Credit Card Incentive Offers

There’s a lot of competition between credit card companies for your business today. Credit card incentive offers are ways that credit companies make their cards more valuable to consumers.

Credit Card Incentive Offers Vary Depending on the Type of Card

The offers vary according to the type of credit card you’re looking for. Credit card offers for college students may not require a minimum income level or co-signer as incentives; cards for business may offer long term introductory annual percentage rates (APRs), extensive reward programs, and enticing travel incentives, whereas secure credit cards (for people establishing credit for the first time or re-establishing their credit because of poor credit history) may offer approval regardless of credit scores and guaranteed reporting to all three credit bureaus.

Most Popular Credit Card Incentive Offers

Most of us, no matter what our credit score, can choose from a wide selection of credit card incentive offers. Here’s a rundown of a few of the most popular:

• No Annual Fee
• A guarantee from your credit card company that they will never charge an annual fee to your account is one of the most popular incentives available from credit card companies. What’s the reason for its popularity? Many consumers pay off their credit card balances every month and therefore never accumulate interest and are never charged a fee for their account. For these consumers, no annual fee means they have the convenience of a credit card with virtually no cost.


• Low APRs
• Based on their credit score, most consumers look for the lowest APR they can qualify for when it comes to a credit card incentive. Low APRs mean less interest will be charged to your credit balance each month, resulting in a more affordable option than higher interest rate cards.


• Balance Transfers
• Another popular credit card incentive offer, balance transfers let you transfer the balance, or a portion of the balance, on one of your existing credit cards to a new card. Annual percentage rates for balance transfers vary and usually are offered as introductory rates which revert to a higher interest rate after a specific time period.


• Reward Programs
• Many credit card companies offer appealing reward program incentives; and the rewards can significantly increase the card’s value to cardholders. Typical rewards include retail gift cards, frequent flyer miles, cash back to your account, or even charitable contributions.


• Guaranteed Approval
• Generally, a guaranteed approval incentive offer applies to secured credit cards, a card where the consumer must make a deposit equal to the credit limit before receiving it. Because credit card companies have significantly less financial risk when issuing secured cards, it’s possible to guarantee approval of any applicant.


• Three Credit Bureau Reporting
• If you’re at a point in your life when you’re just starting to build your credit history, or if you’ve had problem credit in the past and want to re-establish your credit rating, it’s important to choose a credit card that regularly reports your payment history to all three credit bureaus — Experian, Equifax, and TransUnion. Without this reporting, you won’t be able to build credit even if you have a perfect payment history with your credit card company.