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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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