Low Fixed Apr Credit Card

  Low Fixed Apr Credit Card  - Various APR's of the Chase Freedom(SM) Cash Visa(R) Card  - Jun 29, 2007  

The Chase Freedom(SM) Cash Visa(R) Card offer terms mention the APR as 14.24 variable. However a look at the terms and condition of this card and you find that there is a lot more to the APR's than this figure. Let us analyze it a bit more.

APR stands for Annual percentage rate. It is the interest rate that credit card companies charge on the outstanding balances. The first thing to note is that the APR is available for three different pricings. The Elite, the Premium and the Standard. The APR varies for these three pricing range. The Chase Freedom(SM) Cash Visa(R) Card has a 0% fixed APR for the first 6 billing cycles for the Elite and Premium pricing. After this 0% intro APR period is over the APR will change to 14.24% variable for Elite pricing and 18.24% variable for Premium pricing. The main point to note here is the APR's for Standard pricing. For this category there is no 0% intro APR period and the APR rate is 23.24% variable from the day of account opening.

The credit card issuing company first considers for the pricing with the lowest rates. Depending on a review of your credit history and other information a person can get the Chase Freedom(SM) Cash Visa(R) Card at the lowest rates or alternative rates. The credit card company if finds that a particular applicant is not suitable he or she might not be allowed to open an account.

The second thing to note is that all these APR's except the 0% Intro APR are variable. A variable APR means that it can vary over a period of time. The variable APR is tied to the prime rate. The "Prime Rate" is the highest prime rate published in the Money Rates column of The Wall Street Journal two business days before the Closing Date on the statement for each billing period. Variable APR's are based on the 8.25% prime rate on 07/05/2006. The variable APR is an APR rate added to this prime rate subjected to certain minimum.

In addition to the above APR's the Chase Freedom(SM) Cash Visa(R) Card comes with the following APR's

Balance Transfer APR:

Elite and Premium Pricing: A 0% fixed APR for the first 6 billing cycles following the opening of account. After that, 14.24% variable for Elite Pricing, or 18.24% variable for Premium Pricing. Standard Pricing: A 0% fixed APR for the first 3 billing cycles following the opening of your account. After that, 23.24% variable.

Cash Advance APR:

Elite and Premium Pricing: 24.24% variable. Standard Pricing: 28.24% variable.

Default APR:

Up to 32.24% variable.

The issuers of Chase Freedom(SM) Cash Visa(R) Card can apply the default APR in any of the following cases:

If the credit card company doesn't receive, for any payment that is owed on this Account or any other account or loan with us, at least the minimum payment due by the date and time due

If the card holder exceed your credit line on this Account.

If a cardholder makes a payment to the issuing company that is not honored by the cardholder's bank.

By now it might be obvious to you how important it is to read the terms and conditions of any credit card before deciding on it. This can give you a fair idea about how your APR will vary, when you use the credit card. This can save a lot of frustration and money for the credit card holder.

  Low Fixed Apr Credit Card  - 2 great low rate balance transfer credit cards with exceptional features  - May 31, 2007  

Gone are the days with 0% APR's on balance transfers. The feature was misused so much that credit card companies thought it best to revoke these offers. The reason could be the loss of revenue to credit card companies but this habit of transferring balances frequently and avoiding the debt repayment was increasing the volume of credit card debt. Balance transfer is a good practice if done with caution and restraint. Here are 2 good credit cards with low APR rates on balance transfers.

1. Advanta Life-of-Balance Platinum Card

This credit card issued by Advanta is very popular among the balance transfer community. The reason being that it offers a low 2.99% Fixed APR for LIFE on balances transferred within 3 months. That is an offer which few credit card companies can match. With this excellent balance transfer rate the Advanta Life-of-Balance Platinum Card offers Up to 6% Cash Back or Travel Rewards. The credit card has No annual fee, and the reward program has no limits on earnings. On the whole a good credit card to transfer the balances.

2. Blue Cash from American Express®

This credit card issued by the credit card giant American Express has No annual fee. Coming to balance transfers, the Blue Cash from American Express has a low balance transfer rate. The APR for balance transfer is 4.99% fixed for the life of balance. Another good feature of the Blue Cash from American Express is that it is a 0 Intro APR credit card. It has a 0% intro APR rate for 6 months. The reward program of Blue Cash from American Express gives Up to 5% Cash Back with Unlimited Cash Rewards. This entitles the credit card holder to earn an unlimited cash back on his spendings.

These two credit cards help save the things for those who want to transfer their balances from a high APR credit card and want a good alternative which can save them their hard earned money. The additional benefits that come with these credit cards make them more attractive. However, the thing to note here is that the APR's on balance transfers and other terms associated with these credit cards are totally at the discretion of credit card issuing companies and can change without any notice. These rates were good at the time of their review in this article. Latest on these credit cards can be had by visiting respective websites.

  More Articles on - low fixed apr credit card