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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