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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. |
