Credit Card Deals Making a Comeback?

What's Hot

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

How a Mexican Tariff Will Boost the Cost of 6 Common PurchasesFamily

This Free Software Brings Old Laptops Back to LifeMore

How to Protect Yourself From the ‘Can You Hear Me?’ Phone ScamFamily

Report: Walmart to Begin Selling CarsCars

Where to Sell Your Stuff for Top DollarAround The House

Is Your TV Tracking You? Here’s How to Tell — and Prevent ItAround The House

11 Staging Tips to Help You Get Top Dollar When Selling Your HomeAround The House

8 Tuition-Free U.S. CollegesCollege

4 Car Insurers That Might Raise Rates Even When the Accident Wasn’t Your FaultCars

21 Restaurants Offering Free Food Right NowSaving Money

20 Simple Hacks to Make Your Stuff Last LongerAround The House

Trump Scraps FHA Rate Cut — What Does It Mean for You?Borrow

How to Invest If Trump Kills the ‘Fiduciary Rule’Grow

12 Surprising Ways to Wreck Your Credit ScoreBorrow

10 Overlooked Expenses That Ruin Your BudgetFamily

During the recession, it's been hard to find credit cards with low rates and good perks. That may be changing. Here are some examples that you can capitalize on.

Back in March, we reported on the surprising news that credit card use was on the decline – 45 percent fewer cards were issued in 2009 than 2008, while debit cards went up by double digits. Perhaps concerned about those numbers, many credit card companies are now soliciting new business – which means you might be able to score a better card.

For starters, interest rates on cards are finally coming down. Last week, the national average was 14.35 percent, a drop from 14.62 six months ago, according to Not much help, especially considering that a year ago, rates were hovering around 12 percent. But it’s a good start – we reported in June that the Federal Reserve asked many card companies to “reconsider” their rate hikes. Somebody must be listening.

So this is as good a time as any to shop for a new card. A few tips:

  1. If you carry a balance, you want the lowest rate, preferably without an annual fee – check out various cards on our credit card comparison page.
  2. If you pay off your card every month, then rewards are more important than rates. Find a card with no annual fee and the best cash-back or rewards.

And speaking of rewards, now that card competition might be heating up, you might find some interesting incentives out there. Example: A new card from Chase recently came on the market called the Hyatt Card, which offers points for hotel visits but also entices with this: “After the first use of the credit card, members will receive, courtesy of Chase and Hyatt, two nights at any Hyatt anywhere in the world which are redeemable within one year.”

Even if you don’t care about this particular card, it’s hopefully a sign of better rewards to come from the competition. One news service is reporting that the Hyatt Card is aimed squarely at American Express cardholders. If true, consumers could benefit from a rewards war.

It may already be starting. The same day Hyatt and Chase announced their new card, two other partners were trying to steal some thunder by promoting a special deal. Owners of an ExxonMobile card can now “fill your plate when you fuel your car.” Here’s how it works: From now through the end of November 30, ExxonMobil cardholders who register at will earn a $50 dining certificate if they buy 100 gallons of gas within 90 days of date registering. That certificate can be redeemed online at more than 15,000 restaurants and online merchants nationwide.

The Discover Card is also trying to get some love and attention, but instead of cutting rates or offering incentives, the company is touting better customer service. Discover Financial Services is launching a national TV ad campaign to get the word out.

“We believe that by featuring our promise to answer calls in 60 seconds or less by real people who are trained to solve problems on the first call, we will continue to differentiate ourselves to existing and prospective cardmembers.” says Julie Loeger, Discover’s senior vice president of brand and product management. “We believe, particularly at this moment in time, that customers are re-thinking what they look for in a credit card partner.”

Hopefully rates, rewards, and service will continue to move in the customer’s direction. That certainly hasn’t been the case thus far this year – check out How Credit Cards are Changing in 2010.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: 10 Best Places to Retire in 2017

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,862 more deals!