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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. |
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