Lowest Interest Rate Credit Card

There are many reasons for applying for a lowest Interest Rate Credit Card. I will name a few and explain more of the benefits of each.

The lowest Interest rate Credit Card that I am going to explain more about is “Iberia B4ank Visa Gold Credit Card”. This Visa card offers a cash back rewards program.

·         The Reward is 1% in cash back credit on all qualifying purchases

·         No limit on cash back

The interest offered featured on the “Iberia Bank Visa Gold Credit Card”  is the lowest interest rate credit card very competitive with other rewards cards, but not every applicant is guaranteed the lowest APR. This depends entirely on the applicant’s credit score. The applicant may be approved at a higher interest rate, but the same cash reward program will still apply.

The APR rate is linked to the USA Prime Rate/Treasury bill rate; as of reviewing this information the rate is at 4.00%.

·         A Variable APR for Purchases will be 8.00%, 9.00% or 10.00%. Depending on your credit score.

·         APR for Balance Transfers will be 0% for 6 billing periods, there after the variable purchase APR will determine your APR%

·         A variable APR for cash advances will be 12.00%, 13.00% or 14.00%. Depending on your credit score.

·         If you default on payment the APR will be 22%

There is a grace period of 25 days; this means you have 25 days to repay your balance for purchases before a finance charge will be imposed. If the new balance is not paid in full within 25 days, a finance charge will apply to both of the balances.

They use the average daily balance method for computing the balance for purchases.

Fees:   There are always fees for having a credit card. Here is a list of them:

·         Cash Advance Fee (5% or $5 minimum)

·         Late Fee ($15.00 to $35.00 depending on how much you owe)

·         Over-limit Fee ($35.00)

·         Foreign Transaction Fee (2%)

 

Balance Transfers:   The credit card company is willing to take on your balance at 0% APR for the first 6 months. That alone could be a huge saving to you; also there is no balance transfer fee!

Other Points:

·         There is no annual card fee.

·         There is no transaction fee

·         There is a minimum finance fee of $1.00

·         Zero Liability on unauthorized purchases

·         Online access to credit card account information

·         No transaction fees for balance transfer

·         Travel accident coverage up to $500 000

 

Necessities for Online Applications:   Online applications afford the quickest response time for credit card approval. Be prepared however, to answer the following questions online when applying for “Iberia Bank Visa Gold Credit Card”

Contact Information

·         Full names

·         Street Address

·         Renting or own a house

·         Social Security number

·         Mother’s maiden name

·         Email address

·         Bank of America Accounts (if you have any)

·         Employment information

If you plan on doing a balance transfer have this information nearby:

·         Name of the card you want to transfer balance from

·         The account number of the card

·         Balance of the account

If your application is successful you will receive your new card within a week or so. Balance transfers tend to take longer so be in touch with Iberia Bank