Low Interest Credit Cards
Low interest credit cards or even 0% interest credit cards are available.
The only downside to consumers is that the period of low interest credit
cards is limited to a fixed term, usually between 6 and 12 months after
which a higher rate is charged. However, services are available which alert
credit card holders when their low interest period is due to expire. Most
such services charge a monthly or annual fee.
Choose a Card
A credit card is a system of payment named after the small
plastic card issued to users of the system. A credit card is different from
a debit card in that it does not remove money from the user's account after
every transaction. In the case of credit cards, the issuer lends money to
the consumer (or the user) to be paid to the merchant. It is also different
from a charge card (though this name is sometimes used by the public to
describe credit cards), which requires the balance to be paid in full each
month. In contrast, a credit card allows the consumer to 'revolve' their
balance, at the cost of having interest charged. Most credit cards are the
same shape and size, as specified by the ISO 7810 standard.
A user is issued credit after an account has been approved by the credit
provider, and is given a credit card, with which the user will be able to
make purchases from merchants accepting that credit card up to a
pre-established credit limit. Often a general bank issues the credit, but
sometimes a captive bank created to issue a particular brand of credit card,
such as Chase, Wells Fargo or Bank of America issues the credit.