How to Find the Best Low APR Credit Cards
When you use a credit card and don't pay the balance in full, you must pay interest. Thus, credit cards with low Annual Percentage Rates (APR) can allow you to save hundreds, sometimes thousands each year. If you have an excellent credit score, you could qualify for a low APR credit card. Compare interest rates online to get the most favorable deal.
Other People Are Reading
Instructions
-
-
1
Visit an online resource such as Bankrate.com or msnmoney.com.
-
2
Select the option to compare credit cards, then low interest cards.
-
-
3
Assess your financial circumstances. Some credit cards, such as American Express, cater to high-spending cardholders who always pay their balances in full. In this case, a low APR is only beneficial if you are able to pay off your card immediately. Other credit cards allow you to carry a balance over an extended period.
-
4
Find the cards from the list with the lowest APR that best match your financial needs. Read each card description to determine the best overall deal. Late fees, annual fees and other penalties are important factors that could cost you more in the event you miss a payment or reach your credit limit.
-
1
Tips & Warnings
Some cards may hike your interest rate if you are only a few hours late making a payment. If possible, choose a fixed rate card to circumvent this issue.
