How to Comparison Shop for the Lowest Credit Card Rates
It’s easy to find someone who wants to give you a credit card, but you have to be smart to get a good one. And a good credit card is the best credit card that fits your needs with the lowest credit card rate. Now, let’s get smart about comparing credit card offers and credit card rates.
Always take a look at the Schumer box. What’s that? By federal law – sponsored by Senator Charles Schumer – all credit card offerings have to include a box that includes nine different kinds of information about the card. This box will appear on the back of the letter offering you credit, or on another sheet of paper enclosed in the same envelope from the credit card company.
Here are the nine kinds of information specified that will allow you to compare one offer with another.
The Annual Percentage Rate or APR. This is confusing because card issuers can have introductory credit card rates that become a higher standard rate. And then they can raise the rate if you miss a payment. They can also charge different credit card interest rates for purchases, credit card balance transfers, and cash advances. Most credit cards have variable rates. Make sure you know what the variance is based upon. Assume that you just can’t compare the APRs on two credit cards because there is a story behind the numbers.
The Credit Limit. The credit limit tells you the total amount of credit that you have. Know what’s best for you. A low credit card limit may be good for you if you are undisciplined in your spending and need to be reined in. A high credit card limit is good for your credit rating if you do what you are supposed to do and always keep the balance under a third of your total available credit.
The Grace Period. This is the number of days you have to pay your bill in full without getting a finance charge of you have a zero balance on the credit card.
The Finance Charge. This is the dollar amount you pay to use credit, and it depends in part on your outstanding balance and the annual percentage rate (APR). Credit card issuers use different methods to calculate your outstanding balance. Your outstanding balance may be calculated over one or two billing cycles; including or excluding new purchases in the balance and by using the adjusted balance, average daily balance or previous balance. Most all credit cards have a minimum monthly finance charge.
The Outstanding Balance Computation. As we said above in the section on finance charges, cards use different methods to come up with your outstanding balance. You may read it and scratch your head, but makes sure that you read it.
The Actual Company Offering You Credit. Sometimes this is not the same company who is marketing the card. If you recognize one name and not the other, it may make a difference.
The Annual Fee. Some cards require a fee to be paid every year. Why? Because they can. If you can get a card without an annual fee, get one. You’ll probably save at least $50 a year.
The Minimum Payment. Different issuers use different calculations to determine the minimum payment. It’s good to know what the minimum payment is, but if this become important to you, you are struggling. If you are only making minimum payments you are probably paying a lot in finance charges.
Fees for Credit Insurance. In addition to the credit card, companies also try to sell you insurance for a lost card, or insurance for disability, or insurance to pay your balance in the event of your death. Most of the time insurance isn’t necessary, but if you are interested be sure you know what it will cost.
In addition to the items appearing in the Schumer box, you may have other interests in a credit card. If you have good credit you may qualify for a low rate credit card with reward points. Rewards cards can include cash rebates on purchases, online account access, frequent flyer miles, additional warranty coverage, car rental insurance, travel discounts, concierge services and more.
It always makes sense to pay attention to the details of the credit cards you apply for in order to obtain the best credit card with the lowest credit card rate.
Lowest Credit Card Rates Review Wyndham Rewards Visa Card
The Wyndham Rewards Visa credit card is a travel rewards Visa card issued by Barclays Bank. This credit card offers a variety of reward options but focuses on rewards that involve purchases through Wyndham Resort properties. This credit card works best for travelers who frequent the Wyndham Resort collection of hotels and motels.
The rewards credit card comes with two options: one with annual fee of $39.00 and the other option with no annual fee. The annual fee card option will earn reward points faster than the no annual fee option.
The rewards earned with the credit cards can help card holders earn free nights at the over 6,000 Wyndham hotels. With the Wyndham Rewards Visa credit card, cardholders can often earn and use credit card reward points that involve Wyndham hotels faster than they could with most other reward credit cards.
The annual fee Visa card holders can earn five points for every $1.00 in purchases on participating stays at Wyndham hotels and two points for every $1.00 in purchases spent on all other purchases. The no annual fee Visa card holders can earn three points per $1.00 in purchases on participating stays at Wyndham hotels and two points per $1.00 spent on all other purchases.
As a bonus for new credit card holders, the annual fee Visa credit card holders will earn 16,000 bonus Wyndham Rewards Points upon the first use of a new credit card for a purchase or balance transfer transaction. The Wyndham Rewards Visa credit card without an annual fee will earn 12,000 bonus Wyndham Rewards Points upon the first use of a new credit card for a purchase or balance transfer transaction.
