Monday, February 05, 2007

The Low APR Credit Card and the Long-term Benefits

By J. William Arnold

When there are no shortages of credit cards, which is the best credit card offer? A worthier question to ask would be which credit card offer is the best for you? The spending habits of one person are different from that of another. Their lifestyles change and as a result their need changes as well. So for deciding on which credit card offer is best for you, you need to calculate your needs your lifestyle and your spending habits. However, if you frequently travel by air, an airline credit card might be preferable for you than the general purpose one.

Credit card providers, seeing an opportunity unfolding, immediately began to give0 percent APR (annual percentage rate) credit cards to new cardholders and still extended the offer to their ongoing customers. Even worse, some consumers transfer balances thinking they will attain a break from interest and be capable to pay the balance quickly, merely to find out the offer does not apply to the amount they transfer. Some cards offer 0 percent APR on balance transfers, but once that is paid off the APR goes up.

So, first you need to assess whether you need to go only for low interest credit cards and then choose the low interest credit card that fulfills your need. After all, you don't go hunting for a credit card everyday. Just search through the internet and you will see by the total of credit card offers advertised just how countless sites there is. Move around the web and you will discover credit card offers all over. So, the credit card offers are everywhere. Why are there so many credit card offers? Well, simply because credit card trade is a lucrative business for the credit card suppliers. A good notion is to consider a low APR credit card, since this will give you more savings over time.

Search out credit card companies that offer a low APR credit card. Competition is rigid and credit card financial institutions offer many perks, rewards, points, low APR credit cards and additional enticements. Although if you're not opposed to doing several switching, you can always apply for a low APR credit card and a 0 percentage APR credit card. When the introductory period on your 0 percent APR credit card expire transfer the balance to your low APR credit card and you will have a long-term solution.

Do not take the introductory offer for 0 APR credit cards at face value. When you see all the differing incentive programs, rewards and of course the 0 APR feature you may determine you should jump in and get that card before the offer expire. Consider the APR after the introductory period. That's why most turn to a low APR credit card rather getting short-term intro on a 0 percent APR credit card.

The essential reason behind this tempting offer is to lure the consumers to their bait. The 0 APR credit cards balance transfers offer great short-term savings, (unlike the low APR credit card) free up money to pay debt quicker, and can eventually save consumers hundreds, if not thousands of dollars in interest over their duration. A low APR credit card offer consumer's great long-term savings.

J. William Arnold has been involved in writing articles since 2001.For more information on a low APR credit card. Just click on the following link.

No comments: