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When are your credit cards outdated?

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Advance Personal Finance

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The financial markets change rapidly from time to time. These changes directly impact consumer lending. Credit card terms, including interest free periods as well as interest rates are impacted by these changes. If you have had your current credit cards for over a year, it may be a good idea to check the market to insure you are getting the best deals available to you.

Extended interest free periods are a good sign that a credit card company wants to grow their business. The lure of 21 months, 18 months or even 12 months interest free programs can be appealing to consumers. This is especially true of consumers who are contemplating a large purchase and don’t want to pay cash or simply can’t afford to pay cash. A credit card with an extended interest free period can save consumers hundreds of dollars in interest over time. Anytime you are considering a large purchase, check out the interest free periods available thru the large credit card issuers.

Has your credit score improved lately? Simply put, the better your credit history, the better terms you will qualify for. If you have recently improved your credit score, you may qualify for an offer that was not available to you in the past. With a better credit score, expect better terms as well as lower interest rates. You’ve worked to improve your credit, so take advantage of the your hard work and get better terms. These better terms save you money every time you utilize your cards.


*Editorial Note: Any opinions, analysis, reviews, or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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