Many Options With A Low Interest Credit Card

By Thomas Zimmerman

Are you looking for a credit card with a low annual interest rate? Keep in mind that you have many options. One of the first things to look at is to see if the credit card is a fixed, or variable rate

When it comes time to make your decision you should choose a fixed rate over variable. With a variable rate card, the interest rate can go up over a period of time based on the issuer's disclosures. That is why as they say...read the fine print.

The facts are; you might start with a low interest rate, but end up with a high rate over time. A fixed rate is just that...The Interest rate stays fixed for as long as you pay the card before or on the due date. This you will find true with just about any credit card in existence. So be sure to have your payment in before the due date. it is also highly advisable that you have read the Companies Terms and Conditions before activating your card.

When looking for a new credit card the key is to look for a low interest credit card offering a fixed rate. So, now where can we find such a credit card? The best approach is to look for a directory of credit card offers. Than peruse through the list that is available on the directory to find one that best fits your criteria based on the previous explanation of fixed and variable.

There are a lot of choices that you can make and that is why it is very helpful to have all or most of the offers in front of you from most of the major card companies. This obviously will save you a lot of time in making the right credit card card choice for your situation.

About Mr. Zimmerman:

Mr. Zimmerman is an online Entrepreneur who specializes in online facilitation of Credit purchasing and Credit Repair through some of the best financial Entities on the Internet.

For More information:

http://creditlinkusa.com

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Choosing the Best Low Interest Credit Card

By Jeff Lakie

With so many low interest credit cards on offer, how do you know which one to choose? Here is a brief guide for choosing your low interest credit card.

The Chase Manhattan MasterCard is a great choice, for those with an excellent credit rating. It has an introductory APR of 0%, for up to six months, which is a great option if you plan on transferring your existing balances to your new account. If you currently bank at Chase Manhattan, you can earn additional rewards with this card, like a longer APR term. If you do a lot of travelling, you will like this MasterCard, because it has the Chase Travel Reward program, which lets you earn 1 point for every $1.00 that you spend and gives you automatic worldwide travel accident insurance, up to $500,000.00 and offers you a discount at Hertz Car Rentals.

If you are looking for a straightforward, low interest credit card, the Blue Card from American Express is a good choice. Like the Chase Manhattan MasterCard, it also has a great low interest rate of 0% for up to 15 months, for those who qualify. The advantage to having this card, however, is that is imbedded with a Smart Chip, to help you track unauthorized purchases and it allows you to opt to carry a balance throughout the year or pay the full amount monthly, like a traditional American Express card.

Another low interest credit card package which will give you a low interest rate is the Chase Travels Reward MasterCard, which is perfect for those who travel frequently. In addition to its introductory low-rate, it offers a low interest rate for balance transfers. It has a generous credit limit of up to $50,000.00, for qualified users and will reward you with 1 point for every dollar that you spend with your card, which can be redeemed at various hotels and restaurants.

There are many great credit card offers which will give you a consistently low interest rate, all you have to do is apply!

Jeff Lakie is the founder of Credit Card Resources, a website providing information on credit cards.

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Low Interest Credit Card For You

By Stephanie Wendy

Low APR credit cards offer a far lower than average rate of interest on balance transfers, without having to pay a fee to move your money. Although you’ll still have to pay interest each month, this will only be around six per cent - a rate that will last for the life of your balance so there won’t be an interest rate jump to watch out for once the promotional period has ended.

These credit cards are good for people who tend to regularly or only ever pay the minimum amount off their debt. Different credit cards might have attractive headline rates but they won’t change your bad habits, so if you’re not very disciplined with money, the chances are that you’ll still have an outstanding balance when the interest free period runs out on your zero per cent credit card. This will land you with a much higher rate of interest all of a sudden - but with a low APR card you won’t have to worry about this.

Many also include the same benefits as 0 APR credit card, offering interest free purchases too. But there are still a few things you need to consider when choosing your card.

The rate on other spending

If your card doesn’t come with interest free purchases, or you are out of the promotional period, you need to know the rate you’ll be paying on any more spending you do with your low life-of-balance card. While your low ARP will stay in place until you’ve paid your transfer off, anything you spend on top of this will carry a higher rate.

Where your payments go

All credit cards carry “tiered” interest payments. This means that when you pay money off your card, it goes towards the “free” or “cheap” debt first - those things that carry the lowest interest. Any higher interest purchases, or cash advances you make - that make lots of money for the bank - will be paid off last so that you pay interest on them for as long as possible. This means that if you transferred £3,000 and then spent a further £2,000 on your card, any payments you make against your debt will be first allocated to the £3,000 you originally transferred, and which carries a lower rate of interest. The £2,000 will be left in the account for as long as possible, accumulating interest at its higher rate.

