Low interest Rate Credit Cards Why So Popular!

 

For many people searching for a new credit card online, the annual interest rate, or APR seems to be the only important factor, and many will only check out low interest rate credit cards before making an online credit card application. Credit card issuers also tend to advertise the low interest rate credit card more that any other kind of card. But should low interest credit cards be the only ones on your list when searching for the best credit card deal to suit your personal requirements? Probably not. APR is not the only thing to look for when choosing your ideal credit card.신용카드 현금화

It may help if we start by understanding exactly what an APR (annual percentage rate) is and where its relevance lies. APR is quite simply the interest rate used by the issuer to calculate interest on the balance of your credit card account. This interest is then added to your monthly statement to form your new balance. Therefore a low interest credit card account would have less interest charges applied to it at the end of each monthly period, hence its popularity.

However, there are those who donýt really require low interest rate credit cards. This group are those who, for the most part will use their credit card in much the same way as a charge card, paying the full balance on the account on the due date each month. Remember that there are no interest charges added to your credit card account if you make the full balance on your statement by the due date. So it would make no difference what interest rate was applied if you were to use it in this manner. Therefore a low interest rate credit card would not be such an good deal to this group of card holders. These individuals are much more likely to be attracted by other card offers such as cash rewards or air miles rewards credit cards.

  For many people searching for a new credit card online, the annual interest rate, or APR seems to be the only important factor, and many will only check out low interest rate credit cards before making an online credit card application. Credit card issuers also tend to advertise the low interest rate credit card…

  For many people searching for a new credit card online, the annual interest rate, or APR seems to be the only important factor, and many will only check out low interest rate credit cards before making an online credit card application. Credit card issuers also tend to advertise the low interest rate credit card…