Who else wants to save money with Low Interest Credit Cards

Are you paying to much in credit card interest? You're not the only one. Most people carry over $2000.00 on their credit cards, and could be paying over 20% interest each year on that money. If you can cut your interest rate in half, and have more of your credit card payments go towards paying down your balance each month why wouldn't you? That's exactly what you can do with low interest credit cards. It's just a matter of learning about the different options available and picking which card is right for you.

This website is dedicated to helping you save interest charges on your credit cards each month. Spend some time reading up on low interest credit cards, as well as annual fees, and balance transfers before you make your decision. There are a lot of companies that want your business, but no one card is right for everyone. After you spend some time on my site you should be able to choose which card is right for you by evaluating different low rate credit cards against each other.

So How low is low...

A good question, how low of an interest rate does a card need to have to be classified as a low interest credit card? Truthfully, I guess the answer here is in the hand of the card holder. As a rule of thumb I consider anything under a 10% standard rate on a card to be a low interest rate credit card. The competition in this sub 10% rate is becoming quite fierce as more companies are competing for your dollars against home equity loans and lines of credit that are prime plus.

No, all low rate credit cards are not equal. There are several things you should compare when deciding on which low interest credit card to apply for.

1. Is the low rate an introductory offer or is it the standard rate for that credit card?
2. Does the low interest rate cover all aspects of the card? (balance transfers, cash advance etc.) If it doesn't what are the rates for the other aspects of the card.
3. Does the low interest credit card have an annual fee associated with it? Fees aren't bad but don't pay more then you have to.

It's important that you take the time to compare low interest credit cards against each other for more then just the interest rate.

What to be careful of with a low rate credit card

Credit card companies aren't really sneaky, but it's worth mentioning a couple of things you should watch closely. The first is introductory versus standard rates. Some low interest cards post a introductory low APR credit card rate only to raise that rate after 6-12 months. Now this isn't all together bad, especially if the introductory is 0%, how ever make sure you know where the rate is going to go after that introductory period.

The second item to take note of is the annual fee. Again, fees aren't always bad. Most low interest credit cards do have a small fee associated with them. How ever don't over pay, and be sure you know that if you don't have a fee the first year, will you have one the second year? Often times low rate credit cards will waive the fee the first year to get you as a customer, but the following years there is a nominal annual fee to hold the card. No annual fee credit cards often are not also low interest.

A good low interest rate credit card should be under 10% interest as a standard rate. This is a low enough rate that you'll be saving half the interest most people get charged on their credit accounts. If you currently have other cards it's a good idea to try and find a card that offers a low or 0% balance transfer introductory rate. You'll find some card companies will over this rate for up to 12 months, the longer the better.