How you spend

You need to be aware that certain types of spending attract different rates of interest. While you can rest assured that you’ll pay the lower rate on your transferred balance, if you take out any cash, do any online gambling, or with some cards even buy gift vouchers, you’ll end up paying an even higher rate than the standard APR - as high as 30 per cent with some cards. And again, this will be the last thing to be paid off from your debt.

Is this the card for me?

The low interest credit card works best for people who either have a substantial amount to pay on their credit card, or who know they will only be able to pay a small amount off each month. If you’re considering one of these cards you should think about how long you think it will take you to pay your balance off - being realistic - and work out how much interest you will pay overall. Then you can compare this to the cost of a zero per cent card - remembering to include the transfer fee and the higher rate of interest after the promotional period - to decide the best option for your personal needs.

Make sure that you always read the terms and conditions of your card so that you know exactly what you’re signing up for and to ensure that you don’t get caught out on any instant cash transactions.

Stephanie Wendy writes for CreditChoices.co.uk that offers price comparison tools and consumer guides for loans, credit cards, 0 balance transfer credit card, mortgages and savings accounts.

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The Power of a Low Interest Credit Card

By Aubrey Clark

A low interest credit card is the ultimate quest for most people seeking plastic these days, however most of us are distracted by credit cards that are marketed to our specific lifestyle or hobby. Credit card companies learned years ago that most of the credit cards are “bought” on impulse and usually reflect the applicant’s hobbies i.e. sports, poker, travel and many more niches. They also found out that when shoppers buy the “sizzle” of their product they are less likely to scrutinize the cost. It’s wise to understand that credit cards and Vegas share a similar profit margin and winners built neither.

Every year our nations colleges graduate a new wave of credit hungry, upwardly mobile professionals that will soon begin their credit career. This is the credit card industry’s largest target market, get them and get them early. Most graduates under the age of 25 years of age are carrying in excess of $7,000 in credit card revolving debt, and paying an average of $1400 a year in interest on this debt. Most credit card company’s bill at 2% of the balance ($140), which only reduces the principal balance $280 bucks! How many young college grads do you think put less than $280 a year on a card?

Using a low interest credit card wisely can strengthen your credit, provide security and help you build your nest egg for the future. Unfortunately most young people are not only strapped with debt, but they are robbed of the ability to save money due to the interest they are paying. What if the young people that were in debt were able to save $1400 per year instead of spend it on interest? Most college grads would have almost $7000 in savings rather than $7000 in debt by age 25, that's a $14000 swing! This all begins with credit restraint, planning and a fundamental understanding of what credit cards were originally designed for.

At Direct Banc we believe in credit cards, in fact they are our livelihood, however we also believe that our product is widely misused. Credit cards are as dangerous to some borrowers as alcohol is to alcoholics. We feel that advance education is the best defense to help potential credit card users before they find themselves in trouble.

Some practical advice if you do have excessive credit card debt is to begin to look at your credit card debt in terms of principal and interest. If you multiply your interest rate by your balance then divide by 12. (19% x $7000 = $1330 divided by 12 = $110) This number is the amount of interest you will pay on that credit card each year and month respectively. Now take your outstanding balance and divide by how many months you would like to have the card paid of in. ($7000 divided by 36 months = $194) If you combine these two monthly payments, ($110 + $194 = $304) they will give you the amount payment you need to make.

There are credit cards available that have “life of balance” transfer options. These low interest credit cards will give you one low fixed interest rate on balances that you transfer to them. The trick here is to close the account you transfer from. If you were able to lower the interest rate to 7.9% (we have several that do this for people with average credit) you can cut your annual interest by more than half! 7.9% X $7000 = $553, and divide this number by twelve and your interest payment is now only $46 per month! This means you can make a $250 payment and pay your balance off in the same time frame, or even better pay it off sooner by continuing to make the $304 payment. Stay tuned for other helpful tips from DirectBanc.com.

Aubrey Clark is a writer and editor for DirecBanc.com - Low Interest Credit Card Section

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How To Get a Low Interest Credit Card

By Tom Coleman

Consumers often have the first credit card that they ever applied for, never really analizing how the interest rate affects their payments, but many other options exist and can help consumers decrease their payments and achieve financial stability.

With interest rates on some credit cards rising to over 23%, even low balance credit card debt can be crippling. One of the first research elements a prospective borrower should look at is the interest rate on transferred debt. This interest rate is often lower than the usual interest rate for the credit card, and can be an especially good deal for borrowers who have debt already. Another element to consider is the interest rate on new purchases – this rate will be the main concern in the years to come, as this new credit card will probably become the most heavily used. Borrowers often worry about annual fees, but these are often temporary. Getting a credit card with low interest rates will save a borrower significant sums, usually much more than the annual fee. Plus, once good credit is established, the annual fee may later be waived.

Another interest rate will usually apply, as well – the rate for cash advances. Cash advances are usually limited to a couple hundred dollars, but credit card companies often insist that when paying back the balance, the credit portion must be paid back first, then the portion that the cash advance applies to. So if you are going to keep a balance on your credit card, be aware that cash advance interest rates are higher than the regular interest rates. Cash advances can be incredibly helpful in emergencies, though, when a credit card cannot be used.

