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Very often, credit card companies offer a low "introductory"
rate. This low rate is generally for a short period of time,
usually 6 months. After the expiry of that period the rate
rises to a higher fixed interest rate. Though the low introductory
interest rates initially seem attractive they may prove to
be costly in the future. But if you are planning to pay off
the balance before the introductory rate expires, then credit
cards with a low introductory APR or low interest rate can
actually save you money.
However, if you plan to own a credit card for a long period
of time then a fixed low interest rate credit card might be
right for you. With a fixed low APR credit card you know what
your interest rate will be.
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