subject: Compare Credit Cards Apr [print this page] Have you ever been called a shopping freak or a spendthrift among your friends? More than nominally, do you like buying very next good thing you see through the glasses of a showroom. Well, in this consumer driven era of the market, all the dreams can become true even if your pockets are smaller than your dreams and all this is made possible through credit cards. But have you ever wondered about the real statistics and calculations about the credit that is levied on you in return of the credit. What has added to the craze are the blossoming zero APR cards. What we intend to bring forward is the actual meaning of APR, the ZERO APR cards and the myths and a brief compare credit cards apr readily available.
What Is APR? How Does It Affect Your Credit?
The APR or the Annual Percentage Rate is the amount you will pay as interest at the end of each year. This is the extra amount one pays if the full amount is not paid at the end of each month. But its not that simple. This greatly affects your pocket. For example if the APR offered is about 12-15 percent, your overall credit will increase about $500 for $1000 credit. Not to forget the hidden APR rates and also that the APR rates keep on changing according to the Federal Reserve Rate. It would be wise to keep an eye on it and get informed.
The Big Fuss about the 0% APR Cards
Well these are the credit cards which are given with an introductory offer of 0% APR for a few months however its not a forever deal. In a few days you will surely get into the trap of the interest payments.
One must also consider the introductory balance rates and rewards if applicable. As good will be your credit record, better will be your rewards, offers and low interest rates.
Comparison Among The Major Credit Cards
Low APR Rate Cards: The major cards with the lowest APR interests are Sainsburys Low rate credit card, Barclaycard Platinum Simplicity, Capital Ones One rate and Lloyds TSBs Advance Master card. All of them have an APR rate of less than 12 percent. They have comparable introductory offers for a considerable period of time.
0% Purchase Cards: The Halifaxs All in one card(Master card) tops the list with balance transfer intro offer for about 15months however the APR rate is quite high, i.e. 17.9% and which variants accordingly. One can also consider Virgins Purchase Credit Card, Creation Purchase Card, AA Rewards Credit Cards
Cash Back And Reward Cards: If you are more fascinated about the rewards this list will help you. The American Expresss Platinum Cash Credit card, Capital Ones Aspire World, Santander 123 credit card etc.
