Low Interest Credit Card

A 0% APR credit card always sounds like a great deal, but there are still a variety of factors that can make one offer stand out above the others. There’s no reason to pick the first offer that comes you way just because the sales letter sounds good.

How Long Do You Pay 0%?

The longer you don’t pay interest, the better, of course. Some offers may give only 6 months or so of freedom from interest, while others go 15 or even 18 months. A long time without paying interest gives you more time to get things paid down.

What Will the Regular Interest Rate Be?

If you’re going to be carrying a balance, the interest rate you will be paying normally matters. It is possible to find a low interest rate combined with a starting 0% APR.

What Does the 0% APR Apply Toward?

If it just goes to balance transfers, you won’t be getting any help with purchases made during the initial period. But sometimes you can get it applied to both, or at least a low interest rate on purchases to start things off.

You’ll also want to know about any fees associated with balance transfers. Sometimes these will eat up a lot of your savings. However, there may be a cap on the transfer fee which can help.

What About Rewards?

If you like rewards cards, some of them offer 0% or low APR credit cards as well. Consider what you want from the card. If you can get good rewards along with no interest to start and a good interest rate, it’s probably a good choice for you.

What Credit Card Issuer Do You Prefer?

It’s not always rational, but sometimes you just flat out prefer one company over another. You may have preferred their service in the past, or just trust the brand. So long as this isn’t outweighed by other factors, there’s nothing wrong with going through an issuer you trust.

Choosing to switch to a credit card that isn’t charging you interest can be a great financial decision. You can save quite a bit of money during the initial period, and get those old debts paid down. There’s a lot to be said for it for just about anyone who is carrying a balance on their cards.

Take the time to research the various cards so that you know which are right for you. Some cards are better than others for a variety of reasons, and the first offer you see is not necessarily the right one for you.

Stephanie Foster blogs at [http://credit-blog.findcreditonline.com/] about credit cards and other money issues. Her site offers 0% APR credit cards for comparison [http://www.findcreditonline.com/0apr.php].

Have you received before a pre-approved credit card offer that sent to you through your email address? If you are not, then you are the lucky one. Most of people who have access to email are receiving dozens of “good offer” from credit card companies. Low-internet rate and higher credit limit are among the good deals in the offers and the best part is: it has been pre-approved to you. Sound good? Well, before you go ahead and accept one. Ask yourself whether you really need it or not. According to the credit card site CardWeb.com, average American household are holding a $10,000 credit card debt. Don’t let you be one of the statistics.

The best way to keep credit card debt down is not to use a credit card. But if you do receive a pre-approved card that intrigues you, at least know what you are getting into before signing on the bottom line:

What interest are you paying? Make sure you understand the interest rate you will be paying for. There are two types of interest rates, fixed-rate annual percentage rate (APR) and variable rates that swing according to the market rate. A better option would be APR because credit card companies have to notify you before raising rates.

The low interest rate being offered is usually only an “introductory rate” which means the rate can – and probably will – increase significantly at the end of the introductory period. This means that balances transferred from higher interest rate credit cards to the new, low introductory rate card could, over the long run, actually cost you more in interest payments. So, be aware of the terms and conditions before you sign to accept the card.

Know that a credit card may carry more than one rate. You may not aware that most of credit cards carry more than one rate. The balance transfer and cash advance normally have higher interest rate. Interest rate shows in the offer normally is the interest rate of your purchases with credit card. Hence, at the end you probably pay higher interest rate if you have balance transfer or withdraw any cash advance with your credit card.

Credit card companies may raise the interest rate if you have late payment. Some credit card companies will immediately raise your interest rate from introductory teaser rate to the regular rate if you are late just one time.

Don’t accept the new credit card offer if fee involved. If there is fee involved with your new credit card, don’t accept the offer. Why pay a fee for a credit card when, with good credit, you don’t have to? If you have good credit, there are many other better offers which you can choose from.

Many of these cards are just preliminarily approved. This means that when you actually apply, the credit card company will reviewing your credit report in full as well as verifying information provided on your application. Terms and conditions may change according to your qualification, such as higher interest rate or smaller credit line. And if your application is rejected, it could cause at least minimal damage to your credit report.

