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Saturday, December 13, 2008

Apr Balance Card Credit Low Transfer

By Gugu Martini

Despite the often bad publicity credit cards receive, they are extremely useful but the amount of interest you pay can be a deciding factor on whether or not a particular card will be of benefit or not. If you are not in a position to pay off the balance on your credit card when the statement comes in each month then you will need to find a low APR credit card to help manage the payments.

The APR or annual percentage rate is the best overall guide to how much interest you will pay each month and is based on how much interest you will pay over a twelve month period. The APR on credit cards is usually calculated monthly based on the current amount in the card and the monthly interest is calculated as if the current card balance would remain the same over a year; the interest on the amount over a year (APR) is worked out and divided by 12 to give the monthly interest. It is the law that all lenders tell the client what their APR is before signing any agreement.

Every credit card issuer will have their own financial arrangements and terms but by choosing a low APR credit card it will help to lower the amount of interest paid each month. Low APR credit card is a good choice for those people who are into a tighter financial budgeting as being the most important attribute of a credit card, APR determines the significant balance over a longer period of time.

Most credit cards that offer a low APR will be found online so if you are looking for one, this is the place. People on stricter financial budgets will be better off with a fixed rate credit card as the interest rate will not vary and will help better manage their financial commitments each month.

Be aware of other fees and charges that might be added, although some are voluntary like the inclusion of a payment insurance which can guarantee the monthly minimum amount owing will be paid. Whatever charges are made, make sure you are aware what they are and whether or not they are optional as low APR credit cards will often have these attached but if you check the terms and conditions you should see them listed.

If you are now seeking for a low Apr credit card you may begin looking for a scheme that could help you save hundreds in interest with a low interest credit card and low cost processing. In fact many credit cards offer a zero percent interest rate on purchases during the first six months of use and no repercussions if the card is used by an unauthorized person.

As an incentive some will just provide a zero interest rate for transferring a balance for all the time the balance is being paid off but will charge interest on all other transactions. Credit cards are one of the easiest ways to improve or even start your credit history as the regular usage is recorded and the information passed on to the agencies that control credit ratings.

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