July 24, 2009
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Finding a Good Credit Card Deal, Pt.1
It's Getting Tough Out There.The average consumer has felt the backlash of Wall Street greed and deception. Somehow the lives of an entire nation were subjected to ruin because of a small select group of predatory, money seeking, narcissistic financial gurus. While living off the hog with billions of dollars in bonuses, the heads of major credit card companies, auto manufactures, oil companies, and insurance companies have been getting fat off their multibillion dollar bonuses. Americans have been falling deeper and deeper in credit card debt trying to manage everyday expenses have caused many to lose a goods night sleep. To survive the rising cost of living the average American has cut back on taking weekend road trips with the family or an occasional movie theater visit. Finding alternative ways to cut gas usage elsewhere in order to visit Grandma and Grandpa has even become concerning. Millions of consumers have maxed out their credit cards just to meet the daily needs of their family.
Credit card companies have already found loopholes in the new legislation aimed at curbing the predatory actions of the financial industry. By setting the effective date of the law to February, 2010, lawmakers handed it to them on a silver platter by giving lenders nine months to step up their predacious activity. While lenders have been slashing credit limits, cutting rewards, increasing balance transfer fees, and instituting annual fees, finding a good credit card deal has been difficult. However, there are some out there and with a little work and time, a consumer with a good credit history can find it.
If you are a first time seeker of credit or struggling with a low credit score, it will be more difficult to secure a good deal. First time credit card customers usually need to accept a less desirable agreement might tempt them to jump on the first deal offered. Although there is a need to accept a card with a lower credit limit or slightly higher interest rate, there is no need to accept a card that is merciless. If you have worked hard to maintain that good credit rating, you have an advantage and also want to do your homework on finding a good deal. Read on for some helpful suggestions on finding the best card deal.