So, in order to protect yourself, you need to carefully read all of the fine print in the offer and, if you don’t fully understand and like everything you read, throw the credit card offer away. Even if you fully agree with the stated terms and conditions, do some calculations to be sure that the lower introductory rate, especially in the case of balance transfers, will actually save you money over the long run.

Cornie Herring is the Author from http://www.studykiosk.com This site is an informational website on credit basics, debt consolidation and bankruptcy. Visit her “Money Matters [http://www.ultimatearticlemarketer.com/financemoneywealth]” blog for more credit related information.

Anywhere you go online nowadays, you will see a multitude of ads for credit cards. Some offer low interest rate for an introductory period, or bonus frequent flyer miles while others offer real discounts on new vehicles and equipment. Trying to find one that suits your needs and lifestyle can be a little overwhelming.

Before you dive on in, ask yourself some key questions about your needs:

1. What is my credit history situation?

The first and foremost question when applying for a credit card is going to be your credit rating. Have you had credit opportunities in the past, and if so, how have you handled them? Did you pay off the balances with timely payments, or did you fall behind? These are situations that your rating will be based on, so plan ahead and you’ll be able to get the best credit card offer that you deserve.

2. What are my plans for the credit card?

If you plan to use your new credit card instead of cash (which is possible in todays world), you might want to look for one with a low ongoing interest rate (APR). This way, in case you don’t pay off the balance within the interest free grace period, you aren’t taxed too heavily with interest fees on the balance.

Or, maybe you only want to use the card in emergencies or special situations. In this case, look for a credit offer without an annual fee or membership dues. This way, you can stash the credit card away and not have to worry about missing any recurring ‘administrative’ fees.

3. Can my lifestyle or hobbies benefit my credit card search?

There are many credit card issuers teaming up with retailers and other businesses in the service industry. The benefit to you is that you earn rebates and discounts towards merchandise, products and services with each use of these “rewards” type credit cards.

For instance, travelers and vacationers might want to get an airline reward credit card that rewards use of the card with frequent flyer miles to use towards free flights and other guest services, or maybe a student might want a credit card that offers free school merchandise and athletic gear.

4. Can I reduce any debts with my new credit card?

Many credit cards offer great balance transfer benefits that allow you to bring most balances over and pay a fixed, low APR until the balance is paid off. These are great because you can consolidate most bills into one payment, saving you alot of money in interest fees.

5. Should I get a copy of my credit report, and if so, should I be paying for it?

This is a big issue going on in the news today. Identity theft and inaccurate credit reporting is a hot button that is circulating around the media and today’s society. Keeping tabs and consistently monitoring your credit report is a smart idea in preventing fraud.

There are many offers on the web to get a copy of your credit report for free. It’s important to read all the information before signing up for anything and make certain to check the company that is issuing the offer. There are only 3 credit reporting agencies in the United States; Experian, Equifax and TransUnion. You can contact and order your credit report from each one individually ($), or go with a reputable company that will get all 3 for you in one report.

In conclusion, remember that part of finding the right credit card for you is analyzing the situation you’re currently in. With so many credit offers out there, you’re sure to find one that can improve your lifestyle or benefit you in other ways. Always read all the information involved and make sure that the website you’re exchanging private information with has a secure certificate (the gold lock) located on the bottom of your browser window.

Good luck finding the best credit card deal.

This articles was written by Gus Garcia, owner of http://www.creditcardChoices.com [http://www.creditcardchoices.com/index.pl?a=credit-cards], a free online service offering information about various credit card offers as well as links to credit card applications.

Click here to see all credit card offers [http://www.creditcardchoices.com/compare-credit-card-offers.html] available at creditcardChoices.com [http://creditcardChoices.com/index.pl?a=credit-cards].

There are a lot of credit card companies out there who would like your business and will offer various incentives to try to get you to sign on. The competition is fierce, meaning you are likely to have little or no trouble finding a low interest credit card. However, as always with a credit card, read the fine print before you send off that application.

