Big credit card balance got you down? In search of a credit card application with the lowest rates? We've got you covered. Just click on the appropriate credit card application (arranged by credit issuing banks) link to get started.
Or, shop for the best credit card rates by Credit Card Type.
Want a card that gives you cash back? Or how about a card that earns you air miles? Are you a college student or a small-business owner?
Looking for a hassle-free card?
People looking to establish or re-establish credit should check out our listing of secured card offers. Responsible use of a credit card is a great way to build up a good credit rating. A secured card, which requires a cash deposit in exchange for a credit line, is a good way to start.
In just a couple of clicks, you can search for the best deals for people who:
Pay off monthly balances. Carry balances. Take out cash advances. Need to transfer a balance.
You can also search for cards with:
Long grace periods. Low interest rates. No annual fees. Lowest introductory rates.
Looking for a specific type of credit card? You can do a customized search for rebate and reward cards, credit union cards and business credit cards.
Whatever credit card you choose, be sure to study its terms and costs before signing on. Here are some key questions to ask.
Does the card have an annual fee? If you're looking for a no-frills, low-rate card offer, there's no reason to pay an annual fee. Avoid cards that charge them. Many rewards cards, such as the wildly popular air mile credit cards, and some super high-end prestige cards charge annual fees in exchange for rewards or perks and services. Weigh these offers carefully. Credit Card Application - Glossary
What is the card's APR? The lower the interest rate, the less money you'll pay when you carry a balance. Does the card come with a super-low introductory rate? How long does the teaser rate last? Will you be able to pay off your card balance before the teaser rate expires? Credit Card Application - Glossary
Is the APR fixed or variable? About 70 percent of all credit cards have variable rates. The interest rate on a variable-rate credit card fluctuates with an index. When the index shoots up, so does the card rate. When the index slips down, down goes the card rate. Credit Card Application - Glossary
Most issuers use The Wall Street Journal prime rate as an index. That prime rate usually falls the day after the Fed cuts rates. With 10 rate cuts in 11 months, it's been a good year for many variable-rate card customers.
Unlike variable-rate cards, the interest rate on a fixed-rate card does not fluctuate each month or each quarter. So if you sign on for a card with a fixed 12.99 percent rate, there's a good chance you'll be paying 12.99 percent for quite awhile.
But it's important to realize that a fixed-rate card deal could change at any time. According to federal law, issuers must give written notice of rate increases to fixed-rate cardholders a mere 15 days before the new rate takes effect. Credit Card Application - Glossary
Does a variable-rate card offer have a floor? Some variable-rate credit cards come with floors, also called minimum APRs. Once your card hits its floor, that's as low as it goes. Your interest rate won't drop any lower, regardless of future Fed cuts.
Twenty-six percent of variable-rate credit cards surveyed have floors. Seventy-three percent of those cards had hit their minimum APRs as of Oct. 3, 2001. The only direction the rate on these cards can go is up. Be sure to check for a minimum APR before signing on for a variable-rate card offer. Credit Card Application - Glossary
How long is the card's grace period? Most cards offer grace periods to customers that pay off their balances each month. A grace period is the period after a purchase is made during which interest is not charged. If payment is made in full by the end of the grace period, no interest is charged. But if only a partial payment is made, interest kicks in at the end of the grace period.
Many issuers have whittled down the interest-free grace periods on credit cards from 25 days to 20. Some credit cards have no grace periods whatsoever, which means the interest clock starts ticking after each and every purchase. Avoid them.What are the card's penalty policies? While nobody plans on missing a credit card payment or going over the limit, it's important to realize what will happen if you do. Credit Card Application - Glossary
Penalty rates and fees are on the rise. Some card issuer's policies are quite severe. Be sure to check. Pay careful attention to what will happen if you pay late during a card's introductory period. Will that super-low teaser rate disappear after one little mistake? Credit Card Application - Glossary
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