Not all low interest credit card applications are equal

  You might have looked at your personal spending habits and found that since you carry a balance on your credit cards each month that you are best off with low interest credit card applications.  You are right, if you carry a balance on your credit cards you are going to want something that is low interest.  This is going to save you month each month as well as in the long run.  But just because you have narrowed your search down to Low interest credit card applications does not mean that you have no more research to do.

  Now take a look at all the different low interest credit card applications and find out the details of each and every one of them.  Do not look at just the headlines, read ALL of the details about them.  Here are a few things you should check before applying for any of these credit cards.

• What is the Intro APR?

• How long does the Intro APR last?

• What is the interest rate after the intro period ends?

• What is the cash advance APR?

• What is the grace period?

• What is the annual fee?

• What other benefits does the card have? (Cash back, reward points, store discounts, online access)

  The most important of the list above is what the interest rate is going to be once the intro period is finished.  If the intro APR is 1% lower but the normal APR is 1% higher you are not going to want that card.  Most people keep their credit cards long past the intro period so I would always suggest taking the credit card applications with the lower regular APR.  That is the single most important thing.

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