10.1 Benefits of comparing credit cards

Imagine two people that need new/additional credit cards and are both interested in finding a 0% deal. The first one, we shall call him Mr X, remembers an advertisement for a credit card, thinks it is a great offer and goes for it. He then bumps into Mrs Y and tells her that he has taken out the card from the advertisement because it was offering 9 months 0% on balance transfers and 3 months 0% on purchases.

Mrs Y tells Mr X that she too saw the advertisement and thought the offer was great until she compared credit cards when she found one with 15 months 0% on balance transfers and 15 months 0% on purchases. Now imagine you’re Mr X...

The fact is that every credit card company will make out that their offer is the best one for you and so each offer, when viewed alone, will look very attractive; after all an offer is an offer at the end of the day. However, there is very strong competition between the different credit card providers and you will more than likely be missing out if you don’t compare credit cards to see which one has the most attractive deal for you.

Luckily, comparing credit cards is relatively quick and simple once you know what to look for and where to go, so it is well worth doing.

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