Low APR

Okay, so what does "low apr" really mean? It's simple enough to know that people want to pay the lowest annual percentage rate (apr) as possible because this is rate determines how much in interest payments they must pay their bank each month. A low apr is relative to your credit situation. If you have excellent credit, you may consider an interest rate of 8.99% as being low. Alternatively, if you have bad credit, you would probably consider an interest rate of 14.99% as being low. Of course, a 0% interest rate is low to everyone.

Part of responsible credit card management includes knowing the interest rate you’re paying. Credit cards with low aprs are typically for consumers who are opening a new credit card account. If your variable interest rate has increased, either due to the prime interest rate or if you have missed a credit card payment, then you should seriously consider switching to a balance transfer card with a low APR for interest savings. If you are really satisified with your credit card company, tou can also contact them and request a lower rate or your original rate. 

Consider the regular low interest rate too.

As we have mentioned in other sections, once you’ve found an attractive 0% interest card, pay close attention to the regular low APR that they will charge when the introductory period ends. Don’t get caught with a higher interest rate once the introductory period goes away. TheCiti® Platinum Select® Card, for instance, offers a 0% introductory APR for up to 12 months on both balances and purchases and then a low interest rate of just 7.99% thereafter. Balance transfer cards can be great tools but the credit card companies frown on making it a regular habit.  You can apply for the Citi Platinum or a variety of other cards in the convenience of your own home by completing and online application.  Many cards, such as American Express, offer instant approval in less than 60 seconds.