There are so many features available in today’s credit cards that anyone can easily get lost if they do not know what to look for. A low interest cash back credit card is no different. There many features to look at such as reward categories, interest rates, balance transfer options, introductory rates or balance transfer fees to name a few. In order to determine what is going to be the best rewards card for your self you need to determine your lifestyle, income level, and what your main purpose is for having a low interest cash back credit card. Before applying for cash rewards card please take a look a the following criteria.
The most important feature to look for in a low interest cash back rewards credit card is obviously the annual APR, or annual percentage rate. There are many offers available in today’s market with a wide range of interest rates. Remember that there are also many cards available with an introductory rate offer that is only going to be good for the trial period. This period can many times range from 6 months, 12 months and 18 months. Do not confuse the introductory offer for being the normal interest rate that you are going to pay. You need to know what the introductory offer rate is after the trial period is over. That is the one that counts.
The next most important feature to look it in a low APR card is the rewards offer it self. This where you need to take a look at your lifestyle, spending habits and most frequented places before you choose on a low interest cash back rewards credit card. There are rewards categories available in just about anything that you can think of. If you are someone who likes to work around the house a lot then perhaps you should choose a card that offers cash back rewards from places such as Lowe’s or Home Depot. If you are a practical person than you should probably try to find a low interest cash back rewards credit card category that allows you to earn cash back by using your charge card at the grocery stores. Many low interest cash back rewards credit card providers also have featured merchants with whom they partner and allow you to earn special cash back rewards by making purchases from these specific merchants.
If you are going to use cash rewards credit card for a balance transfer than you might want to know if any balance transfer fees apply. These days many low card offer providers are charging a 3% or so on top the the balance that you want to transfer in order to process the transaction. Also when applying for a low APR cash back card you might want to double check the terms and conditions if your are applying for a introductory offer credit card. Pay attention to if the introductory rate offer is being applied towards purchases or towards balance transfers. Many times providers will give more time on the introductory offer for purchases and less time for balance transfers.
Lastly, if you are looking for a rewards card be sure and choose one that suits your life style the best. Choose your rewards category carefully. Do not choose a rewards category that does not fit your life style. Do not choose a card that offers airlines rewards if you do not plan to do any traveling any time soon. Lastly, always look for a low interest cash back rewards credit card that will accent your life, not complicate it.