This bank credit card has a variable credit card rate that is based on the Prime Rate. The current credit card rate for purchase transactions will be 13.24 percent, 16.24 percent or 19.24 percent depending on the credit worthiness of the credit card applicant.
The credit card is being marketed with a zero percent introductory credit card rate on balance transfers. The zero percent introductory credit card rate is valid for a period of six monthly billing cycles for new credit card balance transfers.
The credit card due date is at least 23 days after the close of each monthly credit card billing cycle. There are no interest charges on purchase transactions if the entire credit card balance is paid by the due date each month.
Credit card reward points that are earned with the card can be redeemed at the Wyndham hotels and includes free nights without any black out dates in both the US and in Canada. Credit card reward points can also be redeemed to get airline tickets, gift cards at major retailers, restaurants and more.
The credit card review the Wyndham Rewards Visa credit card is believed to be accurate as of this publication date but is subject to change at any time by the credit card issuer. Read the current terms and conditions found on the online credit card application before applying for a new credit card.
Lowestcreditcardrates.com presents this review and other credit card information to help consumer’s research credit card offers to help find the best credit card with the lowest credit card rate.
Lowest Credit Card Rate with Dollar Bank Visa Credit Card
The low rate Dollar Bank Visa credit card comes with a low standard credit card rate as well as a zero percent introductory credit card rate offer. Dollar Bank of Pittsburgh offers this bank Visa credit card.
The Dollar Bank Visa credit card made the current list of terms on credit card plans offered by financial institutions performed by the Federal Reserve System. The list is established based on the results of a survey performed every six months by the Federal Reserve System on current credit card plans and is sorted by the lowest credit card rates in the survey.
Dollar Bank is a regional savings bank serving Pennsylvania and portions of Ohio
The credit card is currently promoted with a 0 percent introductory credit card APR that lasts for a period of six months. The introductory credit card rate applies to both purchase transactions and credit card balance transfers. After the introductory period expires, the credit card rate is set by adding 5.99 percent to the Prime Rate.
This is a variable rate credit card and the APR will vary with the market based on the Prime Rate. The bank Visa credit card has no annual fee.
At the current Prime Rate, October 2010, the credit card rate is equal to 9.24 percent. The credit card APR for credit card cash advances is 14.24 percent. The credit card rate for cash advances is determined by adding 10.99 percent to the Prime Rate.
The credit card has a grace period that is 25 days at the end of the billing cycle. There are no credit card interest charges on purchase transactions or balance transfers if the entire balance is paid by the due date or within the grace period each month.
Added conveniences that come with the credit card include the ability for account holders to view and pay their bank Visa account online with Dollar Bank’s free online banking service and the option to use Visa checks to make purchases on from the credit card account where credit cards are not accepted as well as for credit card balance transfers from other higher interest rate credit cards
As with most bank Visa credit cards additional credit card options include: auto rental collision damage waiver, emergency credit card replacement and cash disbursement, lost or stolen credit card reporting, zero fraud liability, Visa card assistance 24/7, optional credit life insurance and more. Certain conditions and restrictions may apply.
The Dollar Bank Visa credit card has a fast and easy credit card application that can be completed by mail, phone or online.
The credit card review of the Dollar Bank Visa credit card is believed to be accurate as of this publication date but is subject to change at any time by the credit card issuer. All credit card information is presented without guarantee. Before applying for a new credit card, read the current bank credit card terms and conditions that can be found on the online credit card application.
Lowestcreditcardrates.com present this information and other credit card reviews to help consumers research credit card offers to help find the best credit card with the lowest credit card rate.
Dollar Bank is based in Ohio and operates more than 60 bank branch offices and loan centers throughout the Pittsburgh and Cleveland metropolitan areas.
Capital One MTV Visa Credit Card Review
The MTV Visa credit card is issued by Capital One and is geared towards young adults that enjoy MTV stuff. This is a rewards credit card that targets the fans of MTV by allowing credit card account holders the ability to earn reward points to purchase MTV products and services.
Capital One markets the bank credit card as one that for consumers with average credit. A brief summary provided by Capital One describing the background of an average credit card applicant describes this individual as currently having or had a U.S. loan or credit card, has a credit limit on a current credit card, if any, of less than $5,000 and may have been late on more than one credit card, medical bill, or loan payment in the last six months
Reward points earned with credit card use are determined based on the type or purchase. Account holders can earn 5 points per $1.00 in net purchases made on entertainment, 2 points per $1.00 in net purchases made at restaurants and 1 point for each $1.00 in net spending on all other purchases.
