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There has been great interest in the Citi Simplicity Rewards Card with no late fees. People can't believe it. No late fees? That's right. No late fees. Russ Nauta, CEO of online credit information portal Credit Card Outlet, explains how late fees are avoided with this new card. "The whole process is pretty simple. All you have to do to avoid late fees is use your card once during each billing cycle. This card is completely innovative as you don't get penalized for potential problems you could face that are out of your control. For example, postal delays during storms and processing delays."

In addition to no late fees, the Citi Simplicity Rewards Card offers a rewards program and membership into the ThankYou Network. This is how the rewards program works. Consumers earn 5 ThankYou points for every dollar spent at gas stations and drugstores for 12 months. After the first year, they receive one point for every dollar spent. They also receive 1 point for every dollar spent everywhere else. Consumers also receive 10,000 bonus points after they make their first purchase within three months of receiving their new card. These points are redeemable for a $100 gift card to one of their favorite stores or restaurants.

Despite the many appealing, consumer friendly elements of these Citibank credit cards, one important element not to overlook is the potential default rate. Missing a payment or two by a couple of days will probably leave your account in good standing. However, if you do not pay your bill for 30 or more days, you may end up getting charged with a 25% or higher interest rate.

So much for the simplicity life? Well, not exactly. If you pay your Citi Simplicity card as you would any other credit card, you get all the convenience and value the Simplicity card offers: a 0% interest rate, and, of course, no late fees. However, you cannot treat you monthly bill lightly. Yes, you can pay late. But pushing the envelope could stick you with a very high interest rate.

Copyright 2006 Jeff Weber. Free online reprints of this article are allowed provided the resource box remains intact with a live link back tohttp://www.credit-card-depot.com.Citi Simplicity credit card applications can be found at http://www.Credit-Card-Depot.com.

Article Source: http://EzineArticles.com/?expert=Jeff_Weber

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Yes, low APR credit cards are on the rise. Many credit cards are competing for your business to give you the best and lowest rates available today. There are so many credit cards from you to choose from that they are doing all kinds of things to get your attention including lowering their interest rate and giving you no annual fees.

Why is this happening? Because there are so many credit card companies. They all want your business and this is an attractive incentive to get you to apply and own one of their credit cards. If you choose a low APR credit card over one with 19.99 percent you are sure to go with the lower APR.

The only problem is that sometime these 0% and low APR credit cards are only promotional ways to get you to apply and then later your interest rate will rise. Many credit card companies have low APR credit cards for a certain amount of time such as 3 months, 6 months and some up to one year. You will have to compare to find out which one keeps the lower APR after the promotional period to ensure you are getting the best deal around.

No matter what the reason low APR credit cards are here to stay as long as the companies are competing for your business. Just remember to compare everything they offer besides the lower interest rate. You may find that several credit card companies are now offering other wonderful incentives for you to apply with them such as reward programs.

No matter which company you choose, you will enjoy the low APR credit cards even if it is only for a limited time. You will be able to save money on your purchases because you will not have to pay any interest until the promotional period is over. Just be sure your balance is very low when the interest rate kicks in and you will be fine.