Low fixed rate credit card
Low fixed rate credit cards are those credit cards that are offered at fixed and low interest rates. When a person is not allowed to make payments for the purchases made and balance transfers done in the interest free period, which is also called as grace period, he is required to pay some interest. Low fixed rate credit cards allow a person in paying lower amounts and thus, are very beneficial for those people that carry large credit card outstanding. If seen with contrast to variable interest rate credit cards, low fixed rate credit cards are found less in circulation and account for about 25-30% of the overall credit card market.
There are many types of sources offering low fixed rate credit cards and a person can easily choose one that suits his needs best. For getting the best credit card offer, it is better if a person makes comparison among all the offers available. Comparison can be made online in an easy manner as there are many types of web sites offering comparison services. Before a person applies for any type of low fixed rate credit card, it is important that he understands some important aspect. First of all, there are many types of benefits and rewards offer by credit card issuers and these must be seen with respect to card usage. For example, if a person makes most of his purchases through credit card, he must go for the low fixed rate credit card offers that provide great cash back offers. Similarly, people who have to fly quite regularly due to any reason should choose credit card with flyer miles program.
Other important aspect that must be understood is the introductory period. Most of credit card issuing companies are offering 0% introductory period in which a person can make balance transfers at 0%. This period can be in absolute terms like up to 15 months or it can be for first defined billing cycles. Credit cards users need to understand here that interest rates charged become important only when grace period is over. If a person wishes to use same credit card for longer periods, it is better if he concentrates his search on low fixed rate credit cards. If he does not mind changing credit cards and is able to make payment in the grace period, he can concentrate on credit cards offering 0% introductory offer on purchases and balance transfers.
Other important aspect that should be noted here is that fixed rates attached with credit cards are generally higher than the variable interest rates. This is because credit card issuer cannot change interest rate for complete card term in case of fixed rate cards and thus, hedges risk through higher rates. However, there have been certain cases where credit card issuers have put important clause in terms and conditions attached and through which they are able to change the fixed rates by providing a notice period of 15 days. Annual fee is other important factor that must be considered at the time of choosing a credit card. It has also been observed that low fixed rte credit cards are generally offered to people having good or excellent credit history. Thus, people with bad credit history may find it difficult to get low rate cards. Let us discuss some of leading low fixed rate credit cards in United States to know more.
Some low fixed rate credit cards in u.s.
Ducks Unlimited World Points Platinum Plus Visa Card is one of leading low fixed rate credit cards in United States. This card allows user in earning world points with all retail purchases. There is no annual fee attached and this card offers an introductory 0% APR for balance transfers for first 12 billing cycles. This card is provided along with 0 unauthorized use liability. Fixed rate associated with this credit card varies from 9.99% to 15.99%.
Major League Baseball Extra Bases Credit Card is also one of leading low fixed rate credit cards available. This credit card is quite popular among baseball fans in United States. After first qualifying transaction, users are provided with official MLB Licensed Jersey. For every dollar spent through this card, user earns one point. Points can be redeemed for cash rewards, one time MLB Experiences, Memorabilia etc. This credit card offers 0% introductory APR on cash advance checks as well as balance transfers for first 12 billing cycles. There is no annual fee attached and regular APR varies from 9.99% to 15.99%.
Bank of America Accelerated Cash Rewards American Express Card is also one of leading low fixed rate credit cards in U.S. Through this credit card, a person can easily earn up to 1.25% cash back on all types of purchases. This card offer is provided with 0% introductory APR on balance transfers and cash advance checks for the first 15 billing cycles. There is no annual fee attached and a person gets great flexibility to pay over a period of time. Cash back can be obtained through statement credit, check or direct deposit into the savings or checking account. Regular APR varies from 9.9% to 19.99%.
Wyndham Rewards Master Card is also one of leading low fixed rate credit cards. Through this card, a person can earn two points for each dollar spent on any type of purchases. For each dollar spent on qualifying Trip Rewards Hotel Stays, a person earns 13 points. Points can be redeemed towards shopping, hotel stays, dining and auto rentals. There is no annual fee attached with this card and round the clock online access is also provided. Regular APR attached with his card varies from 9.99% to 15.99%.
Premier Rewards Master Card is also one of important low fixed rate credit cards. This credit card allows 1% cash back on all the net retail purchases. There is no annual fee but a person has to pay interest at the rate of 19.99% on all cash advances and purchases. There is also no introductory offer available. However, a person gets online access to his credit card account and round the clock fraud protection.
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