Facts About The APR Of Credit Cards


Credit Cards : Facts About The APR Of Credit Cards	Homepage \| Add to Favorites

Recommended Sites

Related Links

Informative Articles

Consolidating Credit Cards
Credit card consolidation is a popular solution for those with significant credit card debt, usually distributed on three or four different cards. Basically, this means putting all your debts together on a single card, like transferring it all to...

Credit Cards: Non reward Type vs Reward Type
You've finally come to that stage in life when you can afford to own a credit card, not as a supplementary cardholder but as the principal cardholder. Finally, you've earned the right to have a credit card in your own name and to be able to...

Do We Underestimate What We Spend On Credit Cards?
An investigation organized by Egg says consumers have greatly underestimated the amount that credit cards are used throughout the United Kingdom, what this means is consumers are spending a lot more than they think. The investigation revealed that...

Finding the Best Travel Credit Cards
While many airlines offer enticements of frequent flier miles, there is a second prevalent option - travel credit cards - for discounting your airline travels. There is a very solid reason that these travel credit cards are so popular for...

Judging the hidden costs of credit cards
Recent reports from CreditAction and the National Debtline appear to show that UK consumers are becoming more financially aware and are looking to reduce their levels of personal debt which have spiraled seemingly out of control over the...

Facts About The APR Of Credit Cards

When it comes to credit cards, the APR or annual percentage rates is always the ultimate source of confusion and chaos for most credit card users. If you don't have a credit card but planning on applying for one or you were just recently approved for a credit card then you must definitely read this article. Everything about APR of credit cards shall be explained so read carefully and remember!

What's APR? Basically, the APR or annual percentage rate of a credit card is the combination of low interest rates and finance charges. With that said, let's move on to the next topic. Are There Really Zero Percent (0%) APR Intro Rates And What Does It Mean? - Let's say you already own a credit card and you've used up most of your credit already. With a 0% APR intro rate credit card, you can transfer your balance without incurring additional interest.

Nice, isn't it? Also, if you're planning to purchase something but paying it off before the intro period is over then yes, having a 0% APR intro rate credit card is the best option for you. Remember, the keyword here is intro - which indicates that this is only something like an introductory offer so don't expect the 0% APR to last forever.

What About Low Interest APR Credit Cards? - If you're in search for a credit card with long-time charges then it's better to go for a low interest APR credit card rather than one with a 0% APR credit card because the interest rate would just revert to normal for the latter.

Which One Is Better: A Low Interest APR Credit Card Or A 0% APR Credit Card? - Well, this question would require you to research a bit but since your decision will ultimately affect your finances then it's better to go ahead and research, right?

The first question you have to ask your credit card company is about the length or duration of the intro period if you're interested in availing yourself of a 0% APR intro rate credit card. The intro period usually lasts between three to fifteen months. Anything less is naturally a disadvantage and anything more is preferable.

Ask also about what the APR of the credit card is going to be after the intro period. If the interest rate is higher than the APR of other credit cards that do not offer 0% APR for a certain period of time AND you're not planning to maximize the 0% APR you're given then maybe, it's better to simply go with a low interest credit card.

About the author:

Michael Colucci is a technical writer for Low Interest Credit Cards - A site that offers credit cards with an intro rate of 0% for 12-15 months.