The low interest credit cards come with an exclusive low APR credit for most purchases. This offer includes no annual fee to begin with. The low APR credit cards have been featured in many websites, banks, credit card companies and car dealerships across the United States.
Low APR Credit Card Types:
* credit cards for individuals who have bad or low credit records.
* individual automobiles.
* high-cost credit cards.
* long-term debt consolidation bonds.
* cards for individuals who are widowed or divorced.
The APR offered by most cards is a 2.99% APR. This means that for the life of a credit card purchase, an individual with a bad or low credit rating would have to pay a rate of around 19.24%.
This means that for every $100 of debt that the borrower cannot pay, the APR stands at about $23.83.
Americans spend a billion dollars a year in consumer credit loans and secured loans. Paying over for a credit card means that the borrower has to pay for a larger percentage of the total debt. The way banks and credit card companies make this billions is to give very low interest rates so that as the interest rate falls, the borrower has to make only a 2 to 3 percent of the payments.
These rates do not include other fees such as annual fees, application fees and possibly balance transfer fees, but these are the fees banks will generally take on when the borrower pays the grace period off rather than finance charges. In other words, most cards don’t exist to provide a low APR credit.
* car loans and credit cards.
* general-purpose credit cards.
This credit is not only available to you.
You are entitled to a free annual credit report once every 12 months.
No credit check required.
Low APR Credit Cards
Low APR credit cards are popular because most people prefer to get good credit, because they can get around the APR as well as the fees that the credit card company will charge to the borrower. Many people view low APR credit cards as a way to cut on their credit card fees.
Annual Percentage Rate (APR)
What a low APR credit card is offering
Many credit card companies offer a low APR for a period and offer a fixed rate, usually around 10% – 20%. As the offer lasts for a certain length of time, the APR will be way above the average interest rate.
Most low APR credit cards offer a wide choice of incentive programs. For instance, some of these cards will give their users incentives such as free mileage, travel insurance coverage or even discounts on shopping. This means that a person that chooses these incentives could get his/her 0 APR credit card for free long after the promo has ended! If you wish to actually carry free information about a product, such as the manufacturer and shipping address where you will be able to use it, you will need to order the product from one of these credit cards.
If you use your low APR credit cards religiously, then you can expect to pay a little or a lot of extra for those low APR credit cards. This is because credit card companies often take an initial interest payment on the offer and then charge it, usually around 3% to the regular APR.
Most low APR credit cards offer a fixed rate for certain time periods, usually sometime between 6 and 12 months. This might include incentives for signing up for new cards, purchase of new car, or even redeeming cashback on airline miles.
Low Apr Credit Card Rates
Most low APR credit cards offer even a 0 APR in most cases.
Some low APR credit card companies that do offer annual fees for you/your card so that you can expect to pay for the privilege to have some low APR credit card.