As a bonus, Capital One will reward account holders with 25 bonus points each billing period that the account remains in good standing by paying on time. To keep the account in good standing, the credit card account holder must pay at least the minimum credit card payment due on time.
The credit card reward points earned can be used for MTV merchandise, tickets to MTV events like the VMAs and MTV show tapings. The credit card reward points earn do not expire, pints may be lost when the account is closed. There is also no cap on the amount of reward points that can earned with the card.
The credit card rate for this card is set as a variable rate based on the Prime Rate. The current credit card rate is 24.9% for both purchase transactions and credit card balance transfers.
There is no annual fee with the Capital One MTV Visa credit card.
Going along with the growing trend of personalized credit cards, Capital One gives the option to card holder to customize the front of the card with either one of two MTV card designs or an image created by the card holder.
The credit card grace period or due date runs at least 25 days after the close of each billing cycle. Provided the account holder pays the previous credit card balance in full by the due date each month, there are no interest charges on new purchase transactions paid before the due date or grace period.
The credit card review of the Capital One MTV Visa credit card is believed to be accurate as of this publication date but is subject to change at any time by the credit card issuer. All credit card information is presented without guarantee. Before applying for a new credit card, read the current credit card terms and conditions that can be found on the online credit card application.
Lowestcreditcardrates.com helps consumer’s research credit card offers to help find the best credit card with the lowest credit card rate.
The Second Lowest Credit Card Rate Review
It may not have the lowest credit card rate available, but the BBVA Compass ClearPoints credit card rate is certainly among the lowest credit card rates on the market. The BBVA Compass ClearPoints credit card is a Visa rewards card with flexible credit card reward program that issued by BBVA Compass bank.
The credit card APR is a variable rate that is currently between a low rate of just 7.24% to 20.24%, based on the creditworthiness of the card applicant. The credit card APR will vary with the market based on the Prime Rate.
The credit card also has an introductory credit card rate for both credit card balance transfers and credit card purchases. The introductory credit card rate for purchases is at 1.99% APR and will apply to ne w accounts for the first six months. The introductory credit card rate for credit card balance transfers is currently between 3.99% to 5.99% APR and will apply to ne w accounts for the first one year. The introductory rate on balance transfers is dependent on then the creditworthiness of the credit card applicant.
The BBVA Compass ClearPoints credit card has no annual fee.
The credit card due date or grace period is at least 25 days after the close of each billing cycle. There are no interest charges applied during those days for purchase transactions if the account holder pays the entire credit card balance by the due date each month.
The credit card comes with the CompassPoints rewards program. CompassPoints is a no fee credit card rewards program available on the ClearPoints credit card and is also available for BBVA Compass account holders with BBVA Compass debit cards, credit cards or the Simplified Line of Credit (LOC) account with the bank.
With the rewards program, bank credit card holders can earn 1 point for every $1.00 in net purchases. As a flexible credit card rewards program, credit card holders are able to choose different reward types, such as travel, points, or other options.
Accumulated credit card points can be redeemed for a variety of rewards such as name brand merchandise, gift cards at retailers, travel options with Orbitz.com, as well as for hotels, rental cars, cruise certificates and more.
The grace period or due date listed for the BBVA Compass ClearPoints Visa card is at least 25 days after the close of a billing cycle. There are no interest charges on credit card purchases when the credit card balance is paid in full before the grace period expires.
The credit card review of the BBVA Compass ClearPoints Visa card is believed to be accurate as of this publication date but is subject to change at any time by the credit card issuer. All credit card information is presented without guarantee. Before applying for a new credit card, read the current credit card terms and conditions that can be found online.
Lowestcreditcardrates.com provides this review and additional credit card information to help consumer’s research credit card offers to help find the best credit card with the lowest credit card rate.
Lowest Credit Card Rates Review PNC Everyday Rewards Visa
PNC Everyday Rewards Visa credit card is a rewards credit card offered by PNC Bank. This credit card falls into the category of cash back rewards credit cards. The Everyday Rewards Visa credit card from PNC is designed for consumers who want a cash back credit card that earns cash back on a wide variety of everyday purchases.
The PNC Everyday Rewards Visa credit card is a cash back rewards card allows the credit card holder the ability to earn cash back on everyday purchases like gasoline, groceries, restaurants and more. Card holders can earn a certain percentage of their purchases as cash back on each purchase depending on where the card holder uses your card.
