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Posted by in Credit Cards, Credit Cards for Bad Credit

Low Interest Credit Cards

Low Interest Credit Cards

Low interest credit cards are particularly suited for people who carry a balance month to month. These cards from different banks and issuers offer some of the lowest interest rates for purchases and balance transfers and can feature either a low fixed rate APR or a low introductory APR.

A low interest credit card is recommendation with other card benefits if you finance your large purchase, or you desire to use a balance transfer to pay off higher interest loans.

Low interest cards can be an excellent deal, because in addition to long-term low rates, many offer a great introductory rate, typically ranging from 0% to 4.5% annually. The introductory rate may apply to balance transfers, purchases, or both, and it will extend from six months to more than twelve months. After the introductory period, the interest rate on low APR cards typically ranges from 4.5% to around 11.5%.

When comparing low APR credit cards please read the terms and conditions carefully and then count all of the above components to find the credit card that best fits your needs. To qualify for a lowest interest credit card, you will generally need good to excellent credit rating.

Regardless of your situation you can still find a low rate credit card that fits your profile. You may even find that your existing card company will lower the rate on the card you have, rather than lose you as a customer.

Pay off your balance before the end of the month you may instead be interested in American express credit card

Two types of rates on low interest credit cards: fixed and variable. If low interest card has a fixed APR rate will for the most part remain the same.

Credit Card Company may still change the fixed APR rate but they will notify you in advance. With a variable APR the rate on low interest card is normally related to the national prime rate; when prime rate changes variable APR the rate may change. Carrying a balance of fixed rate is often the best way to work with. To transfer a balance looks for credit cards with 0 APR introductory rates on balance transfers.