Credit Card Transfers with Low Apr
A Credit Article Contributed by Augusta Wilson
What is a Low Credit Card Apr?
APR is short for Annual Percentage Rate, and many credit card companies offer cards with a low APR. This is the percentage rate to which you balance on your credit card is subject. Many different cards offer different APRs, depending upon credit history. Having a good to excellent credit score will enable you to apply for a low APR credit card, which can save you a lot of money down the road.
How Can I Transfer My Existing Credit Card Debt to Get a Low Apr?
There a hundreds of offers on the internet, which can help you to transfer your existing credit card balance. Here are a few credit card offers with a low APR:
The Chase Cashbuilder SM Platinum offers 2% cash rewards on all purchases, and no annual fee. However, if you are planning to transfer your credit card balance, this card is ideal, with its 0% introductory APR.
Another great deal is the Chase Platinum credit card. It, too, has a low APR introductory rate, making it a great choice for balance transfers. Unlike the Cashbuilder card, however, this Platinum card has up to a $100,000 credit line- giving you perfect financial flexibility if you plan on transferring a balance from another card.
The Discover Platinum Clear Card is another great option, if you're in the market for another credit card to which to transfer your existing credit card balance. It, too, offers a very high credit limit- to qualified borrowers- which should make it more convenient to transfer larger balances.
The Citi Dividend Platinum Select Mastercard, issued by Citibank, has no annual fee, and card holders can earn up to %5 cash back on purchases. Like the other cards, it, too, has a 0% introductory rate and balance transfers are easy, and provides 0% liability on unauthorized purchases.
I've Decided on a Credit Card Offer with a Low Apr- Now What?
Once you have decided that you want to pay off your existing credit card debt, it's time to apply. As you are probably aware, most credit card companies offer online applications, making the application process easier. Alternatively, you can go the old fashioned route, and apply with a paper application, or via the telephone. The advantage to applying online or by telephone is simple- you will get an almost instantaneous approval. If you apply via snail mail, should your application for a with card be denied, a more detail reason for the decision may be included.
When you get your new card, it is important to make the balance transfer immediately, if you did not do so, during the application process. Remember- this new card is intended to help you save money, by subjecting your existing balance to a lower APR, not to provide you with another line of credit to run up! Likewise, try not to be tempted to run up the old card, once the balance is paid off. Put the old card or cards in a safe place, like a safe deposit box, or, better yet, destroy it and close the account.
Transferring an existing credit card balance is easy and can help you to better manage your financial future, by protecting your credit score and saving you money.
