A person’s top priority during this time of economic crisis should be maintaining a good budget. The most trivial thing to factor in your daily life is debt most especially when one of the main modes of payment acceptable in your location are credit cards. When the bulk of monthly balances constantly increase, it is best to seek out ways to lessen the burden of the debts in life by searching for the best low interest credit cards available in the market.
Plenty of cards nowadays are available in the market with very low rate features, some even offering benefits like cash backs, introductory rates and rewards. This is a big advantage to those who plan to carry a certain amount on a card.
There are a number of credit cards in the market that offer an interest-free period and after which, they are requiring you to pay an annual percentage rate (APR) which automatically reflects on your balance. Credit cards with a fixed APR rate of 6.5% are relatively low compared to other competitors. This type of card also offers a 0% interest on balance transfers for the first six cutoff billings and do not ask for transaction fees for doing such transfers. Through this kind of arrangement, customers become somewhat comfortable in spending during the introductory months.
When you want to avail of low interest credit cards, you need to be vigilant with how you set your limitations or maintain a certain amount of purchase. You must take into consideration the Annual Percentage Rate that is used to compute the total amount of interest that you are paying. This will help you determine if you should leave a certain amount after the introductory interest-fee is over. But other than that, you are simply free to choose the best card that can provide you with the best perks which will best fit your financial practices.
When you have had your pick of the credit card that offers the lowest interest, you can now transfer your balance to the new card and still maintain the older one for emergency cases. If you think you can no longer afford keeping the old card, it would be best for you to cut it to prevent future debts. This will indeed be a wiser option to consider after all, if you do not do this, you might one day find yourself in a bigger dump than the one that you are already in.