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 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.
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.
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.
Lowest Credit Card Rates Review Capital One Secured Credit Card
For those consumers that have less than perfect credit, there are a number of credit card options that allow the card holder to have access to credit and help rebuild their credit score and credit history. One option involves using secured credit card. One of the largest credit card company’s offering secured credit cards is Capital One. Capital One has more than secured credit card offer. One of the offers is the Capital One secured MasterCard credit card.
Secured credit cards work like standard credit cards except that it requires a security deposit which is held as collateral for the account by the credit card company.
Many secured cards have high fees that may include application fees, annual fees, account opening fees, and processing fees. The Capital One secured MasterCard credit card has a relatively low annual fee of $24.00.
The credit card rate is a variable rate that is currently at 19.80% for purchase transactions.
There are standard fees for late payments and returned payments but there are no other fees except the annual fee for maintain and using the credit card for standard transactions.
Since this is a secured credit card, funds must be deposited with the bank in order to obtain credit. With the Capital One secured MasterCard credit card, one the credit card application is approved, there will be a minimum security deposit prior to make of $200.00.
The credit card limit will be between $200.00 and $3,000.00, equal to the amount of the security deposit the card holder provides between the minimum $200.00 and a maximum of $3,000.00. Card holders can make additional deposits to increase their credit line after the account is opened up to the maximum limit allowed by Capital One.
With the Capital One card, the security deposits can be made online or over the phone through an electronic funds transfer from a bank account.
One of the primary goals of obtaining and using a secured credit card is to reestablish a good payment history. The Capital One secured MasterCard credit card automatically reports the account to the three major credit reporting agencies to help reestablish a credit history.
There is a 25 day grace period with the credit card. The credit card due date will be at least 25 days after the close of each billing cycle. If the credit card balance is paid in full by that time there are no interest charges on the purchases made during that billing period.
For a secured credit card, the Capital One terms are some of the best available. For new credit card applicants with good or excellent credit, the credit card may have a higher interest rate compared to other credit card offers available.
This credit card review 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 helps consumer’s research credit card offers including secured credit cards to help find the best credit card with the lowest credit card rate.
Lowest Credit Card Rates Review AccountNow Prepaid Cards
The AccountNow prepaid credit card is a prepaid account that works in a similar manner to a traditional credit card but is in fact not a credit card. Since this is a prepaid card, only money that is added to the prepaid account can be spent or used and there is no credit facility. Account holders may have the option to obtain to credit under certain circumstances with this account.
The AccountNow Prepaid Visa Card is issued by MetaBank. MetaBank is a federally chartered savings association located in South Dakota. These prepaid cards can be used to make purchases anywhere Debit Visa or MasterCard is accepted including online card transactions. The prepaid credit card can also be used to access cash at ATMs as well.
Prepaid debit cards and prepaid credit cards can help consumers control their spending by having a reloadable feature that allows the card holder to only spend up to the amount deposited into the card account.
To open a prepaid card AccountNow Visa or MasterCard, consumers need only to provide their name, phone number, email address, social security number, and mailing address. Since the account uses your funds for transactions there is no credit check. New accounts can be obtained by signing up online in quickly or calling the credit card company directly.
Funds are loaded or added to the prepaid account by cash deposit, direct deposit or from a checking or savings account. There is no minimum balance required for the prepaid account.
The card is free to sign up and receive however, once the prepaid card is loaded with funds there are monthly fees that will start. The monthly fee for using this card is $9.95.
The AccountNow Prepaid MasterCard allows you to have your payroll checks directly deposited into the account. With the prepaid MasterCard, users don’t have to write checks and pay for checks with a traditional bank account.
The card use also gives the account holder the Visa’s Zero Liability or the MasterCard Zero Liability coverage. This coverage means the account holder is not liable for unauthorized use with the card.
For consumers searching for the best prepaid credit card one of the most important features to review is the combination of cost and fees associated with the activation, use and maintenance of the card.
This prepaid credit card review 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 helps consumer’s research credit card offers including prepaid cards to help find the best credit card with the lowest credit card rate.
Quick Tips for New Credit Card Holders
Credit cards used properly can be very valuable tools for consumer to have. There are a number of benefits that credit cards can provide ranging from purchase protection, credit card rewards and credit on demand. Unfortunately poor credit practices has led many card holders card down a path of financial irresponsibility that sucks out all of the benefits that credit cards can provide.
When you use a credit card, you’re really taking out a loan. Once you buy an item with a credit card, you’re going into debt with the credit card issuer until the credit card bill is paid in full. When you don’t pay the full amount, credit card companies charge interest. The amount of the credit card interest charges can be very high. Borrowing money from a credit card issuer is generally the most expensive loan a consumer can obtain.
The top 5 easiest and most important credit card tips include:
Shop and compare credit card offers carefully. Watch the credit card interest rate on new credit cards and existing credit cards. Look for the lowest credit card rate that best suits your needs. Switch credit cards to obtain a low rate card when available.
Pay the monthly credit card bill on time. Most credit card companies will charge unbearable late charges for late payments in addition to possibly lowering your credit card limit and causing a late payment record on your credit report.
Don’t exceed the card credit limit. Credit card companies often charge over the limit fees and the combination of a high monthly payment with an over the limit fee can cause unnecessary financial burden making it more difficult to handle the debt. Exceeding the credit card limit is often a sign that your personal budget is askew and your debt burden is increasing faster than it can be prudently managed.
Avoid credit card cash advances. Most credit cards will allow you to take a cash advance against your credit limit. The credit card cash advance often has a higher interest rate than purchase transactions and consumers who use this service are frequently not watching their expenses and following a path of increased burdensome debt.
