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Low APR Credit Cards or 0 APR Introductory Which is Better?
Comparing low APR credit cards to all the 0 APR Credit Cards can be a long and troublesome chore and you may still have problems deciding which one to choose from. When you see all of the various incentive programs, rewards, and, of course, the 0 APR feature you may think you should jump in and get that card before the offer expires. But are the benefits really worth the price you will have to pay after the introductory offer expires or are low APR credit cards instead a better choice?
First, look at the incentive programs offered by the various companies. If you do not travel all the time, then one with rewards of air miles is one you can ignore, and so on and so forth. If you are just trying to decide on a regular credit card without all the free incentives that you can earn and you just desire to learn if low APR credit cards or 0 APR Credit Cards are better, then you can now compare these two types of offers.
So ask yourself these questions: -Do you wish to have a credit card to purchase something expensive that you cannot afford without putting it on credit? -How long will the 0 APR last? -After the introductory period ends, how will the APR change? -Are there membership fees, annual fees, etc
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If you really need to buy something expensive then the 0% APR can look very appetizing, however if you will not be able to pay off your purchase by the end of the introductory special, you may learn that you will be paying more in the long run with higher interest rates. If you buy something expensive with a low APR credit card, of course you will have to pay interest, but the APR will not rise drastically after the introductory special. This can make a big difference if you do not pay off the debt within the timeframe of the introductory offer only to be left with a much, much higher APR to pay off. The low APR credit cards have the advantage of a sustainable APR and may even save you more money over time.
Remember, the introductory special will not last forever, most credit cards companies have introductory APR offers that last from 3 months to as long as 15 months. Then you will go to a higher APR. Therefore, low APR credit cards might, in fact, be a better solution for some consumers.
The best way to decide is to calculate the big purchase that you wish to make, see how much balance you will have left on your card when the special APR is gone and then see if it is still lower than what you will pay with low ongoing low APR credit cards.
Most importantly, regarding any credit card offer, you need to learn to ask questions and read the fine print. Are there any other fees that apply with low APR credit cards? It is always best to choose a credit with lower fees, lower interest rates and of course one that will fit your needs. Low APR credit cards do not change once the introductory time period is over which is a very big plus.
Finding the Best Mileage Cards
You may notice all the great incentives that the major airlines are offering with their own mileage cards, however, you may learn if you investigate a bit more than you can find some even better deals for your choice of mileage cards. Many people are now choosing these mileage cards over the major airline cards and with good reason.
The mileage cards that are so popular are the ones that allow you to earn air miles or points when you make purchases with your mileage card, sometimes even doubling the benefits. What this really means is that you, in some cases, can earn points in two separate ways on the same flight, if you use your mileage card to book the flight. These points or air miles that you earn are not just good for redeeming toward an airline ticket but can also be used for hotel accommodations or car rentals. Some of these unique mileage cards can earn you points when you purchase items from some retailers and even food at restaurants that have nothing whatsoever to do with your trip.
There are four major types of mileage cards, which people use when traveling. You may wish to choose a mileage card that has collaborated with your favorite airline or hotel chain. If you only use one airline or prefer a certain hotel, this is probably your best bet. Even major credit card companies such as Visa, MasterCard, Discover, American Express, and Diners Club also offer mileage cards with many great incentives and benefits and normally have more freedom when it comes to choosing an airline or hotel for your stay. Your own bank may also offer mileage cards with their own set of benefits. Some people just prefer to use their debit card, which normally does not have any type of rewards for benefits.
It can be very hard to decide which mileage cards are best for you and your particular lifestyle, so you may wish to read all the fine print to learn about the pros and cons of each mileage card before you apply.
As for airlines that offer mileage cards, American Airlines and United Airlines, both offer mileage cards. American Airlines along with Citibank offers the AAdvantage mile program. With this mileage card, you earn one AAdvantage mile for every dollar you charge on your mileage card. The United Airlines Card is known as the Mileage Plus First Card, which offers close to the same. Other airlines that also offer mileage cards include Northwest with the WorldPerks Visa and Delta Airlines with the American Express Optima.
There are many great incentives and benefits offered with mileage cards but these are usually only for people that travel quite a bit. The fees annually can be very expensive from $25 to $125. Not only are the annual fees more expensive but the interest rates are normally around 17% as well.
Now you must decide whether your travel habits will aid you in receiving the benefits from mileage cards so you can earn that great vacation.