Why do credit card companies have an introductory APR?
Annual Percentage Rate (APR) is the amount of interest that is charged yearly. Most major card issuer will offer an introductory (low or 0%) rate on a new account for a specified amount of time, it generally will have several stipulations to keeping the IR valid.
Many credit card companies currently offer low APR to their cardholders. Both Capital One and Discover offer introductory rates of 0% APR with rates increases after certain time periods. After the introductory period has passed, rates average between 10% - 20% depending on credit history and company.
First of all, APR is annual percentage rate, or how much of a percentage companies charge you for using a credit card or asking for a loan. One company that has low APR rates is "Citi." Although looking for companies with low APR rates is a good idea, a person can further lower their APR rate with negotiation.
There are several different credit card companies that offer 0% APR on sign in for several months. Citi credit card offers 0% APR for 18 months, Capital One offers 0% APR until August of 2013, Discover offers 0% APR for 15 months and Chase offers 0% APR for 15 months as well. To narrow these down you will want to review interest rates after the initial 0% rate and choose the credit card that will…
There are many companies right now offering a 0% APR credit card right now. Some of these companies include Capitol One's VentureOne, Capitol One's CashOne, Chase Freedom's Visa, American Express Blue Cash Everyday, Citi's Simplicity Card and Disney rewards card. Some of these companies are offering this to qualified applicants for a limited time only.
There is a large competitive pool of credit card companies that offer 0% APR rates. Some of these companies are; Discover, Citicard, Bank of America and Nation Wide. One must be careful with 0% APR offers because some companies offer it for a limited time or have other fees that are higher than other companies.
"Just like any other credit card, one can apply on line or at your bank and/or any bank. But just like any other credit card it depends on your credit history and there is no way to say whether or not you can get approved 100% on an APR credit card as the same standards apply to it as do to any credit card."
How long do you have to wait after closing a credit card account before you can reopen it again with the 0 percent apr introductory rates?
APR or annual percentage rate is a financial term and as such a person can get more information on that in books on financial mathematics or in an encyclopedia - or online in the Wikipedia. The APR of a given credit should be specified in the contract or in the brochure. For a low interest credit card, you have basically two options. First, there are cards with an introductory zero interest period. These are suited…