Your interest rate will be largely determined by your credit history. The better of a credit history you have, the more favorable the interest rate on your card will be. If you have a few minor problems in your credit history, you might still be able to get a lower interest rate than your current card has. Shop around.

Many people carry a balance on their credit card from month to month. If you are one of these people yourself, you can save a lot of money by switching to a low interest credit card. You can pay off your balance much faster with a lower interest rate. Some companies even offer a 0% rate of interest if you switch your balance over to their low interest credit card. With no interest, you can quickly pay off your credit card.

Maybe you are one of those who always pays the balance on your card before it comes due every month. Even if you are one of these people, a low interest credit card can be very useful to you – after all, you never know when something may come up which prevents you from paying before the due date. If this happens, the low interest rate is a real lifesaver.

Are there any downsides to these cards? The initial term of a 0% card or low interest card will generally be six months. After these six months, the interest rate usually goes up, sometimes by quite a bit. If you manage to pay off all of your credit card debt by that time, you will have done very well with this card. On the other hand, if you are unable to do this, you may wind up paying more than you would have otherwise. This can wipe out the benefits you have gained. Credit card companies will usually notify you that your period of 0% interest or low interest is nearing its expiry, don’t count on this.

Always look over your credit card statement for any errors. If everything looks right, go ahead and pay off the whole balance if this is possible for you. Doing so will save you a lot in payments of interest. Do not pay the minimum payment unless you absolutely cannot afford to pay more. The minimum payment is usually around 3% of the total balance, meaning it will take a very long time to pay off the balance and end up costing you a lot more money in the long run.

If you are unsure of anything, or have any questions, don’t be shy about getting in touch with your credit card company to head off any problems.

Nick Makaryk is an Internet Publisher, Copywriter, and Founder of Best Credit Cards A Free consumer Credit Card Comparison site helps consumer minded individuals find the perfect credit card while avoiding high interest rates, charges, and no fees. Compare all Low Interest Credit Cards from accredited card issuers Visa, Master Cards, Discover, American Express.

You know what you want: a credit card. Finding the perfect one, though, can take some time. In order to get the right card for your needs, it’s a good idea to do some research before you apply. Here are five guidelines to follow to help make sure you choose the best credit card offer.

Know where you stand

You may have an outstanding credit rating, or you may be recovering from bankruptcy. Whether you fall to one extreme or the other (or somewhere in between), there is a card for you. Before you fill out an application, you may want to find out what your credit score is. You can then search for a card that is tailored to your particular score.

Understand how you will use the card

Will you use the card for everyday purchases? If so, consider finding one that will reward you often, like a cash back card. Are you planning to buy a big item, like a car or television? If that’s the case, look for one that will give you a substantial credit limit. If you just need a card for emergencies, look for one that does not charge an annual fee. Whatever the case, think about how you will use the account and then find features that fit into your plans.

Consider your payment habits

Do you always pay on time? Do you often carry a balance from one month to the next? If you usually carry a balance, look for a card with a low interest rate. If you always pay off the entire amount, consider shopping around for different benefits.

Check the APR

This is the annual percentage rate, and if you usually carry a balance, you’ll want it to be low. Many cards offer an introductory 0% APR, during which time you will not be charged any interest. The time will end, though, so find out what you will be paying in interest after the initial offer ends.

Look at the details

Credit cards often have a number of charges or fees attached to them. Check to see if yours will come with an annual fee. Also look at what it charges for late payments and for going over the limit. You may be able to transfer a balance on to the card, and there might be a charge to do so. So read through the details before you apply to get an idea of what to expect.

One of the best places to look for a credit card is online. Credit card websites offer you many options, and make it easy to sort through the selection available. You can even compare cards side by side on your computer screen.

Follow these guidelines and you’ll be able to find the card that fits best into your lifestyle. It may take a little bit of time, but the initial research will be well worthwhile in the long run. You’ll end up with a card that gives you great benefits and suits you well.

