Lowest apr credit cards
Credit cards have become very popular now a day as most of people prefer these cards for making payments. There are many financial institutions and other centers offering different types of credit cards. Competition for acquiring new customers has become very strong and this is the reason why credit card issuers are coming up with different types of offers. As we all know, for making a purchase through credit card, a person has to pay some interest after the grace period or for other transactions. This rate is called as apr or annual percentage rate. lowest apr credit cards are those credit cards that attract lowest interest rates.
In other words, it can be said that these credit cards are the cheapest ones and allow a person to make great savings with respect to other credit card offers. As per the study conducted, it was found that lowest apr credit cards are among the most sought after ones. Through these cards are offered at fixed or variable interest rates, variable lowest apr credit cards are most common. In some cases, apr applied is 0% and such credit cards are called as 0 apr credit cards. It is important to understand here that lowest apr credit cards attract lowest interest rate during the introductory period generally. That is, credit card issuers allow a person to make transfers and purchases at lowest rates during a definite period only and this period is called as introductory period. Introductory period differs from one lowest apr credit card to another and it is from 6 months to 15 months generally. There are also some credit cards that offer introductory period up to a given date only.
Making purchases and balance transfers at 0% is really something great. This is the reason why people are looking for 0 apr credit cards when they wish to get a credit card. However there are certain other aspects that must be understood by a person so that he gets the really cheapest offer. First is the annual fee. It has been seen that some lowest apr credit cards are offered at 0 annual fee while other charge annual fee up to $150. Thus, a person must be very careful about choosing the credit card. Other aspect is the regular apr. After the introductory period, credit card issuers charge regular apr for making balance transfers and for making purchases. It should be tried to select that credit card which offers low variable apr.
This is because if a person wishes to use credit card for a long time, this factor would matter him the most. Other aspect is the different types of benefits and rewards offered. credit card companies offer rewards like cash back offers, extra miles, etc. A person must select that lowest apr credit card which provides him great benefits. For example, if a person has to travel by air very frequently, he can go for air miles credit cards. Similarly, if any person makes purchases through credit card quite often, he can go for cash back credit cards. It has also been seen that there are some credit cards which offer 0% introductory apr on balance transfers only and not on purchases and cash advances. This aspect should also be looked for. It must be understood here that good or excellent credit rating is required for all lowest apr credit cards.
Let us discuss some of lowest apr credit cards for understanding more.
Some lowest apr credit cards
Bank of America Accelerated Rewards American Express Card is one of important lowest apr credit cards. Through this card, a person can get 1.25 points for a net retail purchase of one dollar. It offers 0 apr introductory offer for a period of 6 months and for balance transfers, this is first 12 billing cycles. There is no annual fee applicable and it also provides flexibility in making payment over time. Points can be redeemed for traveling, discounts at hotels, gift certificates etc. Regular apr applicable differs from prime plus 4.9 to 12.99%. For getting this card, good creditscores are required.
Citi Platinum Select Card is also one of lowest apr credit cards. It offers 0 apr on balance transfers as well as purchases for a period of 12 months. There is no annual fee and it also offers citi identity theft solutions. On all the unauthorized purchases, $0 liability is offered. This credit card also provides free and secured online account management facility. Regular apr attached with this card is as low as 7.49% and good or excellent credit is required for applying.
Bank of America World Master Card is also one of leading lowest apr credit cards. It offers 0 apr on all the retail purchase for the first 6 billing cycles. However, 0 apr on balance transfers is offered for first 12 billing cycles. A person also earns 1 point for each dollar spent on making retail purchases and these points can be redeemed for traveling, merchandise, dining certificates etc. There are no black out dates for redeeming points. There is no annual fee charged and absolute fraud protection is also provided. A person needs to have good credit for getting this card.
Capital One Platinum also occupies an important place in lowest apr credit cards. A person can get 0 apr on balance transfers as well as purchase up to October 2009 and there is no annual fee attached. Regular apr attached with this card is 12.9% and good credit is required for applying.
Chase Platinum credit Card is another lowest apr offer available. This credit card allows a person in making purchases and balance transfers at 0 apr for a period of 12 months and regular apr is based on the credit history of a person and other factors. There is no annual fee attached and free online account access is also provided. Regular apr can be as low as 9.99% and good to excellent credit is required for applying.
Discover Open Road Card is also among the leading lowest apr credit cards. This credit card offers cash back bonus from 5-20% at the top online retailers. For other purchases, up to 1% cash back offer is provided on unlimited bases. There is no annual fee attached and online bill payment facility is also provided. Regular apr attached with this card varies from 10.99 to 18.99% and excellent credit is required for applying.
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