Low Intro APR
No Annual Fee
Cash Back
Reward Cards
VISA
Mastercard
Business Credit C.
Balance transfer
Student Credit Cards
Frequent Flyer
Gold Cards
platinum Cards

Advanta
American Express
Bank of America
Bank One
Chase Manhattan
Discover

Bankruptcy
Slow Credit
Average Credit
Excellent Credit

So you’re up to your ears in credit card debt and you want to get it down below your ankles. Well, having been in the same sinking boat, there are ways to bail out.

If you’re like most people in deep credit card debt, you are maxed out on more than one card. Let’s say for the sake of argument you have three cards and they’re all maxed out. Gather your statements together and check out your APRs on each card. The card with the highest APR is the one you want to pay off first. Why? You’re paying the most in interest – money you never spent in the first place. And the longer you carry a balance on this high rate card, the more money it will cost you to pay off.

What if all of your cards have the same interest rate? Determine which card has the highest balance and work to pay that one off first. The higher the balance, the more you are paying in interest. With your remaining credit cards, try to at least pay off the minimum balance due every month. This keeps your interest rates down and as long as you pay the minimum, you avoid paying late fees and getting dings on your credit score.

Should you consolidate to one card? It’s certainly an option. Lots of cards will allow you to consolidate your debt on to one account – it’s in their best interest to do it because you are now paying all your interest to them instead of to different institutions. This also works in your favor because you can leverage the offers of one card against another. If you receive a off for a 0% balance transfer, study the terms carefully. If you are diligent in paying off your credit cards, it can work in your favor. If not, and you break the terms of the agreement, you’ll likely end up paying enormous interest fees that are higher than what you started with.

Once you pay off a credit card, cut it up but DO NOT CANCEL IT! Canceling a credit card sends a message to the credit reporting agencies that you can’t handle your debt and is a negative mark on your credit score. You can have a hundred accounts open with zero balances and it looks better for your credit than if you cancel three credit cards.

About the Author:

Dylan White is not a certified credit counselor. He is a “debt survivor” having been deep in debt and found his way out. He runs the credit card informational site http://credit-card-corner.blogspot.com and updates it regularly with new links and information.

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

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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.