Look online today and find the card you need. Once you apply, you’ll know exactly what to expect. And that’s the first step toward making the credit card work for you.

Click Here to Choose theBest Credit Card Offer for You!

Stephanie Andrews is a contributing editor of the website http://www.CreditCardCity.com , a credit card directory where you can apply for a new credit card with secure online applications. Visit now to compare all of the best online credit card offers.

If you have a low credit rating, you will most likely not be offered an unsecured low interest credit card. This requires faith on the part of the card company that you will repay your debts on time. People with good credit are able to get these cards because their credit history shows that they have been capable of paying on time in the past. If you have good credit and plan to continue making timely payments, then you will probably qualify for these low-interest cards.

Credit cards can be very useful, especially in emergencies. Today, many places will not accept a personal check, so you can use your card instead of carrying cash. If you are looking for a card, focus on a low rate, rather than the special rewards programs included with some credit offers. If you are able to qualify for a low rate, this can save you a lot of money. Compare all of the credit offers to find the one offering the lowest interest and fees.

One such low interest credit card is the Chase Platinum Credit Card. It offers a zero percent introductory APR for the first six months you have the card, and has no annual fees. The Chase Travel program allows you to earn points towards travel, including hotel stays, flights, cruises, or car rentals. This program also offers travel insurance, making it a good option if you travel frequently.

Other programs allow you to earn cash rebates on your purchase. The Discover Platinum card also offers a zero percent introductory APR with no annual fees. Its rewards program includes up to 2 percent of your purchases back as a cash rewards. A few even offer up to 5 percent cash back on certain purchases.

The Bank of America Visa Platinum card has a fixed APR of 8.9 percent for balance transfers. It offers a high credit line, and has no annual fees.

Before signing an agreement for any credit card, make sure you read the Terms and Conditions. These will outline all of the interest rates, fees, and rewards programs.

If you are having trouble getting approved for a credit card, you might want to look online for a card offer available to you. There are some high-risk cards that will be available to people with bad credit, but these of course will have high interest rates and fees. Beware of these cards especially if you are into debt elimination program If looking for a credit card online, make sure you use a reputable source. There should be a lock and key pictured at the bottom of the page, or the URL should begin with https://.

If you are running a small business, you’ll want to look into a business credit card. The Advanta Platinum Business Card has a low introductory rate and 0 percent on balance transfers. The line of credit is up to $50,000, and there is no annual fee. However, after the introductory rate has ended, the interest rate becomes 7.99% fixed rate. Although this is low, other cards may be even lower. There are many options for business credit cards; as with personal cards, be sure to read the Terms and Conditions before signing an agreement.

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If you are looking to add a new credit card to the collection in your wallet, look no further than Bank of America. Bank of America credit cards come with a Visa or Mastercard logo, so they are accepted everywhere. They offer a wide selection of programs to fit virtually any need. You will see that they offer a low APR credit card, as well as programs that allow cash advances.

Try a low APR credit card for big savings

APR refers to the annual percentage rate of the money you are charged to use the credit card. This is also called the interest rate. Interest rates can be variable or fixed, so you will want to check each low APR credit card offer to determine the status. The interest on a variable-rate card can be based on changes in the prime rate. This means the rate you are charged would be the prime rate plus an additional percentage added on. The prime is the interest rate charged by banks.

Bank of America provides several credit cards that offer a zero percent interest rate for an introductory period. This is usually six months after your application has been approved, and may be applied to purchases or to balance transfers, depending upon the terms of a particular offer.

How can credit cards help me with cash advances?

During introductory periods of certain Bank of America [http://www.consumercreditoutlet.com/card/bankofamericacardoffers.html] credit card offers, the card holder is offered a zero APR on not only balance transfers and purchases, but it can also be applied to cash advances. You may borrow a certain amount of money based on the line of credit you are offered.

This money can be used in any way you wish. Cash advances offer the convenience of a short-term loan without the hassle of going through the process of obtaining it through a bank. However, if you do not pay the balance in full by the end of the monthly grace period, you will pay interest on the outstanding balance, so the cost should be compared to the benefits. Entrepreneurs sometimes get money for the start-up costs of their new businesses through cash advances, so in some cases, it does make sense..

