All About Impulse Buying with Credit Cards

Are you often an impulse buyer? If you are someone who impulse buys with credit cards then you have assuredly learned the dangers of having certain credit cards. You will find that most credit card companies try to perpetuate the impulse buying with credit cards. There are several things you can do to at least counteract some of these damaging effects. For now we will discuss the ability to compare credit cards before you actually choose one for impulse buying. The first rule of course is to never use the credit card for impulse buying, but at least when you compare credit cards before you apply for one you will be able to determine the best credit card for your purposes.

When you compare credit cards there are several things that you need to look at. First to compare credit cards you have to look at the APR. The APR when you compare credit cards may seem similar, but remember there are introductory rates that are offered and some of those introductory offers last longer than others. Right now when you compare credit cards in the UK you will find a lot of them are offering 0% interest for the first twelve months. Some of these credit cards are only offering three months. So right there when you compare credit cards you are finding a significant difference in the introductory period and one will look much better than the other.

Next when you compare credit cards you have to look at the balance transfer rates. While you may not always want the credit card for balance transfers it is important to compare credit cards for your options down the road. After all you may decide that a 12 month introductory 0% balance transfer interest rate is useful if you tend to have an impulse buying issue. You will be able to transfer amounts over for no interest for a certain length of time and pay less on the card. To compare credit cards you have to understand what fee may be applied for these balance transfers. Most cards are offering a 3% fee with the 0% interest on balance transfers depending on the amount. You will find when you compare credit cards that some will actually waive this fee for the first three months along with the 0% interest.

To compare credit cards you also have to look at annual rates. For those who tend to impulse buy having an annual rate can increase the problems. If you find that you don’t want to pay an annual rate there are still some relatively nice cards out there with low interest rates or APR’s. You also have to compare credit cards in the sense of rewards and cash back bonuses. These options usually help you to compare credit cards because you are usually looking for one reward over the other. In other words if you are an impulse buyer you may want great rewards at various favorite shops. This can help decrease some of the balance you have. Also when you compare credit cards you need to look at the flight miles or points you may earn and how quickly you can earn them.

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