Getting a low intro APR credit card can be somewhat of a challenging these days. Thanks to the current economic climate most of the world, particularly the US, is experiencing some what of a “credit crunch” in which lenders are hesitant to open new lines of credit, especially with low introductory APR. There have even been reports of people getting credit card offers in the mail with annual percentage rates as high as 78%. The good news is that it is possible to get a low intro APR credit card if you know where to look. Here are a few cards that you may be interested in if you’re looking for the lowest intro APR around.
Capital One Platinum Prestige Credit Card
Capital One bank offers the widely praised Capital One Platinum Prestige Credit Card which falls into the MasterCard category of credit cards. It has an introductory APR of 0% on balance transfers and purchases until May 2013. No that isn’t a typo, it really is 0% for over a year. After that time period the APR becomes 10.9% to 18.9% which is fairy typical for people with an average credit rating.
In addition to an outstanding introductory APR this card also has many other benefits as well when you first sign on. There is no set up fee, there is no annual fee, and the late payment fee is only $35. It also has a zero dollar fraud liability policy in case your card is lost or stolen. This can give you a huge amount of peace of mind if you do lose your card somehow. The card also comes with 24-hour roadside assistance and 24-hour travel assistance which gives you a new card and cash advance if you need it.
Overall this card is pretty amazing, especially when you first get it. Also don’t forget that you can choose a custom image for your card as well if you’d like to personalize it.
Citi Platinum Select Visa
If you’re not a fan of MasterCards you can always try out the Citi Platinum Select Visa card. This is another low intro APR credit card and also features a spectacular introductory annual percentage rate of 0%. Even better is that instead of having a fixed date as to when the normal APR takes over this one gives you an introductory period of 21 months, close to two years. If that wasn’t amazing enough you’ll be glad to know that their late payment fee is only $15, significantly lower than many other cards.
While this card does have a ton of benefits upfront there are a few things to keep in mind. The standard APR that you’ll be charged after the first 21 months is 11.99% to 21.99% which may be a bit higher than you’re used to depending on your credit score. Default APR is also 29.99% as well so keep that in mind.
This low intro APR credit card has no annual fees or start up fees either which is a plus and features Citi Identity Theft Solutions in case you’re worried about identity theft. It also features 0% liability on unauthorized purchases. One more thing to keep in mind is that this card does come in a virtually identical MasterCard variant if you do like MasterCard better than Visa. All these information are also available in the Cvv Store.
Discover More Card – Balance Transfer Fee
This card may have an odd sounding name but it is also an incredible low intro APR credit card. The intro APR is 0% which lasts 18 months on balance transfers and 6 months on purchases then goes up to 10.99% to 20.99% depending on your credit. While this may not seem as good in comparison to other low intro APR cards the Discover More Card – Balance Transfer Fee really shines in regards to its bonus offers. It offers 5% cash back bonuses for things such as restaurants, gas, department stores and more. It also has an account manager which can be accessed in the US in less than 60 seconds 24/7.
In addition to these great perks this low intro APR credit card also has $0 fraud liability protection and gives you automatic fraud update alerts via email and mobile phone. There is also no annual fee and no rewards redemption fee either. Discover has also ranked #1 in customer loyalty for over 15 years in a row by the 2011 Brand Keys Customer Loyalty Engagement Index report.
Capital One Cash
Another great Capital One card of the MasterCard variety is the Capital One Cash. This is another low intro APR credit card that focuses on rewards programs. The intro APR is 0% and lasts until February 2013 after which it becomes 12.9% to 20.9% which is pretty standard for a heavily rewards based card. It also has no annual fee and is features a customizable look.
The rewards are pretty nice. You automatically get a $100 bonus after you spend your first $500 in the first three months. On top of this you also get 1% cash back on all purchases and a 50% bonus on all cash back bonuses every year. These cash rewards don’t expire and can be redeemed anytime for any amount.
Conclusion
The banks keep all the records and pay attention to all the accounts they have, like which account has regular monthly income credited, which has big accounts being credits but not regularly, all the transactions and according to that they provide you bonuses and interests.