Things to Consider in Choosing Low APR Credit Cards
Low APR credit cards are offered everywhere in the internet. It is the annualized percentage rate of the credit card charges. The lower the APR, the more advantageous it is for you. Though you intend of paying the card purchases before the end of the month, having minimal APR still makes your finances easier to handle. APRs differ from one company to another. Oftentimes, credit cards with low APR are only offered within limited period. Aside from looking at the low interest offer, you should look at the period of the offer. The longer the period of the low interest offer the better.
For you to handle the credit based on the offered APR, this is what you should consider:
Look at how long the offers of the low APR. You will know this by reading the fine prints. Will it last for a year or six months? Choose the duration that works best for you.
Consider your payment method in paying your credit card. Users who pay through balance transfers must take a look at the interest in the transfer as they can find one that is favorable.
Consider the time that you intend to pay. If you can indeed manage to pay your credit card in one month’s time, then you will surely be able to save. In fact, the APR will prove insignificant even if the APR is offered in the first year.
Avoid hopping around for various credit cards with low APR; running after zero interests and its period of offer. This will ruin your credit rating and will consequently ruin your chances of getting more credit or loan options in the future. Whatever you choose for your credit card, stick to it and manage it well.
Do not be enticed by the extra rewards. The idea of having a credit card is an aid in case cash in not available for important and immediate purchases. A promised 100 points for the Levis pants might hurt your finances and your payment capacity in the long run.
APRs should be your main concern when it comes to choosing the credit cards. It is the extra amount that you pay for every purchase you made with your card and if you cannot manage it well, it will be the cause of financial problem.
To get the best option, be sure to take time in searching the credit card that suits your lifestyle and financial capacity. With the many offered low APR credit cards, you will surely find the best one if you do the research diligently.