Visa and MasterCard are by far the most commonly accepted credit cards, so less commonly used cards such as American Express and Discover often offer special rates for new customers. These rates are worth attention, even if you think that you may not be able to use the card as easily as your previous credit cards, because transferring the balance to these new cards to obtain the lower interest rate may significantly lower your payments. While your AmEx or Discover Card may not be accepted as often, they can be a good tool to achieving your financial goals.

Even less commonly used are credit cards that are store specific, such as gas cards or department store cards, but these cards can offer incredible deals on interest rates. They rely on the fact that consumers will often switch their spending patterns to the new gas station or store, and this increased revenue makes up for the lower interest rates. A slight change in your habits, such as consistently using the new credit card at the new gas station, can lower payments and improve credit scores.

Researching new credit cards can seem daunting, but by comparing the four main factors, which are the regular interest rate, the rate on transferred balance, the rate on cash advances, and the annual fee, you can reduce your credit card payments significantly.

Article written by 0% Credit Cards In The UK Article Source: http://EzineArticles.com/?expert=Tom_Coleman

Low Interest Credit Card Offers

By Seth Miller

In addition to giving the facility of limited-time low or zero interest on credit cards, banks also offer a variety of add-on attractions in a bid to get more of the market. The idea is to have customers switch their balances from other banks to theirs, thereby allowing them to take over their banking ‘portfolio’. Apart from the low/zero APR feature, the ones that have proved to have the most pulling power in this regard are the no-annual-fees feature and low interest/interest free balance switchover.

With regard to the latter feature, the offer to transfer a balance at little or no interest often proves to have a major hidden catch. To illustrate, a bank that offers balance transfers at something like 5% may levy quite exorbitant charges if the user does not spend a minimum specified amount on the new card. Such a mandatory amount may be as high as $1,000. In other words, the credit card user must first decide whether such an amount is likely to be spent before deciding whether the ‘offer’ is feasible and beneficial or not.

Another add-on feature that attracts customers these days is the cash-back feature, which gives the customer a certain ‘kickback’ on money spent via the credit card. These offers are usually in connection with specific product brands or providers, such as fuel, grocery outlets, chain stores etc. Again, it must be understood that the primary aim here is to generate more revenue for these products and services and are based on arrangements with the bank for this purpose. The ‘kickback’ is, in most cases, quite insignificant – often as little as .25% of the purchase value.

Whether the offers available on any given low interest credit card are actually beneficial to the customer depends on a number of variables. Banks are in cut-throat competition against each other to get customers for their cards and make a number of offers that eventually are of little or no advantage to the end user. Reading the fine print and having a good understanding of one’s own spending pattern is definitely called for before deciding on any of them.

Low Interest Credit Cards provides detailed information on Low Interest Credit Cards, Best Low Interest Credit Cards, Low Fixed Interest Credit Cards, Low Interest Credit Card Offers and more. Low Interest Credit Cards is affiliated with High School Student Credit Cards.

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Finding A Low Interest Credit Card

By Jeff Moynihan

You need to look for a low interest credit card when it is most likely that you will not be making the payment or only be making partial payment within the grace period or the due date. By using your credit card what you are basically doing is that you are taking a short term loan without any interest as long as you are paying back this loan within due date.

Credit card companies allow you to make partial payment and charge a certain percentage as interest on the remaining value. There are many credit card companies that offer low interest rates. Some of them offer 0% interest for the first few months to attract customers. After the first few months you will be charged a certain percentage of interest. In certain cases the initial interest will be set low for the first few months and people tend to forget completion of the offer period and continue to spend excessively. Not many are aware that the interest rates vary for purchases and cash advances. Interest on the cash advance is much higher than the interest on purchases. Initially set credit limit is normally increased after a credit card holder proves a good credit history. This is to retain a good customer.

Sometimes, if you are lucky enough and have an excellent credit history then you might get low interest rate offers. Whenever you come across a low interest credit card offer it has to raise an alarm in your mind on what credit card companies are trying to do to you. They are inviting you to spend more than what you can afford and by offering low interest rates they unconsciously de-motivate you from paying the bills in full. The ultimate benefit is the money earned through the interest value gained. By offering 0% interest rates for the first few months, they not only entice you to sign up but also that you get used to spending without worrying about the interests. You continue to spend even after the offer period, leading to huge monthly bills, ending up in debt. Statistics show that credit card companies earn their profit mostly through the interest paid by their customers and not on their yearly subscription fees

Credit card companies when they keep their interest rates low, they tend to reduce the grace period for the payment of bills. So it not always mean advantageous to have the interest rates to be lower while grace period for the payment of bills is shorter. It really depends on how you would like to use your credit card.

For more information on finding the very best Low Interest Credit Card, The article author Jeff M recommends that you visit the-credit-card-pros.com

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