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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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