How to spot a good low APR card
Advertising Disclosure is an independent, advertising-supported web site. receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » Research » Guides » Cardholder Benefits » How to spot a good low APR card

How to spot a good low APR card

Add to Favorites:
A good low APR credit card is like a diamond in the rough — you spend a lot of time searching for it, but once you find it, you treasure it forever. For many cards that boast low APR, reality sets in once the probationary period fades. Credit cards offer misleading introductory offers and teaser rates boasting very low APRs, minimal interest rates and no annual fees. During the first 12 month, low rates stay that way, but after a year, consumers may be surprised to find high APR rates and other miscellaneous fees on their bill, as consumers are now obligated to pay the highest standard APR rates in decades. The national average for APR is 14.9 percent, according to This rate is the highest that it has been since 2007. So, while sifting through all the introductory offers and low interest rates, it’s important to find a low APR card that suits your needs. Here are some things to look for when picking a low APR credit card. What’s the Interest Rate?There is never a zero interest rate. I repeat; your interest rate will never be zero. It’s important to not only know what the interest rate is, but also when you are required to pay that interest rate. The general rule is the lower the interest rate, the better the credit the applicant must possess. What About an Annual Fee? Check out if the card you’re interested in requires you to pay an annual fee. Annual fees are like low APR introductory offers— they may be waived for the first 12 months, so make sure to look into it and to ask the appropriate questions. There are many credit cards with annual fees, but if you can avoid dishing out this extra bit of money, you should. Is it a rewards card? Find out if there are any fun perks associated with the card, such as frequent flyer miles, access to a rewards mall or cash back. According to the report, the APR rate for cash back cards has increased more than 1.5 percent in only six months. Rewards card tend to have higher APRs than traditional cards.  “The most user-friendly cards seem to have the highest APR rates… mainly cash back and rewards cards. These two types of cards generate a lot of consumer traffic and also have a very high APR,” a Credit-Land representative said. When shopping around for a low APR credit card, look for a card takes care of your needs from the day you open the account. The $50 cash back, or those 15,000 free introductory frequent flyer mileswill notpay for the excessive interest rates that you will accrue in 365-days-time. Some Low APR Credit Cards: CitiBank Platinum Master Card Select – APR ranges for 11.99 to 20.99%, depending on credit score. Capital One Platinum Prestige Credit Card – 10.9 – 18.9% APR HSBC Bank Nevada Household Bank Rewards Card – 19.90% APR

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

5 Reasons to Get the Capital One Venture Miles Rewards Card

By Herbert Moore, Posted: January 18, 2017

If you’re looking for a great travel rewards credit card—one that offers unlimited earning opportunities, flexible redemption, and lots of perks—look no further. This card from Capital One has you covered. Continue reading

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading

Credit Cards to Save More on Holiday Shopping

By Herbert Moore, Posted: November 22, 2016

Discounts and special offers are available all year round. Werther you are a bargain hunter or an impulse buyer, make sure you check online discounts and special offers. Also, if you are a cardholder, see if your credit card opens the door ... Continue reading