What to expect at your next credit card offer
Posted On June 16, 2021
If you’re a retailer, you might be able to find an offer to buy a brand new card.
But what if you’re just trying to save some money on your new credit card?
There are a couple of different types of offers available.
The first is a “soft” or “standard” offer.
This is the type that will only apply to you if you apply for it.
This can be a one-time, one-year or a few years from now.
For example, if you applied for a credit card at Target, you would qualify for the standard offer, which gives you the option to get a new card, or upgrade to a card with a lower APR.
If you applied and still haven’t gotten the offer, you’ll still get the $250 credit.
But what if it’s an annual offer?
This offers can vary widely, depending on the annual renewal cycle.
In the example above, if Target wanted to offer a two-year offer, it would give you the $200 bonus and upgrade your card to a three-year card.
Or it might offer you a two year upgrade, or a three year upgrade with a reduced APR.
It’s always a good idea to check with your card issuer if you think a promotion might be available, or to check the terms and conditions on a card before you sign up.
Another common type of offer is a three month offer.
If a card offers this, it’s typically offered at a discounted rate over three months, usually $300.
You can also upgrade your cards over the course of three months at a reduced rate.
This is another type of promotion that can be very tempting if you just need a few extra dollars to pay for your groceries, but it can also be extremely hard to get if you don’t qualify for one of these types of cards.
So if you do apply for an offer, make sure you apply and check with the card issuer first.
If you’re still not sure if you qualify, the best advice is to check your card statement.
If the card is a standard offer and you’re able to get the offer for the full amount of the card, you’re in luck.
But if you get a lower interest rate and a higher APR, you could be paying the balance back sooner than you should be.
Here’s a list of all the credit cards available to you right now and the APR they’ll cost you if they’re offered right now.
If your credit card offers have an introductory rate and you qualify for an annual rate, you can get the better offer by applying in advance.
But you should still contact your card issuers if you’ve applied in advance, as the APR on the offer may vary.