How to
Find the Best Low APR Credit
Cards
by:
Morgan
Hamilton
Low APR credit cards are
much more prevalent than in
years past. Competition is
stiff and credit card
financial institutions offer
many nice perks, rewards,
points, low annual
percentage rates (APR) and
other inducements. They want
to capture new customers
who've never had a credit
card but also those who
already have a credit card
and might like to save money
by transferring that card's
balance on to their new low
APR credit cards.
Of course, there is
nothing lower in an APR than
zero - and those exist too,
although sometimes for a
limited time period. It may
be that the lowest, or even
the zero percentage APR is
for an introductory period,
after which the rate is
higher. The permanent APR is
what you want to watch out
for, of course. Although if
you're not opposed to doing
a lot of switching, you can
always purchase a low APR
credit card, or zero
percentage APR credit card,
transfer the balance from
your current high APR credit
card, and then, once the
introductory time period has
expired and the APR is about
to go up on your newest
credit card, transfer the
balance yet again to a brand
new low APR credit card.
Let's look at a few of
the low APR credit cards out
there, so you know what
kinds of options are
typically available to you.
Citibank, for example,
offers low APR credit cards
that give you five percent
cash back on any purchase
you making at grocery stores
and gas stations with your
low APR credit card, and one
percent back for any
purchase elsewhere. The APR
on transfers is zero for the
first year. If your transfer
transaction is at least
$1500 you will earn $5 cash
back with the low APR credit
card. There is no annual fee
and the APR after the first
year is 12.24 percent.
Discover has a platinum
clear card whose low APR is
continual. The first year
the APR is zero, but after
the first year it's still a
very competitive 9.99
percent. And there is no
annual fee. With these low
APR credit cards you earn a
five percent cash back bonus
on purchases made from
hardware and home
improvement retailers,
restaurants, book vendors,
and gas stations. If the
retailer doesn't qualify you
for the five percent
discount you will always get
one percent back no matter
what you buy and from where
with this low APR credit
card.
Chase Bank offers low APR
credit cards as well. Its
zero percent APR is good for
six months, after which you
will pay 10.49 percent.
These low APR credit cards
have no annual fee, and
offer rewards at the rate of
one point for every dollar
spent with your Chase card.
You can get free airline
flights and hotel rooms, as
well as cruises and auto
rentals. This card also
provides $500,000 worth of
travel insurance for
worldwide vacationing. You
can also take advantage of a
fifteen percent discount off
a Hertz car rental with
these low APR credit cards.
|
