High Interest in Low Interest Credit Cards
Contributed by Jessie Hart
Low Interest Credit Cards: Tricks to Look Out For
The daily mail carries a credit card offer that claims low interest. 0% INTEREST! It's in bold and caps and catches your attention immediately. You are just about to apply for this credit card when you notice the small print: something about whole 0% interest thing being an introductory rate and after eight months, you get bumped up to a ridiculous 19.5% interest rate. What appears to be to good to be true probably is...
But don't lose complete faith in credit cards. You just need to know how to decipher credit card offers so that you can recognize a decent rate when you see it.
There are several things that you should keep in mind while perusing a credit card offer that claims to have low interest rates: introductory rates may be amazing, but how long will they last? And when they are over, what kind of rates will you have to pay? Are the rates variable or fixed?
Low Interest Credit Cards: How Will You Use Your Card?
Is the low interest aspect of the credit card really the most important detail? Before deciding that the low interest of the credit card is the most crucial aspect, take an honest look at your payments past. Do you have a history of paying off each bill in it's entirety every month? Do you carry a little bit of a balance every month.
If you faithfully pay off your entire bill every month, then another money-saving feature that you will want to be included in your credit card choice is the "no annual fees" option. However, if you find it to difficult to make complete payments on your monthly credit card bill, then you need to make sure that the credit card that you are considering not only has low interest rates, but also, a fixed APR.
