APR credit card tips

Low APR credit card

Low APR credit card

Credit card tips for students

In the recent years, the credit card specially tailored for college students has been increasing tremendously compared to 1980'. Many students are enjoying the new freedom lifestyle with the booming of credit cards designed for them throughout their college life.

Low APR or cash back credit card is always the main selling point for the banks to students. You actually can compare the benefits and features at many credit card review websites, the best is the credit card that’s offer both the zero interest and cash back. Most of these sites enable reviewers to apply a free membership for the first year to increase the sales of credit card. You can apply as many as you wish online to ‘test drive’ the features, but also remember to terminate the card when not in use to avoid paying membership fees for year to come.

Very often student will apply for the 0 interest credit card or low APR card that offers better purchasing power to card holder. Of course, there is nothing better than zero or lowered interest; some of the benefits other than just ‘zero interest’ as below

a) Lower interest translates to better purchasing power. Let’s say you purchase an item for $1000 using a credit card with 3% interest rate per year. This means we are paying $30 in interest to bank for every $1000 spent. With the zero interest rate, you are actually save $30 in a year

b) Saving money by paying less on the interest, you can do anything as you wish with the saving from the credit card interest

c) Low APR or zero interest credit card allows the card holder to clear debts at the faster rate. You can actually consolidate your debts by apply for a balance transfer from other banks to the new cards which offers zero interest. Plan you installments and see how the card works for you

Here also a gentle reminder to all students, low APR comes with time and history. You must be able demonstrate a responsible use of credit to bank by paying your installments on time without fail, a responsible credit user will always being granted with the best low APR credit card.