Credit Card Consumer Guide Credit Card Application
Credit Card Basics
Choosing credit cards
Reading fine prints
Interest rates
Billing errors
Balance Transfer
 
Credit Card Offers
Low APR credit cards
Low intro rate cards
Business credit cards
Student credit cards
Reward credit cards
Airline credit cards
Secured credit cards
Unsecured credit cards
Visa credit cards
MasterCard credit cards
Apply for a credit cards
 
Your Credit Rating
Your credit rating
Good credit
Bad credit
No credit
 
Credit Card Usage
Money Saving Tips
Unauthorized Transaction
Prevent Late Payments
Credit Card Usage TIPS
 
Credit Card Debt
Credit Card Debt
Debt Reducation Strategies
Debt Consolidation
 
Consumer News
 
 


How APRs Make A Difference

How APRs make a difference

Here is an excellent example of how transferring your balance to a credit card with lower interest and no annual fee can save you money can save you money.


In this example, the monthly balance carried forward equals $2,500, which is about the national average for consumers with credit card debt.

Terms Plan A Plan B
Average monthly balance $2,500 $2,500
APR 18% 14%
Amount paid in finance charges annually $450 $350
Annual Fee $ 20 $ 0
Total Cost $470 $350

The total possible savings each year achieved by selecting a credit card plan with a lower interest rate and no annual fee in this example is $120 ($470 - $350).


Privacy Policy