Low APR Visa Credit Cards

Seeking out the right credit card that has a low interest rate can be quite a challenge, especially if the applicant has a less than a perfect credit score. Most low APR credit cards like Visa require the applicant to have an excellent credit rating in order to take advantage of the low rates. Low APR Visa credit cards will typically have a low interest rate around 7%. However, applicants who do not have an excellent credit score will most likely be denied approval for these low rates. Low APR Visa credit cards will also have a no annual fee as well as no balance transfer fees.

When a credit card holder wants to transfer their current credit card balance over to a new credit card company, they should seek out the lowest rate possible on balance transfers. Credit card companies often provide no balance transfer fees along with a period of a 0% interest rate. This is an excellent opportunity for individuals to pay off their debt by not having to pay interest for a certain period of time. Low APR Visa credit cards will have a period of time where the account holder does not have to pay interest when they transfer a credit card balance.

For example, some Visa credit cards will charge no transfer fee and a 6 month period with 0% interest; this includes new purchases as well. After the 6 month period is over, the account holder will then be charged a low APR on their Visa credit card. The period in which the account holder will receive a 0% interest rate when transferring a balance will depend on the account holder’s credit score. In other words, the higher the credit score, the longer period of time the account holder will receive 0% interest.

By taking advantage of a low APR Visa credit card while transferring a credit card balance, the account holder will save significantly. The account holder will also have the option of transferring their balance to another low APR Visa credit card as well. By doing so, the account holder will leave a trail of paid off debt, as well as avoid higher interest rates when making payments. People who have bad credit will not experience the same low interest rates on a Visa credit card as those who have an excellent credit score. However, there are fairly low interest rates for people with bad credit as well.

People with bad credit should take the time to research credit card rates online in order to find the best rates possible. Those who have excellent credit should be aware of the introductory interest rate vs. the interest rate after the introductory period. Some low APR Visa credit cards will start their customers out with a low interest rate for a certain period of time. However, after this period of time is over, the customer may be forced into paying a higher interest rate that isn’t considered a low rate.

For example, some Visa credit cards that have a low APR rate will have a rate of 1.9% for 6 months. After 6 months, the rate may go as high as 19.99%, depending on the account holder’s credit. In order to take advantage of low APR Visa credit cards without getting caught with high interest rates in the future, the applicant must do their research and read the fine print. These higher interest rates after a low fixed rate period can be avoided through balance transfers. In other words, the process of transferring the balance of a credit card to another credit card can be performed more than once.