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A Financial Guide to Low APR Credit Cards

There are many credit cards available at the moment and while every credit card can be considered slightly different each one has its pros and cons. So, before submitting your application for any particular card read the terms and conditions carefully and by law you must fulfil all the requirements. Here are some of the terms and conditions that you should be sure to be aware of:

1. Annual Percentage Rate (APR) – These are usually used to determine the rate of interest you will get on your credit card each year. Often, you can get through this with low APR credit cards. This means that you will not pay interest from time to time and by signing up for the cards you will ensure that you pay your dues every month.

2. Acceptable Transaction Fee – This fee is fixed at 3.99% of the total balance, which will increase gradually when you use the cards. Don’t worry if this fee is not enough to cover the cost of the card. It is important that the amount being charged to the provider is not more than 50% of your total balance.

3. Balance Transfers Fee – A fee usually assessed when you use your different providers credit limit of $5 or more. Most fees may seem small but it is important to understand all the different terms and things to be aware of.

4. Annual Fee – You generally will be charged a fee for using your other cards. This is usually around 3.99% of the total balance. Do not worry if that fee is not enough to cover the cost of the card. It is vital that you take full advantage of this fee structure to ensure that your card is truly affordable

5. Balance-transfer Fee – A fee usually assessed if you transfer your existing cards from one provider to another. This fee usually ranges from 3.99% of $5 to a flat $25 fee, but remember that this bill can only be used on your card at that particular time.

6. Annual Credit Bill – This is charged when you use your other credit cards to make new purchases. Often, this fee is 2.99% of your balance and most cards will charge a flat $25 fee

7. First Transaction Fee – A fee usually assessed when you use your other credit cards to transfer your existing card to another provider. This fee usually ranges from 3.99% of the total balance. Do not be surprised if this fee is not enough to cover the cost of the card

8. 0% APR – Can be a good deal if you only pay the initial fee (3.99%). This period of low APR rate, if it proves worthwhile, can be worth paying.

9. Protection Charge – The charge that covers any damage that would occur if your card were lost or damaged during the making of purchases on the provider and you were not the one to make the purchases. This will increase gradually as the provider sees fit to charge the charges.

10. Cash Advances Charge – A charge to your credit card provider generally charged at least 1 day after the first purchase you have made with the card. This date is called the cash advance transaction charge. Once it has been paid you can no longer make purchases by phone or online but you will get charged a small fee – only 2.99% of your card balance – but remember that even a flat fee of 2.99% can make this scam charge extremely expensive to pay.

How to Protect Against Low APR Credit Cards:

1. Make Sure that the provider sees fit to charge the highest possible cost for the best protection against low APR credit cards. It’s important that they see fit to do this – not all providers are created equal nor may they be. So, try as you might, try making a payment every month on time – on the time you were clear and on the amount you’re paying on your cards each month. This is your opportunity to make sure that this fee is not enough to cover the cost of the card!

2. Remember to note that it is always better to pay on time – on the time you were clear and on the amount you’ve paying on your cards each month.

3. Make sure that there are no late payments or any other charges which could adversely affect your ability to get low APR credit cards!

By using a good deal like the above, you can ensure that your low APR credit cards will not only meet new consumers and carry you through successfully but will also prove to be a good learning experience.

Low Apr Credit Cards Increase Credit Card Limit

By far, one of the most important aspects of a good ongoing credit balance is to be able to increase your credit limit and credit limit in no time at all.