What type of credit cards offers the lowest interest rates?
How to choose the credit card
There are several factors each of us needs to consider before making the final choice about the credit card. Among them are such features as airplane miles, cash back, annual fees and much more. Still the most important factor of any credit card is the interest rate.
It’s called APR (annual percentage rate) and defines the fee you’re going to pay for borrowing money from the bank. This is the price the person has to pay for the opportunity to get and use the significant sum of money today instead of accumulating them for months.
Sure thing it’s better to do monthly payments for the car or new TV while already using them instead of just dreaming about the time you can finally buy the craved item. Also there are cases when you do need money right now (illness, accident, etc.).
On the other hand the bank surely asks you to pay the fee for borrowing the money you will return later on. The amount of fee is calculated depending on the amount of your debt, credit worthiness, the card type and other factors. You shall be careful with interest rates, since if they’re too high, you may end up paying two or three times bigger sum than you’ve borrowed.
The average score for the good credit is about 750 out of 990, which means a lot of people are able to use all the advantages of the low credit card rates.
We’ve checked most of banks and companies and are ready to offer you best options available in USA.
1.The Citi Simplicity card offered by Citibank
The intro APR is 0% on purchases and on balance will be active for the term of 18 months. For the next period the rate changes, still the qualified consumer can get it at the point of 12,99%. Zero late fees as well as zero penalty interest rate increase in case you miss the payment are also great advantages.
2.Venture Rewards card offered by Capital One
Here you can count on 0% APR till August 2013 and 11,99-12,99% after this term. You can also redeem miles not only for airline tickets, but also for the car rental, room rental or any other needs you might come across while traveling. The amount of miles and the time of their accumulation are not measured.
3.Discover More card offered by Discover Financial
The advantage of this card is 0% APR for 15 months and 10,99% after this term. Also you can get the cash back in amount of 5%onquarterlyrotatingcategories or even 20% bonus reward if shopping through Discover.net.