Pay the credit card debt off. Manage your budget to avoid any time in which the credit card debt at the end of the month is greater than it was at the beginning of the month. Credit card debt is expensive, it should be avoided. Manage your finances to reap the rewards of credit card use and not get stuck paying high interest charges that negate any benefits.
The most important rule for good credit card is to pay off the full credit card balance each month. For credit card holders that are unable to pay off their credit card bills in full each month, they should really avoid using them. Once a card holder starts to pay just the minimum payment due each month they simply spending more than they can afford to and tackling the issue will never get easier.
Credit cards, used properly, can be a valuable tool the helps manage an individual’s financial position. While credit cards offer a lot of opportunity, without proper credit use these tools can quickly work against the card holder.
Lowest Credit Card Rates Review US Bank Gymboree Visa Credit Card
The Gymboree Visa credit card is issued by US Bank and offers a number of benefits including exclusive discounts and rewards for Gymboree shoppers. This Visa credit card is a store rewards credit card. Store reward cards generally offer rebates and rewards on specific brand merchandise or purchases.
With the US Bank Gymboree Visa credit card not only will card holders earn money back towards Gymboree purchases with a standard points rewards program, but they will also receive a 5% discount on all Gymboree merchandise you purchase with your Gymboree rewards Visa card.
The credit card holder will receive a 5% discount on all Gymboree purchases at Gymboree retail stores, Gymboree outlet stores, and gymboree.com when the buyer uses the Gymboree Visa card.
Card holder also receives a 1% reward on all other purchases. The rewards program works by awarding points for every $1.00 in net purchases made with the Gymboree visa card. Once the account holder accumulates $10.00 in rewards, a Gymboree gift card will automatically be mailed to the account holder. The credit card reward points are only earned on purchases of items other than Gymboree purchases.
New credit card holder can receive a bonus $10.00 Gymboree retail store certificate after acceptance.
The credit card APR’s may is a variable rate based on the prime rate and will vary among credit card applicants depending on their credit profile. The current credit card APR ranges from 12.99% to 19.99%.
There is no annual fee on this US Bank credit card.
The grace period for the Gymboree Visa credit card is at least 24 days during which time if the card holder pays off the entire credit card balance there are no interest charges on the account.
This card is ideal for those that shop Gymboree retail stores and with most all rewards credit cards, the account can pay the card off each month and collect the rewards earned and discounts at the store.
The credit card review 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 credit card terms and conditions found on the online credit card application before applying for a new credit card.
Lowestcreditcardrates.com helps consumer’s research credit card offers to help find the best credit card with the lowest credit card rate.
Lowest Credit Card Rates Princess Rewards™ Visa Card
The Princess Rewards™ Visa card is a travel rewards credit card issued by Barclays Bank.
The Princess Rewards™ Visa card offers cardholders a rewards program that gives passengers the opportunity to earn free cruises, onboard credits, and discounts toward their cruise fares, air travel, special amenities and even free cruise redemptions. The rewards can also involve advance ticket sales, preferred seating, and special events.
The credit card reward programs allow the account holder the ability to earn one point for every $1.00 spent on net purchases. Card holders can earn two reward points for every $1.00 of net purchases made on Princess Cruise Lines including online and onboard purchases.
New credit card holders can receive 5,000 bonus rewards points after making their first purchase or credit card balance transfer.
This is a no annual fee credit card issued by Barclays Bank.
The credit card rate is a tiered rate based on the credit history of the credit card applicant. The lowest credit card rate currently available is at 10.24% the next tier is 13.24% and the current highest rate is 17.24%. The credit card rate is a variable rate based on the Prime rate plus a margin.
The credit card also offers an introductory zero percent credit card rate on balance transfers. The zero percent credit card balance transfer rate applies to the first six billing cycles after opening a new account.
The credit card grace period or due date is at least 23 days after the close of each billing cycle. There is no credit card interest charged on purchases if the full credit card balance is paid by the due date each month.
The credit card review 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.
Lowest Credit Card Rates Review RBC Bank Visa Platinum Rewards Card
The RBC Bank Visa Platinum credit card comes with a low credit card rate and the RBC credit card rewards program.
Credit card holders that have the RBC Bank credit card can earn bonus points, free hotel stays, gift certificates, bonus airline miles and more. The RBC Rewards program is free. New credit card holders that enroll in the RBC credit card rewards program will earn 500 bonus points with their first RBC Bank Visa Platinum credit card purchase.
The RBC Visa Platinum credit card comes with an introductory credit card rate for both purchase transactions and credit card balance transfers. The introductory credit card rate is 2.90% and lasts for a period of six months. After the introductory credit card rate period ends, the current credit card will be between 9.99% to 18.24% depending on the credit history and other factors of the credit card applicant.
The credit card rate on the RBC Bank Visa Platinum Rewards card is a variable rate based on the Prime Rate plus a margin.
There is a 21 day grace period on the credit card account during which time the bank will not charge any interest on purchases if the account holder pays the entire credit card balance by the due date each month.
The rewards points for this credit card are earned at a rate of 1 point for each $1.00 in net qualifying purchases.
With the RBC Rewards, account holders can invite other people to join their pool of rewards and combine the values. Account holders can combine their personal RBC Rewards account with any other RBC Rewards card holders.
This Visa Card includes travel accident insurance, auto rental insurance, emergency cash disbursement, roadside assistance, access to the Visa assistance center and more.
RBC Bank also offers free online banking, free additional credit cards and free convenience checks.
The RBC Visa credit card is subject to credit approval. The credit card rate and terms listed is believed to be accurate as of this publication but are not guaranteed. Credit card program terms may change. For details about current program terms and conditions including the credit card APRs, fees, balance transfers and eligible purchases view the current terms and conditions issued by the credit card issuer.
Lowestcreditcardrates.com helps consumer’s research credit card offers to help find the best credit card with the lowest credit card rate.