Low APR (Annual Percentage Rate) Credit Card is one of the most sought after cards amongst the credit card holders. It comes in two varieties where it can either be fixed or variable. The variable Low APR Credit Cards are the most available ones.
The Low APR Credit Cards are basically of introductory types where the low interest rates are charged for a very short period of time only. This limited time period is generally applicable from 6 months to 1 year. The low introductory APR in most cases range down to 0% p.a. Hence these cards are also called as 0 APR Credit Card.
But it would be erroneous to think that the there is no fees attached with the transactions. A transaction fee is mostly charged by the credit card company for transferring balance to the customer's credit card account.
When the transfer of balance has already materialized then the applicable payments will be in accordance with the Low APR Credit Card agreements which also includes the balances due to promotion. But the low or 0 APR would not be applicable for Cash Advances and Purchases.
Now, after the end of the promotional period, the Low APR will be scraped and the standard rate will be applicable for all new and all ready existing balance transfers. Thus, after the expiry of the introductory period, the 0 APR will convert to a variable prime interest rate on every purchases and transfer balance. In addition to this, the monthly payments of a minimum amount would have to be paid necessarily.
In case of Low APR Credit Card no annual fees are charged. This card also helps its customers in saving the daily expenditures related to grocery, gas, etc.
Many rewards like travel points, etc are also associated with Low APR Credit Cards consequently making it more attractive.
You may go through schwab.com and gemoney.com for more informations on Low APR Credit Card