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Good Credit Reward - Saving on Lower APRs

Jun 6, 2008
Consumers find themselves faced with a plethora of choices when shopping for credit cards in today's market. You will find a variety of credit cards that have vastly different interest rates available. Perhaps the most important thing to consider when shopping for a new credit card product is a low APR or Annual Percentage Rate. Not only will a lower APR save you money on your credit card purchases, it will also help reduce your monthly payments, making it easier to pay the bills.

A credit card with the lowest APR available is always a good investment for most people. Higher APRs are not very attractive to anyone, and most consumers with a good credit rating should be able to qualify for a lower rate. The lower the APR usually means that you have better credit. The APR means the annual percentage rate. You won't be paying the total APR on your balance every month, though, as it's an annual rate. Also, the APR typically varies by transaction type, with cash advances typically being charged a higher rate than purchases. This rate is going to be different for everyone. One person's low APR credit card interest rate may be lower than someone else's. It will depend on their credit report and what their credit score is.

Any rate from 0% to 9% APR on a credit card is considered very low these days. These are great rates that you should quickly take advantage of. Any time you can get a credit card with these rates, you should take it, and you may even want to do a balance transfer from a card with a higher rate to this type of card. This will allow you to save money each month when and put the interest you save toward paying off your balance more quickly.

There are many people who will use their 0 APR balance card for the more expensive purchases or for everyday use. Because they may not have the cash to pay off the balance right away, they will pay off what they can each month and find that the balance is not getting higher because of the low annual percentage rate. This would be a wise financial decision to make.

Anyone can get a low APR credit card as long as they are willing to make good, solid financial choices that they can feel confident about. When a person is able to keep up with their payments and keep their credit score up, they will eventually be qualified for this great rate.
About the Author
Lando McGehee shares his vast knowledge at http://www.everlife.com. More knowledge, more power, more success when you better understand the subject of 0 apr balance transfer offer .
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