Some introductory offers come with specific requirements in order to qualify, and some are offset by a card’s ongoing rewards, rates and fees, which can be less appetising. In this guide we break down everything you need to know about introductory offers and gathered cards with promotional deals.
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Read the full methodologyMost intro offers are only available to new customers who apply and are approved for a specific credit card during the promotional period. These deals usually offer extra value to you in the form of a lump sum of reward points or an elevated points/cashback/air miles earn rate for a limited period.
The biggest rewards usually come in return for an annual fee. This puts some people off straightaway, but it’s simply a question of doing the maths – if you’ll earn enough rewards to justify the spend, then the fee can be worth paying. Cards with an annual fee typically come with other perks too, like complimentary travel insurance or airport lounge access.
As you’d expect, the benefits of sign-up offers only last for a limited time. You’re generally not tied in to these deals, so there’s nothing stopping you from just using them while the going’s good. However, some card issuers will try to retain customers by offering anniversary bonuses or by negotiating with customers who request to cancel their card. American Express frequently offers an enhanced earn rate once your spending amount on the card has reached a specified threshold.
If you don’t expect to clear your balance in full each month, then generally what you’ll end up paying in interest will outweigh the potential earnings. But if you expect to use your card a fair bit and to clear your balance in full each month (don’t forget you can set up a direct debit to do this), then this guide can help you to capitalise on reward points, cashback or air miles to make your money go a bit further.
Crucially, don’t forget that when it comes to credit cards, there’s a good chance that the best deal for you right now probably won’t be the best deal in a couple of years’ time.
You usually have to meet specific requirements to get your hands on an introductory offer on a credit card. These conditions vary but usually include the following:
Before you apply for a card, make sure you fully understand these terms and conditions to ensure you can get the full value from the offer.
While credit card introductory offers can help you get more value from your card, there are some mistakes to avoid to ensure the card costs don’t outweigh the offer’s benefits. Here are some of the common mistakes cardholders make and how you can avoid them:
Introductory offers have the potential to provide you with more value when you get a new credit card. While almost anyone can benefit from these deals, the value they provide really depends on your individual circumstances.
It’s also important to remember that this card’s benefits only last for a set amount of time before reverting to the standard features. So being aware of how credit card offers work and considering both the introductory offer and the ongoing card features means you can choose a card that offers you value now and in the future.
Use our calculator to find out how long it would take to clear your credit card balance by making the minimum required payments vs paying a fixed amount each month.
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