Lowest Interest Rate Credit Card: Where To Find

By: EconomyWatch Content Team   Date: 19 January 2010

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Unfortunately the question of getting the lowest interest rate credit card is not as simple as pointing to one company and saying it’s that one. If that were the case there would be no other companies in existence. The truth answer is that all companies have at least one or two cards that would qualify as the lowest rates on the market. Of course qualifying for these is largely dependent on your previous lending history.

The Discover More Card is one of the more popular on a list for the lowest interest rate credit card for customers that have good credit. The lowest rate available on the card is an 11.99%, which is well below market averages in recent years. In addition the Discover card gives you 25 day grace period on interest as opposed to the 20 days offered by most other cards, which will help you keep the interest charges on your account low. In addition you can earn a high percentage of rewards on the card.

Another great low interest rate card is the Chase Slate Card. This card offers the same low APR of as low as 11.99%. What makes this card unique is that is allows you to choose which purchases you want your payment to pay off. For example, if you just bought a large item but want to direct your payment to paying off an older purchase the Slate card allows you to do that. Because you have this ability to decide what you wish to pay off, then you can carry a balance while paying less in interest fees.

The Citi Forward Card would generally not be thought of for the lowest interest rate credit card since the rates start at around 14.24%. But this card gives you the unique ability to let you lower that interest rate by as much as two percentage points. All you have to do is make your payments on time and not exceed your credit limit. For every three months of on time payments then you will have a decreased interest rate by 0.25%. That may not sound too dramatic but it’s an entire percentage point over the course of a year, simply for making your payments.

Of course there are many other cards on the market with the lowest rates. These are just a sample of the variety you can find. You can learn more about Discover More Card http://discovercard.com/ and the Citbank Slate Card https://www.citicards.com/ by visiting these sites


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