Credit Cards: Low APR vs 0% APR

Mano y mano, Which one is better do you think a credit card with low, ongoing APR or one that offers 0% APR as an intro rate?

There are so many types of credit cards that offer all sorts of promotions and rewards that its definitely hard for a consumer to pinpoint which one would best suit their wants, needs and present financial situation. If, however, youve already managed to reduce your choices to just two and the battles simply between the low ongoing APR credit card and the 0% APR intro rate credit card then here are several tips to help you determine which one is the best credit card for you.

Are You Planning To Buy Anything Expensive Yes, the words zero percent can certainly be dazzling to the eye but is it something you really need? If youre planning to buy something very much expensive and thats beyond your budget then yes, it might be better if you go for a 0% APR intro rate credit card just as long as youre sure youll be able to pay off the full amount before the introductory period is over. Because if you cant and you dont, then whats the use of having 0% APR in the first place?

How Long Does The Introductory Period Last Generally, for credit cards offering 0% APR intro rates, the introductory period usually lasts from ninety days to fifteen months.

If youre going to purchase something expensive but you dont think you can pay it off before the introductory offer expires then its time to bring out your calculator once more. Compute how much your balance would be after the introductory period and see if its still lower than what youll pay with a low ongoing APR.

What Would The APR Be After The Introductory Period Going back to the previous situation, lets just say that you dont think youll be able to pay off the full amount in time. If the new APR is higher than what other low ongoing APR credit cards are offering then maybe, having a 0% APR intro rate credit card isnt the right credit card for your needs.

Are There Any Other Fees To Pay Whether its a 0% APR intro rate credit card or a credit card with a low, ongoing APR, dont forget to ask if there are other fees to pay. Naturally, its better to stick with the credit card with lower fees.

Michael Colucci is a technical writer for Low Interest Credit Cards and Credit Card Facts

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