How to Find the Lowest APR Credit Card
Is Zero Percent a Reality?
With the multitude of credit card companies competing for their share in the credit card market, finding the lowest APR credit card is not as difficult as you may imagine. If it is out there, then you can certainly find your way to it.
The best credit card deals usually feature one of the lowest interest rates available. On top of this, there are other additional enticing perks such as waived annual fees for the first year and rewards for purchases made using the credit card.
What to consider when looking for the Lowest APR credit card
When choosing the lowest APR, check out both introductory rate and permanent APR applicable after the expiration of the introductory rate. You will have to contend with the permanent APR for as long as you use the credit card so it should be given more consideration compared to the teaser rate.
There are some consumers who make a mind game out of the zero percent APR offered as introductory rates by most banks. Once the introductory rates expire, these consumers then transfer their balance to another bank with zero APR. This process goes on and on (for as long as they can find credit card companies offering zero percent APR). If you are planning to try this one yourself (although it is not recommended), make sure that the credit card company doesn’t have transfer fees. If they do, be sure the fee won’t offset your interest savings. You also need to know if switching all these cards will affect your overall credit rating.
Although the lowest APR credit card may seem to be the best deal there is available, your decision should not be solely dependent on this factor. Low annual fees or a complete waiver thereof and cash back rewards should also be given considerable weight when choosing a credit card.
The lowest APR credit card can be found using online credit card search engines. However, you should always take an effort to confirm your research with the credit card company before submitting your applications.
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Photo courtesy The.Comedian
