How will a late payment tell on my APR? I have applied for a low interest credit card. Will I get default APR applied to my account immediately?

Answered on August 05, 2010
Updated on August 05, 2010
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
A low interest credit card is an asset worth putting effort into. Default APRs, late payment fees and other measures imposed by issuing companies should and do work as incentives to make at least minimum payments on time. According to new rules default rates can be applied only to accounts that have been over sixty days late. Yet one late payment though not causing too much damage, will mean a fee, and it will be recorded in your credit history. It can tell on your interest rates not just on that credit card, but possibly on other accounts you have. So, make sure you manage your accounts prudently to keep enjoying your low interest credit card.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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If your dentist accepts credit cards as a method of payment, there should not be any obstacles. Since you are considering paying for your treatment with a credit card, we would recommend you consider getting a credit card with 0% intro APR and rewards program. Thus, you will be able to save on interest and to earn rewards on card purchases.
The CareCredit cards do not provide any insurance. They are medical credit cards that give access to a line of credit that can only be used at a limited number of providers. If your doctor accepts CareCredit, you may want to take a closer look at this card. However, note that medical cards come with a high go-to interest rates, and promo financing is rather tricky. The promo financing does not give you zero interest, it gives you a differed interest, meaning that if you are late with a single payment or unable to pay off the balance by the end of the promotional period, you will be charged...

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