What Is a Credit Card Promo Code? | eHow.com

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What Is a Credit Card Promo Code? thumbnail Enter your credit card promo code on your application.

The credit card industry is competitive. Credit card brands frequently flood the market with attractive credit card promotions in the hope of enticing a consumer to sign-up for a new credit card account. With so many offers, knowing which one to choose can be difficult. Before making a final decision, learn about promo codes and how they work.

    • A credit card promo code is a numerical code -- although letters and dashes may also be included -- used by major credit card brands such as VISA, MasterCard, Discover and American Express. Credit card promo codes are typically printed directly on a hard copy or online credit card application. Each credit card product uses its own promo codes.

    • Credit card promo codes function similarly to coupons. When an applicant fills out a new credit card application, he must enter the promo code, which guarantees -- upon approval -- all card benefits are applied as claimed. For example, without a promo code, an applicant is not eligible to apply for cashback rewards or a zero percent introductory rate.

    • Like coupons, credit card promo codes are subject to expiration. Look for a statement such as "Enter promo code #00778. Offer expires January 1, 2012." A credit card company may opt to renew a promo code, but the new promotion may feature fewer card benefits than the original. To avoid losing an attractive credit card promotion, always apply prior to the expiration date.

    • Promo codes can be enticing to a consumer looking to establish or rebuild credit history. From cashback to points and zero annual fees, promo codes promise attractive card benefits to new applicants. Be sure to read the terms and conditions of the credit card as some card benefits may only be applicable during an introductory or probationary period. This can be particularly true for rates and fees.

    • While promo codes are generally offered to consumers who pre-qualify for a credit card, changes in payment history or a significant loss in income can disqualify you from a promotion or credit card product. Think of a promo code as a coupon for a specific set of card benefits, not a guarantee for credit.

  • Photo Credit hand holding credit card image by patrimonio designs from Fotolia.com

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