Not only does Bank of America offer a low APR credit card [http://www.consumercreditoutlet.com] as well as a cash advance [http://www.consumercreditoutlet.com] program, but many of the cards offer special rewards. They can include travel points, cash back on gasoline purchases or other specified purchases, or discounts on hotel rooms, merchandise and gift certificates.

Susan Slobac is a personal financial advisor. She educates clients on comparing low APR credit card and rewards programs. She specializes in helping individuals improve their credit rating and build assets.

Most likely on nearly all days when you check your mail, your box is swarming with offers and applications for credit cards. How do you know which companies are presenting you a good deal, and won’t take over your wallet with excessive finance charges and hidden fees in the future?

If you complete an offer online, make sure the site is secure to guard your personal info. This is the fastest way to be approved and you usually have an answer within hours. When completing an offer over the phone, do not give out any personal info, such as your social security number to anyone that you did not apply for information from first.

If you obtain a pre-approved offer, your response is required simply to make sure that you are the individual that the offer was sent to, and not someone that happened to see it in your trash. Identity theft is a real problem and any offer you receive that you choose not to reply to should be destroyed before disposal.

These pre-approved offers are usually very short and take a small amount of time to finish. You can either confirm online, phone, or return the offer by regular mail. Offers are made to be very easy and hand.

Many credit card companies have excellent offers, such as 0% or very low interest for a limited period of time, such as six or twelve months. This is where reading the fine print comes in.

All credit card offers contain disclosures regarding what interest rates will be after the original promotional period is over, how it is figured, what annual fees if any are charged, late fees, and grace periods. Many of these offers are great, and if you don’t have a huge amount of debt, this could be a fine way for you to pay off your existing cards in a short time.

Other confines also apply, concerning balance transfers, cash advances, and offer expiration dates. Be sure to evaluate offers, read all of the fine print.

If you are looking to restore your credit, you will most likely have to pay more interest at first, but as your credit gets better, the interest rates will decrease as well. Shop around to make a informed decision, and stay away from bad credit card companies. You will without doubt end up paying more in the long run, which defeats the reason of why you applied for the card in the first place!

About the Author: Bobbie McKee specializes in providing a comprehensive list of the latest credit card offers. You can search for Credit Cards For First Timecredit Card Holders [http://www.applycreditcardnow.org/] or you can choose from over 130 credit card offers [http://www.applycreditcardnow.org/category/low-interest/]. Full permission to reprint this article is given provided this box is kept unchanged.

One day I got a call from my credit card company asking me if I would like to increase my credit limit by borrowing up to $9000 at their special rate of 15.9%.

The operator stated, “Your credit card rate will then be a low 15.9%. How much would you like to transfer today to take advantage of this offer? Do you have any high interest loans you would like to pay off and reduce your payments?”

The previous day I had called them to get two bogus late payment charges taken off my statement. I also had to get my interest rate lowered back to my usual rate rather than the “penalty rate” (22.9%) they charge to anyone who is late, misses a payment or goes over their credit limit.

Wondering if my rate got changed back to my usual rate, I asked the operator what my current rate was. She said that it was at 12.9%, which was my usual rate for this card.

I do carry some debt on other cards (it helps with my credit rating to be making regular payments) but all the other debt I have is at lower rates than this card. I mentioned that I had no other debt that was at a higher rate than what she was offering.

She then replied that I could just take the money as a cash advance and do whatever I wanted with it.

So I asked her if I understood correctly what she was offering. “So you are offering to raise my interest rate if I get further into debt by getting a cash advance?”

“Yes, you can have up to $9000 and do whatever you like with the extra cash,” she replied. I was amused that she said that I could “have” not “borrow” the money and it would be “extra cash” rather than “additional debt”. But after all, she is in sales and the words “have” and “extra cash” are much more enticing than the more realistic alternatives – “borrow” and “additional debt”.

I politely told her that I was not interested in raising my interest rate or borrowing more money, “but thanks anyway.”

