Low APR credit cards take an upper hand over cards with interest free period
Surprising though it may seem, recent research results clearly show evidence of low APR credit cards being better than the cards that offer zero interest for a stipulated period of time. Most of the cards that offer interest free balance transfer offers charge a fee that is in the range of 3 percent of the total transfer amount. On the other hand, most of the low interest rate cards do not charge any fees on balance transfers. The duration of the interest free period also has been dropping regularly and the only card that offers the longest interest free duration is one of the cards from CitiGroup Inc, for a period of 21 months.
The zero interest on credit cards is just part of the promotional deals to entice customers into applying for the cards. However, once the interest free period ends, the interest rates on these cards spike up automatically. Some cards even charge interest as high as 22 percent and more. However, low APR credit cards, though do not offer interest free period, do offer low interest rates consistently which can work in favor of the customer.
Though there are a number of banks that claim to offer the best low APR credit cards in the market, only a few of them are worth applying for. One of the cards is Capital One’s Click Card and the other is the Platinum Simplicity card from Barclays Bank.
Latest Low APR Credit Card News
A new credit card made especially for small business owners gives Amazon Prime members extra cash back on purchases, as well as the ability to choose flexible payment terms in lieu of rewards.
When folks have multiple types of debt they’re trying to pay off, it can be difficult to know which check to write first. But for the many people struggling under student loan debt, it’s important to pay off other loans first, financial experts advise.
Online retailer Zulily is now offering customers a co-branded credit card that allows them to pay for purchases in three monthly payments. The card, issued in conjunction with Synchrony Financial, offers Smart-pay, which gives cardholders flexible payment options.
A new survey indicates that Americans are getting more comfortable with the idea of instant financing when they’re shopping online. Seventy-five percent of folks said they would choose to buy from an online merchant offering instant financing, rather than one that did not, if given the option. And 28% said they would switch stores if they could use instant financing to fund their purchase.
When your credit card is lost, stolen, or compromised in some way, one of the most annoying things is having to wait for your replacement card to arrive. While you’re waiting, you don’t have use of your credit card, and you’re never sure exactly when the card is going to show up.