Knowing how to look for low APR credit cards will help you manage your finances easier especially when you are carrying balances in your card.
Customarily, maintaining your balance to zero is the most ideal way in using your credit card, but this seems not possible at all time.
This can be the reason why credit card companies consider offering low interest rate credit cards.
What to Check when Shopping for Credit Cards with Low APR
If you already understood that low APR credit cards are the best option, you also need to know what to consider when looking for the one that will meet your own terms.
Credit Cards with No Annual Fee
No annual fee credit cards are usually attached with low APR credit card offers as an additional attraction. This means that you will be saved from paying the annual fee being charged by the card company for using their cards.
However, you need to specify this option when you are searching online to make sure that it is offered along with the credit card.
Credit Cards with Zero Interest
This is probably the best deal that credit card issuers can offer to consumers. However, there is still a need to read clearly the details of the offer before signing up.
Check on the clause regarding the initial period that the low interest rate is applied. This will ensure that you will not go overboard of the low interest period and be able to avoid having huge billings.
It is also equally important to know whether the low interest is applied for both purchases and balance transfers.
Credit Cards with Rewards
Low APR credit cards may come with great rewards. These rewards can be earned along with your purchases and payments for various services.
Upon accumulation of the necessary points, the consumer can use them in exchange for the rewards or be qualified for cash backs.
The rewards include discounts, gift certificates and vacations. Other credit cards provide rewards when the card is used to purchase airline tickets or buy from supermarkets and drugstores.
Credit Card Benefits
Card companies attach benefits to their credit cards to have better chances of sign-ups. The benefits provide extra values when you are using the card in making purchases.
Other forms of benefits would include accident insurance, motoring assistance and other traveling favors.
What are the Types of Low APR Credit Cards?
Many kinds of credit cards with low APR are available today. The consumers can choose among these credit cards that will extend them the most benefits according to their spending priorities.
Airline Credit Cards
This type of credit cards offer airline rewards. Earning points is through frequent flyer miles that are redeemable for discount in airlines or availing of free night stay in hotels. If you travel frequently, this type of card is for you.
Gas Rewards Credit Cards
When the credit card user is big on gasoline purchases, credit card gas rewards is the right choice. This entitles the cardholder for discounts on gas every time he makes a load.
Balance Transfer Cards
Cardholders with several credit card debts can use this type of card for consolidation. The debts will be transferred to a single card with low interest rate. The consumer will also have an easier way to pay the consolidated debts.
General Rewards Cards
These low APR credit cards type is for people that do not have specific spending requirements. General rewards cards offer discounts for hotel accommodations or airline fares. These cards also provide cash backs and other discounts in some purchases.
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