Low APR Credit Cards

After years of staying with the same credit card company, they have just sent you a letter authorizing a huge increase on the interest rate they initially offered you. The credit card industry is loosely regulated at best and although there are new rules rolling out in the upcoming year to help consumers, a rate increase can occur at any time. Your best strategy, finding a credit card with a low APR rate.

How Do Low Interest APR Credit Cards Work?

Low interest credit cards are usually offered with two types of enticements, either a low fixed rate APR or a low introductory APR. Both have their advantages. A low fixed rate APR rate may be a bit higher then an introductory rate, but after the initial promotion expires, the rates can increase significantly.

When choosing a low APR credit card, it is important to consider what you want this card to do for you and not just jump and a teaser offer. For example, if you receive a mail solicitation for a restaurant chain based low APR credit card but the closest participating restaurant that your perk can be redeemed in is 100 miles away, think twice.

Are Low APR Credit Cards Worth It?

There are many other promotional benefits offered from low APR credit cards companies. With a good or excellent credit score, you can not only secure a low APR rate but a card with perks you want to take advantage of such as cash back, airline miles, shopping discounts and free gift cards.

Sometimes, to get a low rate APR credit card, you just need to call up your existing credit card company and ask them to lower your rate. But if that fails, the Internet has the best tools for researching and securing a low APR credit card specifically for your needs. Why wait any further, start looking now.