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Choose the Best Low APR / 0% Credit Card

Choose the Best 0% & Low APR Credit Cards...Here's how to pick the best low interest rate credit cards...

These days the credit card market is flooded with low interest and 0% APR credit cards. Almost every credit card issuer provides some type of special zero rate or low APR promotion. So how do you choose the best offer when they all seem to include the same features and benefits? Here's some factors you should consider when choosing the best 0% / low APR credit cards:

Factors To Consider:

In most cases, credit cards featured on our site offer either a low interest rate, 0% APR, or both. When trying to choose the best offer, the first thing you should ask yourself is which is more important: getting the lowest interest rate, or having the longest 0% introductory APR?

If you're transferring an existing credit card balance, a longer 0% APR is almost always the best option. Since you won't be paying any interest on the debt you transfer, you could save more money with a longer intro (depending on how much you transfer). It's also great if you plan on making purchases right away and paying them off before the introductory period is over.

If you're looking for a credit card for long-term charges and don't plan on transferring any existing balances, then a lower interest rate might be better for you. Keep in mind that the best type of offers provide both a 0% APR, and a low interest rate after the introductory period is over.

* Still confused, see our article, "Low Interest Vs. 0% APR".

When comparing low interest -or- 0% APR credit cards, here are the most important factors to consider before you apply:

  • Intro Length: Look for the card with the longest introductory period. The typical length is anywhere from 3 to 15 months. If a 0% offer is available and all other factors are equal, consider it first since you'll save the most money during the intro period.
  • Ongoing APR: What is the APR after the introductory period is over? Are there different APRs for cash advances and new purchases? Find the credit card with the lowest interest rates to save the most money over time.
  • Fees: What fees are associated with the card? Is there an annual fee? Is there a late payment fee? Find the credit card with the lowest and least amount of fees.
  • Grace Period: This is the length of time from the date of a purchase until interest is actually charged. The average length is about 23 days. If you're transferring a balance, then it doesn't apply. The longer the grace period-- the more time you'll avoid interest charges.
  • Rewards: Does the card have any special rewards or rebates programs associated with it? Depending on your spending habits and interests, these rewards can really add up.

Getting the Best Rate:

Take advantage of 0% APR credit cards whenever possible! It can make a big difference in how much interest you'll pay over time. But before you apply, make sure your credit report is accurate and in good standing. Since most credit card issuers use your credit report to determine which APR you qualify for; the better your credit - the better rate you'll receive after the intro period ends. Even though our site (or other credit card sites) might display a specific interest rate for a credit card, you may not qualify for the APR shown if your credit is bad.

* See a complete list of 0% APR and Low Interest Credit Cards >

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