The credit card offers cash back earnings of up to 4% on gasoline (with a maximum of $250.00 in eligible monthly net purchases), 3% cash back on cinema and movie rentals (up to $150.00 in eligible monthly net purchases), 2%cash back on groceries, restaurants and fast food (up to $750.00 in eligible monthly net purchases), and up to 1% in credit card cash back on almost everything else (with 1/4% being earned on the first $10,000.00 in eligible net purchases each year and 1% thereafter with no maximum).
Credit card reward or rebate checks on earned cash back is issued only if an account is in good standing. Rewards will be redeemed after an account holder has accrued a minimum of $100.00.
Credit card reward payments are made by check attached to the credit card account statement.
The credit card rate is currently set at between 9.99% and 21.99% depending in the credit background of the applicant. This is a variable credit card rate that is established by adding a margin to the Prime Rate. The current margin is between 6.74% and 18.74%.
The credit card also offers an introductory credit card rate of 0.99% for the first six billing cycles. The introductory credit card rate applies to both purchases and credit card balance transfers.
There is no annual fee with PNC Everyday Rewards Visa credit card.
Other features that come with this bank credit card include: optional overdraft protection provided by PNC Bank, fraud and identity theft protection, online password protection, zero liability for fraudulent charges and online credit card account management.
The credit card review of the PNC Bank credit card is believed to be accurate as of this publication date but is subject to change at any time by the credit card issuer. All credit card information is presented without guarantee. Before applying for a new credit card read the current credit card terms and conditions.
Lowestcreditcardrates.com helps consumer’s research credit card offers to help find the best credit card with the lowest credit card rate.
Credit Card Advantages and Disadvantages
While credit cards can help consumers gain access to credit and earn credit card rewards and other benefits, many credit card holders struggle with personal debt problems. There are certainly many advantages in having a credit card or credit cards; in fact, life without credit cards is almost a burden. But there are also quite a few disadvantages, some which can be quite devastating.
The advantages of obtaining and using a credit card are plentiful, some of the key benefits include:
Convenience. Credit cards offer convenience in a variety of ways, chief among being that with a credit card a consumer does not have to carry cash. Credit cards can be more convenient than choosing not to carry cash and pay in cash because of the protections that come with most credit cards including extended warranty protection against unauthorized use, disputed transactions and more.
Access to Credit. Credit card holders have access to credit by simply have an available credit card limit on their card. Credit access helps build a string credit profile or credit history and comes in handy for large purchases or emergency money needs. Credit card credit access can also come in the form of interest free credit. Interest free credit can be obtained with low or zero percent introductory credit card rates as well as simply using a credit card and paying off the credit card balance prior to the end of the grace period and avoiding any credit card interest charges.
Credit Card Rewards. Credit card rewards are offered by credit card companies to encourage consumers to apply for new credit cards and use the credit cards. These credit card rewards can be earned by simply using the cards and paying off the balance without cost. With credit card rewards, consumers can earn air miles, credit card gas rewards, credit card cash back and other rewards. Provided that more than the minimum monthly payment is made, it is possible to earn more in rewards and benefits that the cost of having and using the credit card.
Manage Bills and Expenses. A credit card can help consumers budget effectively and manage their bills. By paying monthly bills with a credit card, it can be easier to managing family finances with easy payment record. Consumers can even earn more rewards by using a credit card for recurring expenses and paying the credit card balance as the statement comes in.
Disadvantages of Using a Credit Card:
Credit Card Debt. Too much debt is most likely the single biggest problem with credit card use. Having easy access to credit is often too tempting for many consumers. Many consumers end up struggling to control their spending and make only the minimum monthly payment each month which leads to debt that may become unmanageable and can lead to further financial trouble.
Excessive Borrowing Costs. Credit cards provide convenient access to credit but this credit access is not free. Credit card rates are generally among the highest consumer interest rates for borrowing. Mortgage rates, car loan rates, and equity loan rates are significantly lower than credit card rates. Credit card debt and payments can easily become out of control due the high interest charges on credit card balances.
Unwanted Fees and Charges. Late payment fees are often large penalties in relation to the amount of money that is due on a credit card. Not only are the late payment fees high but credit cards companies may also charge an annual fee as well as credit card cash advance fees, credit card balance transfer fees and other fees for transactions that some consumers fail to consider in their credit card costs.
To find the right credit card and avoid costly credit card mistakes, search for the best credit card with the lowest credit card rates to fit your needs.
Lowest Credit Card Rates Review Icelandair MasterCard
The Icelandair MasterCard is a bank credit card with travel rewards. The Icelandair MasterCard provides credit card rewards specifically for international travel and provides the greatest benefits to consumers that use the frequent flyer program of Icelandair.
