New customer credit card offers are special promotions and incentives provided by banks and financial institutions to attract new clients. These offers may include waived annual fees, lower interest rates, higher rewards, or an interest-free balance transfer.
Understanding these offers, their terms and conditions, and how to choose the right card for you is important before signing up for a credit card.
New customers vs existing customer credit card offers
New customer credit card offers may include waived annual fees, lower interest rates, higher rewards, or interest-free balance transfers. Most banks do not make these introductory offers available to their existing customers.
Common terms, conditions and limitations to be aware of
When considering a new customer credit card offer, it is important to understand the terms, conditions, and limitations. These may include time limits on the offer, such as a promotional interest rate or waived annual fee, minimum spending criteria or balance transfer limits, credit score or income requirements, and restrictions on the type of account or card.
