When the Honeymoon is over: Really Getting to Know Your Low Apr Credit Card
Contributed by Alix Mcmurray
When the Honeymoon is over: Really Getting to Know Your Low APR Credit Card
Credit card issuers are in tight competition to offer you a credit card with a low APR as well as a host of other benefits and features. But not all low APRs are created equal. While that zero APR honeymoon may be sweet indeed, you may want to consider what you'll be faced with when the honeymoon is over!
How about a Slice of Cake with That Low APR Credit Card?
Just like newlyweds, you and your new credit card have a first year full of magic and discovery together. But isn't it said that the first year of marriage is the toughest? Well, one of the qualities of your new card may be no annual fee -- for the first year. After that, many cards charge between $75 and $85 simply for the privilege of membership. Others lower that annual fee if you maintain another card account with the same issuing company.
If you want ice cream with your cake, there are telephone companies that send you free ice cream for a year. However, after your first year, you'll have to get your cake and ice cream somewhere else.
You Can Call Me Anytime: Phone Rewards Packages
As if a low to zero APR and free first year weren't enough, credit issuers often attach other products and rewards packages to their offers. One of the newest is major phone company services and products. This may entail a reciprocal rewards program between a phone company privilege card and the credit card. Rewards can include a cash back provision on purchased goods and services from that phone company.
You may also be offered a specified monthly number of directory assistance calls or wireless phone minutes. Some even add on partial coverage for replacing a lost or stolen wireless phone. You can call your sweetie anytime, as long as you go with this particular long-distance carrier, so make sure it's true love!
