Low Interest Visa Cards for Flexibility and Convenience

2007-03-08 10:33:40

( Financial )



Low interest visa cards are a great alternative to using cash in your daily transactions. Credit cards in general offer you great convenience because you don’t have to carry a lot of cash around to be able to buy gas, commute and shop.

Credit cards give you the capability of buying things from the internet as well. And with credit cards, you have a better expense accounting tool because your credit card company will send you bills summarizing your transactions every month and even a year-end summary of all your expenditures using the card. This is especially helpful for tax purposes. Indeed, credit cards are a great convenience.

But credit cards have interest rates. For the convenience of cashless transactions do not come free. When you make a purchase through your credit card, you are effectively borrowing money from the credit card company to pay for the transaction. For this loan, interest is incurred, just like any of the regular loans.

You can save on interest payments, however, if you choose low interest visa cards. Low interest visa cards will give you all the convenience of the credit card but at a lower cost to you. When you avail of low interest visa cards, you get to use your revolving credit line at a lower rate of interest than what the other credit cards charge. The cost of convenience is not as prohibitive as it usually is.

There’s one other alternative to low interest visa cards, however, that you may also want to check out. There is such a thing as a no interest credit card. A no interest credit card is one that gives you all the convenience of cashless purchases and transactions, at no extra cost to you.

A no interest credit card apparently beats low interest visa cards. But this is not always true. A no interest credit card usually requires you to make a full monthly payment. A no interest credit card is therefore better suited to those who just don’t want to carry cash around but have ample resources to make full payments every month. Low interest visa cards, on the other hand, usually require monthly minimum payments. It is better suited for use on major purchases that you cannot currently afford yourself.

To sum up, if you want to have the convenience of credit cards with the flexibility of monthly minimum payment options, you will find low interest visa cards very useful.


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