The Icelandair MasterCard is a bank credit card issued by Barclays Bank Delaware. For consumers that are considering a new Icelandair MasterCard the first step is make sure to enroll in an Icelandair frequent flyer program.
The Icelandair Saga Club operates a frequent flyer program for Icelandair. Frequent Flyer Club Members earn points and can redeem Award Points with Icelandair and companies that partner with the airline. According to the web site, two different kinds of points can be earned in the Icelandair Saga Club, Award Points and Card Points. Award Points can be used to obtain flight, accommodation or car rental awards. Icelandair has been in operation since 1937 and operates regularly scheduled flights between the U.S. and Europe.
The credit card can be obtained with an annual fee of $39 for the annual fee Icelandair MasterCard World Card or with no annual fee for the No Annual Fee World Card and the Platinum Card.
The main benefits of either of these credit cards are the travel rewards points that can be earned. The $39.00 annual fee World MasterCard earns one Icelandair Award Point for every $1.00 of net purchases made with the card and two Points are earned for every $1.00 of net purchases on Icelandair tickets made with the card.
The no annual fee World MasterCard and Platinum MasterCard card holders earn one Point for every $2.00 of net purchases made with the credit card and one rewards Point is earned for every one $1.00 of net purchases of Icelandair tickets made with the account.
There is also the opportunity to earn bonus miles just for obtaining a new credit card and using it for the first time. New credit card holders of the $39 annual fee Icelandair MasterCard can earn 10,000 bonus award points upon the first use of the credit card account for either a purchase transaction or balance transfer.
New credit card holders that chose the no annual fee Icelandair MasterCard or Platinum MasterCard can earn 5,000 bonus Award Points on their first use of the card for either a purchase or credit card balance transfer.
Icelandair MasterCard credit card holders can also earn one Award Point for every $1.00 in credit card balances that are transferred to their new card, in the first 30 days after a new account is opened, for a maximum of 10,000 total points.
The credit card rates are based on a variable rate system that is currently at either 15.24% or 18.24% depending on the credit worthiness of the card applicant. The credit card rate or APR will fluctuate with the market based on the Prime Rate. The APRs currently available and listed above are based on a Prime Rate of 3.25%
The credit card is now offering a 0% introductory APR for new credit card balance transfers. The introductory credit card rates will last for the first six billing cycles after account opening.
The credit card terms offered are believed to be accurate as of this publication date, however all credit card information is presented without warranty. Credit card offer including rates and terms are subject to credit approval. See the online credit card application for details about terms and conditions.
Lowestcreditcardrates.com provides credit card reviews, tools and research on credit card offers including travel rewards credit cards to help consumers find the best credit card with the lowest credit card rate.
Lowest Credit Card Rates Review Harvard Alumni MasterCard
The Harvard Alumni Assoc. MasterCard credit card is rewards credit card issued by Barclays Bank. The credit card is a bank credit card using the MasterCard transactions services. The Harvard Alumni Association World MasterCard offers a rewards program targeted towards Harvard University graduates.
The credit card is geared towards consumers with excellent credit. The credit card rate reflects the credit profile of the applicants. The credit card rate is a variable rate based on the Prime Rate. The lowest credit card rate currently available is at 7.24%. The rate is dependent on the credit worthiness of the credit card applicant.
The credit card also has zero percent introductory credit card rate for balance transfers. The 0% introductory APR lasts for the first six billing cycles on credit card balance transfers once a new credit card is opened.
The credit card has a 23 day grace period in which the due date is at least 23 days after the close of each monthly billing cycle. There are no credit card interest charges on new purchases if the entire credit card balance is paid by the due date each month.
There is no annual fee with this credit card.
The credit card allows card holders to earn reward points, apply named Crimson Rewards, with qualified purchases that can be used for earning cash back, travel discounts, merchandise, Harvard Club dues and more.
The credit card reward points can be earned on all categories of net purchases. Card holders can earn one point for each $1.00 of net purchases made with the credit card. Credit card reward points earned will not expire and there is no limit to the number of reward points that can be accumulated per calendar year.
New credit card accounts can earn 5,000 bonus points. New card holders will simply earn 5,000 points upon their first purchase made with the credit card.
Credit card offer including rates and terms are subject to credit approval. See the online credit card application for details about terms and conditions.
Reasonable efforts are made by Lowestcreditcardrates.com to maintain accurate information. However all credit card information is presented without warranty.
Lowestcreditcardrates.com provides tools and research on credit card offers including low rate bank credit cards to help consumers find the best credit card with the lowest credit card rate.