Credit Card Deals

Capital One’s TV promotion says you can choose your own features in their “Card Lab”. The ad showing someone busy designing their own card online while they should be doing something else are entertaining and funny. But is the card a good deal? When I chose the lowest fixed rate of 9.9% and $0 annual fee, all the other options became unavailable.  www.mybanktraker.com/credit-cards lists several cards with a 0% introductory rate (which would change to 9.99%-19.99% after the intro period based on your credit rating), $0 annual fee, and some rewards. 

Bank of America has the MyExpression program. This program lets you choose between alumni, charity, organizations, and sports programs. Organizations can be the generic “Nursing” or the specific “Veterans of Foreign Wars” Each sponsor has a different list of products you can choose from. In most cases, you get a credit card with the name or logo on it. Charity cards may make donations to the charity. Sports cards may let you earn VIP passes. The main attraction of this program is that the credit card options are related to the organization you choose. 

Many banks including Bank of America are offering an introductory 0% APR on credit cards. The 0% introductory rate can last up to 15 billing cycles. Promotions like this are a good deal if you want to get out from under a load of debt. You should transfer the debt to a new 0% card, and then all payments during the introductory period will go to reducing your debt. You will also have to stop adding new debt to either card for the plan to work. So cut up the old card if you have to, but don’t actually cancel it. Canceling it may reduce you credit rating