Credit is an important everyday component of adult life. When you are a young college student or are just starting out in the workforce, you will constantly hear about the importance of building credit. Having at least one credit card and using it responsibly is a key reason why you will be able to buy a new home or car in the future, as most banks and other financial institutions will only give loans to individuals with good credit. Having bad credit, on the other hand, can lead to a myriad of problems you will have to face in the future. However, if you can use credit wisely and pay your bills fully on a regular basis, you can gain wonderful benefits. One of these is a low interest credit card.
The Chase Freedom Visa - $50 Bonus Cash Back is an excellent choice of low interest credit card that requires the individual has a history of good to excellent credit. To that end, the holder must have any prior bankruptcies and delinquent accounts cleared from their name. You will receive a zero percent introductory APR percentage rate on all balance transfers for 12 months, and for six months, on all your purchases made on the card. After this period of time, your APR will go up to anywhere from 9.99 to 22.99 percent, depending on your spending and bill paying habits while using your card. However, this is not where the perks end, as you can also earn five percent cash back bonuses on up to $1,500 that is spent on entertainment such as dining and movie theaters in addition to purchases made at department stores and charitable giving. You can also get a five percent cash bonus in certain categories on a quarterly basis when you make purchases at supermarkets, drug stores, home improvement stores and gas stations. An unlimited one percent cash back bonus is also earned on all your other purchases. Shopping online at specific stores through Chase can earn you an additional 10 percent cash back bonus. You will also never have to deal with any annual fees, and best of all, the rewards this Visa card carries don't ever expire.
Capital One Platinum Prestige MasterCard is another good choice of low interest credit card. Excellent credit is required in order to be approved for the card, and there is no annual fee. Introductory APR is zero percent on all purchases and balance transfers until December 2012, and thereafter, the rate will increase to 10.9 to 18.9 percent. You can personalize this credit card by selecting an image of your choice. You are also entitled to a zero dollar fraud liability in the event that you lose your credit card or if it or your information is stolen.
The Citi Platinum Select MasterCard is also meant for those individuals who maintain excellent credit and who want to gain special bonuses on travel, gift cards and other purchases. The introductory APR percentage is zero for 21 months on both balance transfers and purchases and later rises to 11.99 to 20.99 percent. This amount is dependent on your creditworthiness, so the better and more responsible you are at using your credit card and paying off your debts on it, the lower your APR will be.