Understand Interest Rates

All credit card interest rates will vary over the time you have it.  It can start at 0% during your introductory period and can get as high as 30% if you are not careful. Creditors use all kinds of factors to determined what your interest rate will be. Your income, assets and current debt load will all come into play at this point.  Even credit inquiries can be made along with your payment history and economic conditions to set your personal annual percentage rate.

So who receives the best or the low interest credit cards?  That would be the consumers with proven credit histories.  A fixed APR offers consistent rates, something you can count on over time where variable APR’s fluctuate since they are tied to an index being set you the Federal Reserve, often the prime lending rate. Interest rates are the basis of using a credit card so it is the main issue when choosing a card. Every card offers different rate and benefits so it’s us to you to do your homework and choose the card that fits your circumstances the best.