There are many low APR credit cards on the market today. In fact, since interest rates are so low now, banks and other credit card issuers have the luxury of lowering their rates and still remaining very profitable. The key to finding low APR credit cards is to judiciously compare the credit card offerings that are out there.
Let the credit card chaser help you find the perfect low APR credit card by guiding you through the maze of credit card offers.
Some low interest credit cards are harder to be eligible for than others. If you have an excellent credit rating, this will not concern you. However, for those who have a few dings and dents in their credit, it may be tougher to be eligible to find a low APR credit card for which they are eligible. An online credit card quote tool can help you find one.
How do I maintain a good credit rating to be eligible for low interest credit cards?
Maintaining a good credit rating is not difficult, but it does require vigilance and discipline on your part. Essentially, your credit rating is made up of reports to the major credit bureaus that lenders make on your behalf. Not all lenders report and not all report regularly. Some tips to help you establish or maintain a good credit rating include are as follows.
Make sure that the lenders you have presently report to the three major credit bureaus regularly. If not, you may want to consider opening a credit card that does.
Monitor your credit. At least once a year, get a copy of your credit report to make sure that it is accurate. If it is not, be sure to dispute the discrepancies immediately and get your credit cleaned up.
Pay your bills in a timely manner. This is rather obvious, but late payments cannot only cost you in late fees, it can also negatively affect your credit score.
Make a budget, including an amount that you can “blow,” or create a list of things that are okay to use the credit card for. Stick to it carefully. If you live beyond your means thanks to credit cards, you will damage your credit and cost yourself extra money in interest charges.
Do low interest credit cards keep their low APR?
When you take out a low interest credit card, it makes sense to take the time and read the fine print. Some low APR credit cards are actually low APR introductory offers that expire after a preset period of time. If this is the case, the APR you will be left with will be much higher.
Even cards that are supposed to carry low standard APR can change with time. A credit card issuer can change the APR, providing he gives notice to cardholders. A few such increases can result in a credit card rate that is anything but low. Read notices that come from your credit card issuer so you can remain abreast of the APR.
Are all low interest credit cards equal?
As with any commodity, not all low interest credit cards are created equal. Compare credit card offers based on their standard APR; the length and terms of any introductory credit card offers; awards programs that apply and the companies themselves.
J.D.Power and Associates is a leading consumer research firm. They have done a study of credit card satisfaction amongst cardholders. By checking out how a card issuer fares with its clients, you will learn whether it is a good choice. The Better Business Bureau is also an excellent resource to let you check out a credit card issuer.
When you are evaluating a low interest credit card, be sure to make sure you are aware of the details of introductory offers. Some have low interest for purchases only, while others have low interest for purchases and credit card balance transfers. Depending on how you plan to use the credit card, this may be a determining factor in your choice.
Before you start to compare every single card that is out there, let an online tool help you find the best low interest credit cards for you. Such tools sort through the variety of credit card offers that exist and provide you with the details of the ones that meet the criteria you have set. Therefore, you have the best chance possible of getting a great card.
Choose the credit card chaser to be your online tool for your next low interest credit card.