Apply for a Low Interest Credit Card

Many credit cards offer a 0% or low APR charge for a set period of time. In fact, most cards have an introductory 0% APR for six to 12 months. A low interest card is one that maintains a low APR permanently, not just for some introductory period. These cards carry APRs of 7.99% to 9.99%.

Cardholders can often manage existing credit card debt more effectively by transferring it to a card with a low APR offer. However, there may be a fee for balance transfers even if no interest is charged. It is also important to note that some cards only offer low APR on balance transfers but some include purchases made as well.

When the introductory offer terminates, interest rates will apply — often without warning. The benefits of these cards are obvious and if used effectively can help reduce or eliminate debt. Cardholders should be aware of regular charges, including annual fees.