What Are the Best Low APR Credit Cards Available?

As an expert in the world of credit cards, I am often asked about the best low APR credit cards available. In today's market, there are many options to choose from, so it can be overwhelming for consumers to decide which card is right for them. In this article, I will outline some of the best low APR credit cards on the market and provide some tips and tricks for making the most of your credit card.

Best Low APR Credit Cards

1. Chase Freedom Unlimited: This card offers a 0% introductory APR for the first 15 months on purchases and balance transfers. After that, the APR ranges from 14.99% to 23.74%. The card also has no annual fee and offers cash back rewards on purchases.

2. Discover it Cash Back: This card offers a 0% introductory APR for the first 14 months on purchases and balance transfers. After that, the APR ranges from 11.99% to 22.99%. The card also has no annual fee and offers cash back rewards on purchases.

3. Citi Diamond Preferred: This card offers a 0% introductory APR for the first 18 months on purchases and balance transfers. After that, the APR ranges from 14.74% to 24.74%. The card also has no annual fee.

Tips and Tricks for Using Low APR Credit Cards

1. Pay off your balance in full each month: While a low APR can be helpful, it's important to remember that carrying a balance can quickly add up in interest charges. Make sure to pay off your balance in full each month to avoid unnecessary interest charges.

2. Use your card strategically: Low APR cards can be useful for making large purchases or consolidating debt, but it's important to use your card strategically. Make a plan to pay off your balance before the introductory period ends to avoid high interest charges.

3. Avoid cash advances: Cash advances usually come with high fees and even higher interest rates. Avoid using your low APR card for cash advances to save money in the long run.

Saving Money on Credit Cards

1. Look for cards with no annual fee: Many credit cards come with annual fees, which can quickly add up. Look for cards with no annual fee to save money.

2. Take advantage of rewards programs: Many credit cards offer cash back or other rewards on purchases. Make sure to take advantage of these programs to save money on everyday expenses.

3. Avoid balance transfer fees: When transferring balances from one card to another, make sure to look for cards with no balance transfer fees. This can save you hundreds of dollars in the long run.

Avoiding Credit Card Risks

1. Monitor your credit score: Your credit score is an important factor in determining your creditworthiness. Make sure to monitor your score and address any errors or issues as soon as possible.

2. Avoid maxing out your card: Maxing out your credit card can hurt your credit score and make it more difficult to get approved for future credit. Try to keep your balance below 30% of your credit limit.

3. Be wary of scams: Unfortunately, credit card scams are all too common. Be wary of unsolicited offers and never give out your personal information to anyone you don't trust.

In conclusion, low APR credit cards can be a useful tool for managing your finances. By choosing the right card and using it strategically, you can save money and avoid unnecessary risks. Make sure to do your research, monitor your credit score, and use your card responsibly to make the most of your credit card.