Ask Beau: When Should You Say Yes To A Credit Card Offer

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Ask Beau: When Should You Say Yes To A Credit Card Offer?

I just got a credit card offer in the mail saying I was pre-approved to receive a credit card with a 0-percent APR for the first year. One of my New Year’s resolutions is to pay off my Visa card. Is it a good idea to accept this offer?

First of all, the fact that you got such an offer means you have a good credit rating – so congrats!

And second, the answer to your questions depends on your situation.

Look at the fine print on the credit card offer and identify what interest rate you will be charged after the introductory period is over. It might be much higher than what you are currently paying. Unless you are confident that you can get the balance paid off during the introductory period, you may end up paying more in interest and fees than you would have if you had stayed put.

On the other hand, if it’s a balance you know you can pay off, it might be a good motivator and a great way to hammer down some debt. Be sure to look at the fees. Many roll-over offers charge a fee based on a percentage amount of the transferred debt. Other credit cards that offer no fees to make the transfer may have an annual fee that comes with the card.

Bottom line: Read the fine print before deciding.


Do you have a question about success with money. your business, or life? You can ask Beau anything by visiting and sending your question(s) into RichLife HQ!

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