Low APR credit cards feature the lowest interest rates on the market. Designed for customers with excellent credit, these cards are great for debt consolidation.
When choosing a low APR credit card there are several other factors to consider, like: balance transfer fees, credit ratings necessary to apply for a card, introductory rates, rewards incentives, and easy online account access.
Here are four credit cards that ranked highest overall in these factors:
Simmons First Visa Platinum
Excellent Required – applicants that do not have excellent credit will not be approved. Low 7.25% variable standard purchase APR and platinum benefits. No balance transfer for balances transferred in response to this online offer. No Annual Fee.
“Excellent credit required” I like that feature. A responsible credit user necessary to obtain the card. Platinum status I would assume means the travel insurance, car rental loss/damage waiver, and Emergency Cash & Credit card replacement services. With a $0 annual fee, no balance transfer fee during response to online offer, and low APR this is a good choice card. [Click to find our more about Simmons First Visa Platinum].
Simmons First Visa Platinum Rewards
Excellent credit required – applicants that do not have excellent credit will not be approved. Low 9.25% variable standard purchase APR and platinum benefits. Choose any U.S. based airline or ticket class. No blackout dates or seating restrictions. Other travel related options are hotels, cruises, vacation packages, car rental, and restaurants.
Again, excellent credit required. Nice. The APR is higher. Hmmm… Does this help the bank offset the Travel Rewards program? Cardholders who enroll in the program receive one point per net dollar spend. And the Platinum services describe in the previous card apply here, too.
If you’re consistant about paying off your card in full every month, this may be a rather good choice. But, from my knowledge, I believe you do not receive the ‘no balance transfer fee’ like the first choice. [Click to find our more about Simmons First Visa Platinum Rewards].
Orchard Bank Classic MasterCard
Acceptance at millions of locations worldwide, including website purchases and reservations. Your account information is updated and at your fingertips 24/7 so you can manage it your way. Email and text messages to remind you of your upcoming payment due date with online enrollment. On-call customer service representatives to assist you with questions or concerns. Various credit scores accepted for consideration.
On-call customer services reps, yes! I love a live person. Plus, the Orchard Bank MasterCard is offered by HSBC Bank. Reputable. But the Annual Fee… not so sure about that. Especially if I can’t rack up rewards. [Click to find our more about Orchard Bank Classic Mastercard].
Orchard Bank Visa Card
Acceptance at millions of locations including website purchases and reservations. Your account information is updated and at your fingertips 24/7 so you can manage it your way. Email and text messages to remind you of your upcoming payment due date with online enrollment. On-call customer service representatives to assist you with questions or concerns.
Live Customer service. Check. Low APR. Check. Annual Fee. Sigh. Again, no rewards. But with HSBC bank backing up the card, it is a psychological secure feeling. [Click to find our more about Orchard Bank Visa Card].
Conclusion: Credit Cards should only be used by financially savvy consumers. If you retain an excellent credit score and pay your credit card bills in full each month, then please consider these cards. If you need credit cards to buy things you cannot afford or use them to pay your bills, then please consider cutting them up and starting a journey to get out of debt.