Low Interest Credit Card Offers

APR or Annual Percentage Rate is the yearly interest rate on your credit card. The banks distinguish introductory, ongoing, fixed and variable APRs; APR on purchases, cash advance APR, penalty APR and so on and so forth. Many credit cards have a grace period for new purchases. If you make purchases and pay the card balance off by the due date, you won’t be charged the interest. To find out what your interest rate on a credit card will be, look at the credit card offer. You will see one particular APR or a range of APRs. If you see the range of interest rates, your APR will be determined by a credit card issuer based on your creditworthiness and after you submit your application.

Credit cards can come with interest rates below 19.99% and with 0% introductory APRs. An introductory period with a 0% intro APR varies from bank to bank but as a rule it is not less than six months. You can find a credit card with 0% intro APR for a year or more provided your credit is good enough to qualify. If credit card doesn’t have a 0% introductory APR your interest rate will be determined based on your credit score and creditworthiness.

The interest rate can be 0% but only as a promotional offer and for a certain period of time. People with excellent credit can get interest rate as low as below 10%. However, every cardholder can avoid interest payments if they pay off the card balance in full each month. Today almost every credit card has a grace period of at least 21 days during which you can pay off your credit card bill without having to pay interest. The grace period applies to new purchases only.