How to Compare Credit Card Rates Like a Pro
Applying for a credit card is more than just filling out the application and getting the first card that you are offered.
A card agreement is a contract, and you should try to get the card that offers you the benefits that you deserve.
Your credit history goes a long way towards determining your credit line and the credit-card rate.
The better you take care of your credit accounts, the better chance you have of getting approved for better, more lucrative offers.
Researchers have shown that most folks pay more attention to credit card rates the most before applying for a card offer.
A lot of card holders use their card to get cash back on their purchases.
A few others engage in credit card arbitrage.
Either way, your purchase and balance transfer APR plays a big role in determining what cards are right for you or your business.
Purchase APR is the annual percentage rate of interest that is applied to your outstanding balance every month.
The 0% APR purchase cards are very popular as they allow you to make your purchases without having to pay an interest for an introductory period.
If you are planning to buy a HDTV with your card, you need to make sure your introductory period is long enough for you to be able to pay down your credit card without having to pay a penny of interest.
Balance Transfer APR: getting a low balance transfer card allows you to transfer your high interest debt to a low interest account and save money in the process.
It's true that 0% balance transfer cards are often used for arbitrage purposes, but some folks transfer their car loans to 0% BT APR cards to avoid paying high interest on their balance.
Cash Advance APR: cash advances are used by folks to get short-term loans.
Credit card issuers often high rates on cash advances.
If you are planning to take cash advances on a regular basis, you need to make sure you apply for the card that comes with the lowest cash back offer.
Depending on your credit needs, you should choose and compare a selection of cards that give you the best APRs possible.
If you are looking to only use your card to purchase items, you can afford to apply for one that comes with a high balance transfer fee.
But if you plan to do transfers with your card as well, you should go for the card that provides you with the right balance of APRs.
At the end of the day, your focus should be to find the card that satisfy your needs and nothing less.
A card agreement is a contract, and you should try to get the card that offers you the benefits that you deserve.
Your credit history goes a long way towards determining your credit line and the credit-card rate.
The better you take care of your credit accounts, the better chance you have of getting approved for better, more lucrative offers.
Researchers have shown that most folks pay more attention to credit card rates the most before applying for a card offer.
A lot of card holders use their card to get cash back on their purchases.
A few others engage in credit card arbitrage.
Either way, your purchase and balance transfer APR plays a big role in determining what cards are right for you or your business.
Purchase APR is the annual percentage rate of interest that is applied to your outstanding balance every month.
The 0% APR purchase cards are very popular as they allow you to make your purchases without having to pay an interest for an introductory period.
If you are planning to buy a HDTV with your card, you need to make sure your introductory period is long enough for you to be able to pay down your credit card without having to pay a penny of interest.
Balance Transfer APR: getting a low balance transfer card allows you to transfer your high interest debt to a low interest account and save money in the process.
It's true that 0% balance transfer cards are often used for arbitrage purposes, but some folks transfer their car loans to 0% BT APR cards to avoid paying high interest on their balance.
Cash Advance APR: cash advances are used by folks to get short-term loans.
Credit card issuers often high rates on cash advances.
If you are planning to take cash advances on a regular basis, you need to make sure you apply for the card that comes with the lowest cash back offer.
Depending on your credit needs, you should choose and compare a selection of cards that give you the best APRs possible.
If you are looking to only use your card to purchase items, you can afford to apply for one that comes with a high balance transfer fee.
But if you plan to do transfers with your card as well, you should go for the card that provides you with the right balance of APRs.
At the end of the day, your focus should be to find the card that satisfy your needs and nothing less.
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