How to make the most of a low APR credit card? - 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 to make the most of a low APR credit card?

How to make the most of a low APR credit card?

Answered on | Updated on March 31st, 2011
The content is accurate at the time of publication and is subject to change.

APR typically means Annual Percentage Rate to measure the expenses over a credit card that is expressed as an annual rate. Recently, this is the most sought after credit card and it is presented in two types; the fixed or a variable card. Among these, the variable low APR credit cards are the most offered ones. These cards are usually introductory cards during balance transfers where you will be charged low interest, or at times 0 interest rates valid for a set time. This time may vary anywhere between 6 months and 1 year.

However, there will be a transaction fee for transferring the balance from one card account to another. These low APR credit cards have their own benefits of you qualifying for rewards or obtaining a good balance transfer and much more. Look out for the option of balance transfer when you opt for a low APR card. Also make sure there are no annual charges or any other hidden charges. Make sure you are explained in detail about all the charges, offers, and rewards by the company.

Note that the low APR card or 0 APR is not applicable for any purchase or cash advance. Once the set period of the APR is over, the rates will revert back to normal standards that are applicable for the prevailing balance transfers. Now, the APR will change to a variable prime rate of interest on every balance transfer and purchase. You will additionally be charged a minimum fee every month.

The advantage of the low APR credit card is that it has no annual charges and it helps you save day-to-day expenses on gas, grocery, and similar things. Some of the best companies for these cards are the American Express Low Interest cards, MasterCard Low Interest cards, Visa cards, Wired Plastic cards, Discover card etc. Some of the best offers of these low APR cards are the cash rebates, new automobile rebates, gas discounts, business cards, prepaid debit cards, etc.

Few reasons why you can opt for a low APR credit card are:

  • A way to procure an expensive item and pay at your own pace
  • Low interest rates
  • Balance transfer offers with 0% to 3% rate up to one year
  • Some of the best rewards offered
  • Low introductory rate of interest

Remember that you can make negotiations with your credit card provider on the APR rates in case you feel it is high.

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.
Introducing the New 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
Enjoy 70,000 bonus miles after spending $5,000 on purchases in the first 90 days
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!