How to Make the Most Out of Your Low APR Credit Card

Below are tried-and-tested strategies that will help you optimize the use of your low APR credit card.low apr credit card

Transfer the balance from your old credit cards to your new account,

especially if your other credit cards carry extremely high interest rates and fees. In so doing, you can reduce the payments you make on interest as well as on other transaction-related charges. At the same time, it will be much easier for you to keep up with your monthly bills and to stick to the items found in your personal or household budget.

Use it to cover your monthly purchases and expenses,

particularly your groceries, electric and other utilities bills, gas purchases, etc. Just remember to settle these charges as soon as you can so that you won’t have to make substantial payments on pesky fees and charges. And be sure to check the available balance on your account before using it to pay for your bills and other expenses. That way, you can avoid going overboard with your transactions, which can potentially hurt your credit history and even your budget.

Take the time to review the fine print of your card program

to see how you can further reduce the payments you submit to your card issuer. For instance, if you have consistently submitted on-time and complete payments of your dues for the past six to twelve months then, you might qualify for much lower rates of interest, not only for your purchases but also for the other add-on features on your card program, such as cash advance. And be ready to negotiate for the immediate elimination of unwanted charges, such as annual fees, finance charges, etc.

Be sure to lock-in the low rate of interest imposed on your account.

Bear in mind that the APR imposed on some card programs can suddenly go up, especially if there are changes in the primary rate in the market. Hence, before signing up for your card program, you should take the time to talk to your card issuer about locking the rate of interest on your account. That way, you can enjoy a minimal rate on all your transactions for the whole term of your credit agreement.

Look for opportunities to get credit cards with rewards.

Bear in mind that good credit habits can boost your likelihood of being eligible for rewards card programs. With such credit cards, you can look forward to collecting points and redeeming cash-back rewards, travel-related incentives, special shopping discounts and privileges, and even gift items and freebies.

So, resolve to manage your low-interest credit card in the most responsible way you can. And in time, you might qualify for a credit card that comes with exciting perks and incentives.

Abide by the terms and conditions of your credit card program.

For instance, see to it that you stick to your payment schedule as well as to your credit limit. And don’t commit violations against your credit agreement. By doing so, you can avoid sudden interest rate hikes and you can be sure to enjoy the low APR on your card account for a very long time.

 

 

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

2 Comments
  1. Great post reminder – we do have to be very credit card savvy and use them effectively

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NHBS Inc © 2022

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

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