Low Fixed APR Credit Card has come handy to the credit card customers. It is called so because the annual percentage rate for transferring balance remains fixed at the negotiated or predetermined rate for the entire life of the balance. These rates are generally much low than the other conventional cards.
In case of variable APRs, the rate of interests (paid on an annual basis) are liable to change with the change in index (on which it is related to). Thus, in such cases the customers are exposed to interest rate related risk. But for the Low Fixed APR Credit Card no such risks are associated. Once a customer confirms to pay at a specific rate of interest per annum on balances then this rate remains fixed for the entire lifetime of the card.
In addition to this there are also additional incentives associated with such cards like
- 0% annual percentage rate for a specific time period which generally varies from 6 months to 15 months.
- The credit card issuing company generally waives the annual maintenance fees.
- Rewards such as travel points are also available along with this card.
Other services are also associated with Low Fixed APR Credit Card such as
- Credit card account can be accessed by the customer through online services
- Travel services are also given without taking any extra charges.
- Reward Programs are also available free of cost and no additional fees are charged.
This card is not offered to everyone. Only the customers having a good (many times excellent) credit history or rating are eligible for applying for the
card. This helps these persons to scale down their interest rate by shifting from the high interest rate credit card to the low fixed ones.
For more informations on Low Fixed APR Credit Card one may browse through creditcards.com and lowaprcredit.com.