Low APR Credit Card Offers
Low APR credit cards are great for customers who want an extended period of time to pay back their debt. APR stands for 'annual percentage rate', where the cost of the credit is levied by the card company as a yearly rate of interest. You can either have a fixed low APR rate on your credit card, or an introductory low APR rate. Of course, the fixed low APR rate is better suited to those wanting to save money, as the interest they pay will not rise over time. Whereas some cards will only offer an exclusive interest rate for the first six months or the first year, others will provide low APR until a particular date.
Low APR Cards are good if you want to make larger purchases that you need to be repay over several months. As with other cards, it's important to look at the other charges involved, such as late fees, annual charges and insurance for your payment protection plan. Low APR credit cards are very attractive at the moment - especially as the interest rates on some cards are rising at the moment.
With a low APR credit card you won't have to keep switching between providers that are offering the longest 0% interest on purchases as an introductory offer. This means you will save time and money by avoiding the payment of balance transfer fees and it will look better on your credit history if you haven't repeatedly switched cards for lower interest deals.
These cards are perfect for people who do normally pay off their bill each month, but occasionally carry the balance over. With many low APR credit cards you need a good credit rating to begin with - so it's best to check before you switch companies. By staying with one low APR credit card rate in the long term, you could end up saving money by not paying high interest or paying balance transfer fees repeatedly.
When it comes to choosing the right card, you need to ask yourself how quickly you can repay your debt, how much debt do you have and what your credit rating is. There are many different credit cards to suit everyone. If you're unsure, there's plenty of information on the Internet that will help you to make an informed decision.