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.
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.
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 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.
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.