The content is accurate at the time of publication and is subject to change.

Banks are adopting a number of strategies to attract prospective customers due to the stiff competition that exists in the credit card industry. So, banks are vying with each other and offering some of the best deals for their customers. Now, customers get incredible balance transfer offers from banks and unbeatable rewards as well. Some of these banks are also offering low APR credit card deals in a bid to attract new customers. Customers also get carried away by these low APR card offers and sign on the dotted line even without reading the fine print. This can cause a lot of hassles later on and customers might end up in a bigger mess and they may even land in bigger debts as well.

Although, customers are being warned time and again about reading the fine print before signing up for a fresh card, very often customers ignore these warnings and just go ahead and sign the application without going through the terms carefully. You must be especially careful while signing up for low APR cards. In general, banks that offer these low APR deals tend to make up for these losses by increasing the other fees that they charge for using their banking services. So, it is imperative that you read between the lines if you wish to get a better understanding of how the entire system works.

First of all, you must find out the duration for which the low APR is applicable. There are some banks that offer low APR cards for life; these cards are generally given only to those with an impressive credit history. So, before you fill up the form you must first ensure that you are eligible for this card. You may even get a low APR card with a not-so-good credit history, but that would be applicable only for a short span of time. These short-term offers would be of no use. So, it is important to find out the duration of this introductory offer as well as the interest rates that would be applicable after this period.

It is important that you understand everything about the low APR, annual fees, as well as the other charges before you sign up for the card. Sometimes, banks waive off the annual fees only during the first year and this is one feature that is usually unavailable on most of the low APR cards.

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.