Tag Archives: low apr
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
?
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.
Avail Low APR Loan to take care of short term finance crunches
Taking loans means a costly affair and yet another financial burden on oneself. Before availing a loan, one should first calculate the cost of availing that money. This entire financial exercise will provide a clearer picture as to how much extra a person will be paying in order to handle a particular emergency or requirement through the loan.
People are on a look out for a low apr loan which means a low annual percentage rate of interest. The lower the rate of interest,the cheaper the loan. These days people find it convenient to avail loans through online money lenders.
Most of the online money lenders offer instant unsecured loans and pay day loans. The most vital criteria for availing such loans are
1.The loan borrower is a resident of UK 2.The loan borrower is above 18 years of age 3.The loan borrower operates a bank account 4.The loan borrower has a source of regular income
Once the person interested in availing loans puts in an loan application online. He can wait for the loan approval which is usually done with 24 – 48 hours and can enjoy almost instant credit of the loan amount into the bank account. These unsecured loans are usually approved without much delay and without asking questions of any sort.
Low apr loans are suitable for tiding over minor cash crunch situations such as repair of a vehicle, a boiler repair or payment of credit card dues to name a few of them. The low apr loans are issued for short periods say 2 3 weeks maximum. In most cases, the borrower has to repay the loan by the next pay day, if a pay day loan has been availed.
With a large number of online money lenders ready to offer loans, it would be wise to collect as many online loan quotes and compare them before choosing the most suitable one. Most important points to check out for include
Rate of Interest charged Loan repayment schedule Loan repayment amount Terms and Conditions Default Terms and payments
At a future date, repayment of Low APR loans should not cause a problem. The borrower should be confident of repayment the loan instalment amount within the predetermined term. In case of a delay in payment or default, the penalty along with the loan amount is likely to be very high, leading to additional financial burden on the borrower.
Availing Low APR Loans is easy and feasible. The presence of large number of money lenders online does simplify the task of availing loan as fast as possible. At this point it is crucial to look out for the lowest APR Loan available in order to lower the financial burden.