Low Interest Rate Visa Cards Come In Two Forms

2007-03-08 10:33:40

( Financial )



In picking a credit card, you may be attracted to credit card low interest features as mentioned in their advertising copy. The ads usually talk about low interest cards or 0 interest cards. Low interest rate Visa cards and low interest Mastercards are popular versions of these offerings.

Your credit card actually comes with several different interest rates. When you apply for a card, you should find out the rates charged for balance transfers, new purchases and cash advances. These rates can be very different.

If you carry substantial credit card debt, you may want to transfer these balances from high-interest rate cards to low interest cards. In that case, a low interest rate Visa applicable to balance transfers would be suitable for you. Note that the low interest rate Visa offer may be good only for a short time. Also, that purchases and cash advances will be subject to higher interest rates.

Although temporary, this low Visa interest rate should still interest you. You can try to pay off the transferred balance before the promotional period ends. You could always transfer to another low interest rate Visa card issuer and enjoy another promotional period.

If periodic transferring to another card is not to your taste, you can try the low interest rate Visa that comes in another form. Instead of 0 interest cards on balance transfers, you can get low interest cards where interest on balance transferred is about a third of standard rate. This modified low interest rate Visa is fixed for the duration of card’s life.

You should manage your low interest rate Visa carefully. Your low-rate offer could easily be canceled if you do not comply with terms and conditions. These conditions are in the fine print of your credit card agreement, so make sure you meticulously read all of them, especially on late payments.


All rights Reserved © Tradenet Services srl
Do not duplicate or redistribute in any form.