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Low Interest Credit Cards
In addition to looking for a 0% APR introductory rate it's also of equal importance to find an offer that will limit the amount of interest that you accrue should you carry a balance after your interest free period expires. Low interest credit cards provide this. If you are approved for one of the low interest bearing deals below and qualify for elite pricing you can have the best of both worlds -- the comfort of a 0% APR credit card and the ability to make purchase later on without having to worry about compound interest getting the better of you. Note that the typical eligibility requirements are a good to excellent credit rating for these offers.
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Best Low Interest Credit Card
These days a good interest rate is one that provides premium pricing just above 10%. Due to the impact that the economic crisis has had on the lending industry, most variable and go-to rates hover around 11.99% for people with excellent credit. The shift has been away from more favorable APR's when it comes to the regular rate but the good news is that the length of 0% terms from an introductory standpoint (even pertaining to low apr 0% balance transfer and purchase credit cards) have reached industry highs across the board for the most part and the rewards programs, especially when it comes to cash back credit cards, have really evolved.
So what's more important, the rewards program or the interest rate? It really depends on how you plan to use the card. If you're worried about the interest you will accrue on a card after an introductory term because you plan on carrying a balance, you should probably be looking for a low apr credit card with a long 0% APR term for purchases. However, if you don't plan on carrying a balance and are trying to protect yourself in the event that you may carry one, then you should be looking at that interest rate.
Don't forget to look at low apr rewards cards and the rewards program itself as it's extremely important. This year the influx of extremely consumer-friendly programs has been for lack of a better phrase, "unheard of" from a historical standpoint. There are some offers that are offering up to $200 bonuses with 5% structures. However, the strength of the rewards program is usually inversely related to either the length of the 0% term or the interest rate offered.
We've seen more and more visitors to our website who are less concerned with the interest rate while giving more weight to the rewards and 0% APR. Every situation is different, but it does make sense, especially if you have a strong credit history. With long 0% rates and strong rewards programs, the ability to shop around for a new card over time while you earn points or cash on purchases over time off-sets the importance of a low interest rate. Even if you're planning on carrying a balance over time you may find it more attractive in the short-term to apply for a 0% card and then seek out a low apr 0% balance transfer credit card offer later on down the road.
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