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CREDIT
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How to Find the Best Low APR
Credit Cards
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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