How to Choose the Best Credit Card Offer

Choosing the best credit card offer from among the near-constant deluge of offers to your mailbox may seem like an impossible endeavor. Take a little bit of time to read and understand the fine print of each card, though, and how its various components stack up against its competitors.
1. Consider the purpose.
The first thing to do when looking for the best credit card offer is to think about what you will be using the credit card for. For instance, if you are looking to do a balance transfer from another card, you would be wise to choose a card with a low APR, or even 0% APR, on balance transfers.
2. Check the APR.
The APR, or Annual Percentage Rate, is the amount you will pay in interest charges per year. Ideally, you would like this number to be as low as possible, but a low APR matters more in some cases than others. For example, if you religiously pay off your balance every single month, the interest rate will not really affect you, and you can weigh a card's APR against other attributes that may be of more importance to you. On the other hand, if you usually carry a balance- especially a high balance- the best credit card offer for you is one with a low APR.
3. Check the grace period.
The grace period is the amount of time that elapses between you making a purchase, and the credit card company beginning to charge you interest on that purchase. An average grace period can range from 20-30 days, but only really applies if you pay your balance in full each month. If you carry a balance, you will be charged interest on purchases as soon as you make them. If, however, you are looking to pay off your full balance each month, the length of a card's grace period would be something you might want to take into consideration.
4. Check the credit limit.
The credit limit is the amount of money you are allowed to borrow. Typically, credit card companies extend high credit limits to those customers with the best credit. They may also increase your credit limit if you have been a responsible customer for a certain period. The credit limit of a credit card will matter most to you if you know that you are needing to make a specific, high dollar purchase, or if you are planning to rely on one card as your financial "safety net" in case of emergency.
5. Check the rewards.
The idea of earning "rewards" for making purchases with your credit card may sound like a great idea, but it's important to really pay attention to the fine print. Credit cards with rewards programs often have higher interest rates or charge annual fees- thus, you must make sure that you will really be using the card enough to accrue the number of "points" required to earn those rewards, or even that the rewards are valuable to you at all. If a credit card is costing you more money in fees or finance charges than the eventual reward program is worth- choose a different card.
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