I then wondered how many other people would jump at the opportunity to pocket a quick $10,000 at the “low” rate of 15.9%.

I was also amused that she encouraged me to pay off my high interest debt with this money. Well, to my standards 15.9% is high interest debt. Granted it’s not the 24-25% charged by department stores but still it was more than I was currently being charged on any of my other cards.

Shouldn’t an offer that would appeal to me be one that offered me money at a lower rate? Her offer seemed backwards. She was trying to entice me with the vision of “extra cash” in my hand to do whatever I would like.

I took a moment to do some financial math (the most important kind) on this offer and found that if I had a current balance on that credit card of $4000 at my current interest rate of 12.9%, I would be paying about $43 a month in interest charges.

If I had accepted her offer for an additional $9000 at 15.9% (and I suspect that my regular rate of 12.9% would have risen to the 15.9% rate also), I would be paying about $172 a month, exactly 4 times what I am currently paying. If I made a payment of $200 a month to pay off this debt, I would be paying for over 12 and a half years.

What I learned from this experience is that I should get into the credit card business. Maybe I’ll check on some bank and financial institution stocks today. With offers like this they must be making money.

Once again, those who understand interest earn it, those who don’t, pay it.

David Berky is president of Simple Joe, Inc. One of Simple Joe’s products is the Debt Eraser PC software which helps anyone get out of debt quickly and inexpensively by creating a Rapid Debt Reduction Plan. To learn more vist [http://www.simplejoe.com]

Credit card offers, including a variety of low interest credit cards, are easy to find. You hear about credit cards in discount stores while you check out, you read about credit cards in offers that come in the mail, and there are even times when you hear about credit cards when the phone disturbs an evening meal. It’s easy to get a credit card, but it may not be as easy to find low interest rate credit cards.

Many of the easiest cards to get will generally have a higher interest rate. It may be a common practice to compare insurance rates and look through several car lots for the perfect vehicle, but if the same thoughtful research were applied to credit card offers, you could see significant annual savings.

Practicality of Low Interest Credit Cards

Low interest rate credit cards are an important tool in keeping excess consumer debt from tying you down in future financial affairs.

Some of the low interest credit cards that provides very few frills are found in the Visa® or MasterCard® offers, yet the offers last for a limited time. The fixed interest rates on these cards is among the lowest available. The credit cards were developed for those with an excellent credit history. Since the rate is one of the lowest available, proof of income and a tax return or pay stub are required to verify eligibility. An annual fee of $35 is charged to customers, but the significant decrease in interest rates may offset the additional fee. If you have good credit and excess consumer debt this may be one of the better low interest credit cards to consider.

Frills, but Low Interest Rates

For low interest rate credit cards with a rewards program, you might consider some of the American Express® card offers. This credit card does not charge an annual fee and provides an introductory 0% introductory rate for up to 15 months. The ongoing APR’s are very competitive and comparably low after the introductory rate expires. Many consumers appreciate the “Smart Chip” that provides online security for cardholders. Customers have also voiced appreciation for immediate notification of approval when applying online.

Americans are fond of cheap credit cards, so credit card companies are responding with low interest rate credit cards that respond to the spending habits of consumers.

Points of View

If you have significant consumer debt, but you also have good credit, you might want to consider some of the very attractive Visa® or MasterCard® offers that are available to help minimizing annual consumer debt. This is true even when the annual fee is factored into the equation.

If, however, your consumer debt is moderate, then a card like Blue from American Express® may provide a low rate with no annual fee and a rewards program that provide benefits with every future purchase.

Overview:

Low interest rate credit cards offer a benefit from the very first day. With many companies offering a 0% introductory APR you can pay down debt more rapidly. The savings will far outweigh the time you take in reviewing offers and checking all applicable fees and services.

If you have good credit, there is no reason to accept a high interest credit card unless it provides a desired acceleration in bonus rewards. Just be sure to pay off your balance as quickly as possible if this is your choice of credit options.

For more information on finding the very best low interest credit cards, Robert Alan recommends that you visit CreditCardAssist.com