Fixed apr credit card
Fixed apr credit cards are those credit cards that are issued at fixed annual percentage rate. Most of use makes payments through credit cards and if we are not able to make payment in the given grace period, we have to bear some cost in the form of interest. This interest is credit card apr and varies from one issuer to another. Since there are many fixed apr credit cards offers available in the market, a person has to make some research for choosing the best credit card. Many experts feel that best fixed apr credit cards are those cards that allow users to hedge the risk attached with interest rate fluctuations in the best manner.
It is important to understand here that in fixed apr credit cards, interest is charged at same rate throughout the card tenure and thus, it is very important that a person chooses credit card very carefully. Once a person agrees to pay interest at a certain rate, this rate is continued throughout the life of credit card and no changes are made afterwards. In most of cases, apr is denoted in the form of rate payable on annual basis. Apart from fixed apr credit cards, variable apr credit cards are also easily available and in these cards, interest rate is adjusted as per the changing market conditions. Since credit card issuer is not benefited from fixed apr credit cards in times when interest rates are rising, it has been seen that these cards form 30% of the overall credit card market.
One aspect that needs to be understood here is the introductory period. This period allows a person to make purchases, balance transfers etc at fixed rates only for a given period of time after which, regular apr becomes applicable. For example, if any credit card issuer allows a person to make purchases at 0% for a period of 6 months, it means he can take benefit of 0% interest rate in that period only. Afterwards, regular apr up to 19.99% may become applicable. Almost all the credit card issuers are now coming out with different types of introductory offers. Apart from these, various types of benefits and rewards are also offered to applicants for increasing the customer base.
Finding fixed apr credit cards
Finding fixed apr credit cards is not a big problem as a person can apply for these cards online in an easy and secured manner. He can also call the financial institution offering these cards and customer service representatives meet him in no time. However, complete search is necessary in terms of apr, annual fee, introductory offers, rewards and benefits etc for getting the best deal. For example, Arkansas National Bank Card offers fixed apr of 7.92% while Simmons First Card offers fixed apr of 8.95%. Similarly, First Premier Bank offers fixed apr of 9.9%. There are many other credit card issuers too, including regional issuers, which provide low fixed apr credit cards. Best way of getting fixed apr credit cards is to log on to those web sites that allow a person in making side by side comparison. Before a person makes comparison, he must understand that fixed apr credit cards generally attract higher interest rates that variable apr credit cards and thus, he must be prepared to pay that. Let us discuss some of leading fixed apr credit cards to understand more.
Some fixed apr credit cards
Home Advantage Master Card from Bank of America is one of best fixed apr credit cards. This credit card offers 0 apr cash advance checks and balance transfers for first 12 billing cycles. A person can earn one point for each dollar spent in net retail purchase and points earned can be redeemed for travel, cash back, etc. There is no limit on the numbers of points that can be earned by a person. When a person earns 5000 points, same can be redeemed for cash, either directly or to the mortgage. As far as fixed apr is concerned, it varies from 9.99% to 19.99% and depends upon credit rating, income etc. There is no annual fee attached with this fixed apr card.
NASCAR Race Points SM Platinum Plus is also one of important fixed apr credit cards in United States. This credit card allows a person in earning race points whenever he makes purchase and these points can be redeemed for NASCAR collectibles and experiences. There is no annual fee attached and free online access to account is also provided. This credit card also offers 0% introductory apr on cash advances as well as balance transfer for first 12 billing cycles. Regular apr attached with this card varies from 9.99% to 15.99%.
Similarly, Premier Rewards Master Card is one of leading fixed apr credit cards. This card offers 1% cash back on all the net retail purchases made and there is no annual fee attached. Apr attached with purchases and cash advances is 19.99%. Round the clock fraud protection is also provided and a person gets free online access to his credit card account. However, there is no introductory APR offers available.
Another important fixed apr credit card is NFL Extra Points Platinum Plus Visa Card. There is no annual fee and a person earns one point on each dollar spent for net retail purchase. These points are redeemable at NFL merchandise, VIP passes for NFL experiences, tickets etc. 0% introductory apr is offered on cash advances and balances transfer for first 12 billing periods and 100% fraud protection is provided. Fixed apr varies from 9.99% to 15.99%.
Bank of America Visa Signature World Points Rewards is also one of important fixed apr credit cards. It allows a user in getting $25 statement credit after his makes first purchase. There is no annual fee attached and 0% introductory apr is offered for first 15 billing cycles towards balance transfers and cash advances. For each dollar spent on net retail purchase, one point is earned. Regular fixed apr attached with his card varies from 9.9% to 19.99%.
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