Pay Less to Carry a Balance With a Low Interest Card
Low interest credit cards are exactly that. They have lower Annual Percentage Rates (APRs) than most other credit cards, but usually at the expense of less features, though not all the time. There are a few select cards out there that have great rewards and low interest rates, but if your credit is good enough to get one of these select cards, odds are you don’t need to concern yourself with just about all of this article.
A typical low interest card will have a 0% APR for up to a year, and then a standard APR of somewhere between 11% and 16%. For example, the Chase Platinum Visa card has a full 12 months of 0% APR, and a standard APR of 14.24%, with no annual fee. There are lower APR cards than this specific one out there, but this card can be acquired with good credit, while the rest almost always require very good to excellent credit. Some recent offers have even increased the introductory time period to 16 months, equating to an additional 25% in interest savings.
As a comparison, let’s look at a rewards card. The Hilton HHonors Platinum Rewards American Express card offers wonderful...
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