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Credit Cards and APRs
you probably see a lot of credit card offers on a daily basis whether its on television, the internet, a magazine or in the mail. in the advertisement, you probably see or hear apr mentioned several times in the form of introductory apr, standard apr, cash advance apr, balance transfer apr and default apr. the difference between these aprs might be confusing at first but they are pretty simple to understand.
introductory apr refers to the initial interest rate you receive for purchases on the credit card when you first get it. this introductory apr is usually really low (around 0%) and lasts between 6 and 12 months.
standard apr is the interest rate the credit card goes up to after the introductory apr period is over.
cash advance apr is the interest rate you receive for cash advances.
balance transfer apr is the interest rate you receive for any credit card balances you transfer over to your new credit card. as a side note, if you have a high interest rate credit card and the new credit card company offers the introductory apr for balance transfers, transfer your balance to the new credit card if you can pay the balance off within the introductory apr period.
default apr is the interest rate your card goes up to if you are late on payments or go over your credit limit.
find personal credit cards and business credit cards that offer rewards, a low introductory rate on balance transfers and cash back. more credit card offers can be found at thecreditcardoffer.com.
article source: http://www.freeroller.net
Citi Simplicity: No Late Fee & Great Rewards, But Still A Credit Card After All
there has been great interest in the citi simplicity rewards card with no late fees. people cant believe it. no late fees? thats right. no late fees. russ nauta, ceo of online credit information portal credit card outlet, explains how late fees are avoided with this new card. the whole process is pretty simple. all you have to do to avoid late fees is use your card once during each billing cycle. this card is completely innovative as you dont get penalized for potential problems you could face that are out of your control. for example, postal delays during storms and processing delays.
in addition to no late fees, the citi simplicity rewards card offers a rewards program and membership into the thankyou network. this is how the rewards program works. consumers earn 5 thankyou points for every dollar spent at gas stations and drugstores for 12 months. after the first year, they receive one point for every dollar spent. they also receive 1 point for every dollar spent everywhere else. consumers also receive 10,000 bonus points after they make their first purchase within three months of receiving their new card. these points are redeemable for a $100 gift card to one of their favorite stores or restaurants.
despite the many appealing, consumer friendly elements of these citibank credit cards, one important element not to overlook is the potential default rate. missing a payment or two by a couple of days will probably leave your account in good standing. however, if you do not pay your bill for 30 or more days, you may end up getting charged with a 25% or higher interest rate.
so much for the simplicity life? well, not exactly. if you pay your citi simplicity card as you would any other credit card, you get all the convenience and value the simplicity card offers: a 0% interest rate, and, of course, no late fees. however, you cannot treat you monthly bill lightly. yes, you can pay late. but pushing the envelope could stick you with a very high interest rate.
copyright 2006 jeff weber. free online reprints of this article are allowed provided the resource box remains intact with a live link back tohttp://www.freeroller.net/mbs.cgi/mb1075995.citi simplicity credit card applications can be found at http://www.freeroller.net/mbs.cgi/mb1075995.
article source: http://ezinearticles.com/?expert=jeff_weber
Say Cheese
the smile credit card was in 2005 awarded the accolade of being the ?best credit card? at the guardian consumer finance awards, quite an achievement but when you consider it is the four year in a row that it has done so, speaks volumes of what type of credit card you will be buying into, if you feel that this is the right credit card for you.
launched by the co-operative bank the smile credit card will also give you a better rate of apr on your card if you already bank with the company, so rewarding existing customers is high on the agenda. for example the standard apr for new customers is a competitive 12.8%(variable) a great rate, but if you are already banking with the company, you could see almost 3% cut from this apr, which will give you an annual apr of 9.9%(typical/variable) and add to that 0.5% cash back.
here are some crackers.
smile! you will if you apply for this credit card and you will have a grin that you will find hard to wipe from your face, if you are a current customer or decide to bank with the co-op as well by having a current account. at last a credit card and bank that will reward custom.
peter kenny is a writer for creditcards-gb
for additional articles and an extensive resource for everything about credit cards, please visit us at http://www.freeroller.net/mbs.cgi/mb1071669 and http://www.creditcards2go4.com
article source: http://ezinearticles.com/?expert=peter_kenny
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