Low Interest Credit Card
Is there anything bad about a low interest credit card? No, but there are things to look for when shopping for one.
Low Interest, But What About Fees?
Almost every day your mailbox is inundated with credit card offers. There are so many credit card companies out there vying for your business that a common theme is a low interest credit card. And that's what the majority of consumers want. Rewards are nice, but generally the price of those rewards is too high.
When you're looking for a low interest credit card, make sure the low interest they tout isn't for a short period of time. And make sure that if they put "3.5%" really big that you read the small print too. Generally, it's something like 3.5% plus whatever the prime rate is. Then you have to look that up, add the 3.5% to it, and your low rate isn't so low anymore.
Also, make sure you don't have to pay an annual fee for this low rate. If you do pay a fee, see what you get for that fee. Is there some kind of rewards program? If so, how good are the rewards? Is it worth it?
The best way to find the best credit card is to compare different cards online. The offers you get in the mail are limited compared to how many you'll find on the Internet. And these are generally reputable cards. Chase, Citi and other big names have so many different credit card programs that you're sure to find one you like, and if it's backed by a name you know, you can't go wrong. Do your homework. Getting a good credit card isn't something to be taken lightly.
To take your time during your research for the best credit card for you means finding the one that will give you most back for the things that you would be buying anyway. It will also help you find the low interest rate credit card that you are eligible for.
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