How can I avoid getting duped while applying for low... - Other Questions


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most 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 » Questions » User Questions » Other » How can I avoid getting duped while applying for low APR credit cards?

How can I avoid getting duped while applying for low APR credit cards?

Answered on | Updated on June 9th, 2011
The content is accurate at the time of publication and is subject to change.

It is not uncommon to see low APR credit card deals and offers flooding our mailboxes on a daily basis. Innumerable banks find the low APR strategy to be the best since many customers apply for these offers with dreams of saving some money on their credit card. Unfortunately though, most of the low APR deals are not as good as they seem. A number of people who opted for these cards thinking it will save them some money ended up spending hand over fist after obtaining the card. There are very few banks today that offer really good low interest deals without any selfish intent. If you want to avoid getting duped while applying for low APR credit cards, here are some things you need to keep in mind.

First of all, find out the duration for which the bank or the credit union is offering low interest rates. While some banks offer low rates for the first six months, there are a few others that offer low APR for 12 months or more. The next thing is to look out for the conditions that apply. A number of banks and credit unions offer reduced rates only on balance transfers or purchases made. The low rates will not be applicable for cash advances on the card. However, ensure you find out these details before signing up for one.

There are banks that try to make up for low interest rates in the form of high annual fees or other hidden charges. Before obtaining the credit card, find out the annual fees on the card and the other charges such as late payment fees, cash advance charges and financial charges.

There are low APR credit cards that do offer rewards and loyalty points on purchases made using the card. Look out for such credit card deals if you would like to get better value for every dollar you spend using the card.

If you want to avoid getting duped, don’t just sign up for low interest deals only because your friend or partner signed up for one. The terms and conditions for one may not be the same as the other. It is always recommended to be careful and take a look at all the factors before filling up the application form. Make a well informed decision to get the best low APR deals in the market.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
The Citi Rewards+℠ Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
Excellent, Good Credit
Earn unlimited 1.5% cash rewards on all purchases.
Good, Excellent Credit
See Rates & Fees
Perfect credit not required for approval; we may approve you when others won’t
Fair/Bad Credit

Other Questions in

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!