The Truth About Low Rate Credit Cards

By:Robert Alan

Low rate credit cards or as some know them as low APR credit cards can be very great for those individuals that carry a balance forward every month. The problem is that most people that really need or want low rate credit cards are unable to receive one because most credit card companies will only offer low rate credit cards to people with above average or excellent credit. This puts the majority of the population out of the market for low rate credit cards.

These low rate credit cards are out there, you can see them advertised on the television, on the internet and even in your email, but unfortunately, you may not qualify. The average rate for low rate credit cards is around 9 percent and some even go as low as 3.99 percent for certain individuals with an excellent credit rating. If you have credit that is less than appealing, you can always negotiate and possibly receive low rate credit cards if you have been employed with the same company for a certain amount of time, and the credit card company believes your income will stay steady.

However, many companies that offer low rate credit cards also have a pretty hefty annual fee or membership fee, which can be as high as $100. This can cost you more in the long run that owning a credit card with a higher APR from the start. Watch out for those introductory specials as well, just because the low rate looks wonderful, it may only be for 3 months and then the rate can go up drastically to up to 17%. You can always discuss these fees with the credit card company to see if they may waive this fee.

low rate credit cards may only be for an introductory period. You can even find a few with a 0% APR, the problem is once again that after the special there will be an increase. Some introductory specials for low rate credit cards are for 3 months, 6 months, 9 months, 12 months, and in some rare cases 15 months. If you are sure you will be able to pay off your balance before this period is over then it would be a great deal, however, if you will have it paid off you may notice that you will be paying 17% APR on your balance.

Just because, there are low rate credit cards out there does not mean that everything will be cheaper, the balance transfers can be expensive as well at around 3%. So, be sure that you read all the terms and conditions carefully before you even apply for low rate credit cards, or choose your Low APR Credit Card.

Many low rate credit cards offer a variable or a fixed rate of interest. If you choose a fixed rate of credit, this means that the rate will stay the same, however, with a variable interest the rate can fluctuate.

Digg del.icio.us Blink Stumble Spurl Reddit Netscape Furl

Article keywords: Low APR Credit Cards, Low APR Credit Card, Low Rate Credit Cards

Article Source: http://www.articles2k.com

For more on low rate credit cards, Robert Alan recommends that you visit CreditCardAssist.com.

Top Credit Articles
1). What Is a Good Credit Score – How Can I Raise Mine? By : Peter Crump What is a good credit score? When you request a free copy of your credit report, you will find a score assigned to your credit history. This score will determine whether or not creditors will grant you the loan or credit that you want because it gives them an idea of your risk to repay. Generally, the answer to the question “what is a good credit score?” is the higher the better.
2). Paying Off Your Credit Card Balances: Running The Numbers By : Stephen L. Nelson, CPA Ever thought about paying off your credit card balances? Maybe you would like to be debt free just to reduce your stress. Or perhaps you need to be debt free to retire. If you have Microsoft Excel running on your computer at home or work, you can use Excel’s NPER function to calculate how quickly you can pay off a debt such as a credit card balance.
3). Credit Card Faq - Credit Card Security And Authentication By : Joseph Kenny With the ever rising reports of credit card fraud, fraudulent use, internet phishing and identity theft, people are rightly concerned about credit card security. Fraudulent credit card use can be an annoyance at best, and seriously damage your credit at worst. It's only reasonable that people have questions about credit card security and authentication methods.
4). Online Credit Card Application: The Easiest Way To A Customer’s Heart By : David Riewe Many credit cards are offered in the market today thus, making companies more aggressive in advertising and marketing their card services. These companies (e.g. banks, department stores, specialty stores, airlines, hotels, etc.) have found a powerful tool in catching the attention of prospective card holders: online credit card application. What advantage/s does online credit card application offer? The bottom line of online credit card application is “convenience”.
5). How To Build Up Your Credit By : Ken Snow There are many effective ways to build credit. In order to keep creditors from bothering you, and in order for you to get a loan with a reasonable interest rate, you need to learn how to build your credit. The best place to start is to not buy things that you don’t need. If you always make impulse buys, you will find yourself in deeper debt very quickly.
6). Best Rewards Credit Cards By : Richie Chapin It's almost a guarantee when you check your mailbox you will have a couple pieces of mail offering you a pre-approved credit card. Now most people will casually discard them without any regard to the offer that is inside. But before you throw away that credit card offer you may want to take a peek at it. Many credit card companies are now offering you FREE rewards just for using your credit card.
7). How to Choose the Right Credit Card For You By : Richie Chapin So your thinking about getting a credit card but your not exactly sure what to look for right? Well there are a lot of different things to consider when applying for a credit card. Some things to think about are the interest rate, annual fees and features the credit card may offer. Here are a few tips that will help you choose the best credit card for you.
8). Instant Credit Approval - Avoiding Fees By : Robert Alan This article describes how to avoid paying fees on instant credit approval
9). Credit Bureaus Adopt New Credit Scoring System By : Rick Hendershot The three major consumer credit bureaus in the U.S. have recently created a new credit scoring system that will give financial institutions a more consistent evaluation of the credit worthiness of applicants. The three agencies -- Equifax, Experian and Transunion -- have introduced the new system called "VantageScore". The new scoring system will be used immediately for reporting to banks, lenders, and credit card companies, and will be available to consumers later in the year.
10). The Travails Of The Pros And Cons Of A Small Business Credit Card By : Sohel Katir For small business credit card getting a sense out of a deal is, in some instances, the most difficult thing to do. This is because most people could not instantly figure out the benefits they can derive from obtaining it. Take for example the case of small business credit card. Some people contend that business credit cards are crucial in the growth of a business, while other s contend that it is just one way of losing their investments.

New Credit Articles
1). Free Credit Reports, Where You Can Get Yours Today and Keep a Blazing Eye on Your Credit! By : Tom Jerico Everyone can get a free credit report. It is one of the most important things anyone can do to keep their credit in shape.
2). What You Need To Know About Legal Credit Repair Service By : Paul Johnson Legal credit repair service is a lucrative industry that is heavily based on making claims that suggest that they will be able to repair your credit without a hassle.
3). Chase Free Cash Rewards Visa Credit Card - Pros and Cons By : George Allen The Chase Free Cash RewardsSM Visa® Card, issued by Chase, is designed for those with very good credit who would like a card that offers a cash back reward program.
4). When Considering Credit Card Benefits, Are Reward Cards Really A Bargain? By : Gregg Hall Now credit card companies are using reward systems to get people to sign up for their card. For the consumer this is great. You can now get rewarded just for using your credit card that you were going to use anyway.
5). Can Your Repair Credit Yourself? By : Paul Johnson Many companies that want to make a good deal of money exchanging your credit information will advise you against repairing your own credit.
6). Get Your Free Credit Repair Help By : Paul Johnson At first glance, free credit repair help may seem too good to be true.
7). Newbie Credit Repair Advice By : Paul Johnson You have credit rights and they are likely being violated.
8). How your Credit Rating Affects your Credit Card Application By : Jon Francis When you apply for a credit card, one of the factors that come most into play in whether or not you are approved is your credit rating.
9). Credit Repair - Where to Start? By : Paul Johnson Getting started in your path to credit repair can be mind-numbing. Read on to take that numb right out of your mind and get your credit repair process started.
10). Paying The Price Of Credit Card Jumping By : Joseph Kenny Having a debt and paying no interest on it seems almost too good to be true. But many consumers use their credit cards to do just that. The process is known as rate surfing or credit card jumping.