit Cards - Find the Best Offer

• Ideal for: Any person who uses a credit card to make the majority of their purchases and pay off the balance in full every month.
• Pros: Most credit cards offer some type of Cash Back, Airline Miles, Rebates, Hotel Rewards and/or Reward Points based on the amount of money you charge on your credit card. For example, some credit cards offer a cash back bonus of 5% or more on your qualified purchase with no annual fee.
• Cons: Sometimes these types of credit cards have higher interest rates and annual fees which can cancel out the reward benefits. Some reward programs can be very complicated and your reward points may expire, making it hard for you to ever use or redeem your reward points. Be sure to always read the credit card terms and conditions very carefully before applying to find out more information your rewards or rebate offer. Most generally the rewards or rebate you will earn WILL NOT justify you paying an annual fee and higher interest rates, especially if you carry a balance from month to month.

Secured Credit Cards - Find the Best Offer

• Ideal for: Any person who has had some credit problems in the past and is looking to rebuild their credit.
• Pros: Most of the secured credit cards report to at least one or more of the credit bureaus. With a secured credit card your credit limit will be equal to your security deposit. So by using a secured credit card responsibly, a person can start to establish or repair their credit rating.
• Cons: You will be required to make a security deposit, most generally a minimum of $200, which will act as collateral for your credit line. Most generally these types of credit cards can have higher interest rates and annual fees. Be sure to always read the credit card terms and conditions very carefully before applying to find out more information about the offer.

Student Credit Cards - Find the Best Offer