When looking through credit card offers, it is important to look past the teaser introductory rate and find the actual interest rate associated with the card. The interest rate is the actual rate you will pay on transactions for the life of the card. There are two types of interest rates available: fixed and variable. A fixed rate is the preferred way to go because the rate will always stay the same for as long as you have the card. With a variable rate card, the interest can go up over a period of time based on the issuer. This is bad because you might start with a low interest rate, but end up with a high rate over time. When looking for a new credit card, the key is to look for a low interest credit card offering a fixed rate. Below are the reviews of two low interest rate credit cards with fixed rates. Pulaski Bank Visa / MasterCard The Pulaski Bank Visa/ MasterCard is a great card for users who are looking for a low cost, low interest credit card and have an average credit history. This card offers an attractive introductory rate of 0% for the first six months on balance transfers and purchases. The best feature of this credit card is the low interest rate. Users can receive a fixed interest rate of 7.99% on purchases, cash advances, and balance transfers. This is great for those who plan to carry a balance from month to month. Aside from the rate, this card has an annual fee of $35, which is very reasonable considering the low rate. The only downside to this card is the fact that there are no extraordinary benefits offered, which is not an issue for most users. The Pulaski Bank Visa/MasterCard is an ideal card for users who want a low interest credit card and don't mind the lack of special benefits. Bank of America Rewards American Express Card The Bank of America Rewards Card is ideal for users with average credit who are looking for a low interest rate credit card that allows them to participate in a rewards program. This card has no annual fee and offers a 0% introductory rate on balance transfers and cash advances for the first year. After the intro rate, users will then have a very low fixed interest rate of 9.99% on purchases and balance transfers. Cardholders can also participate in a rewards program that allows them to earn one point for every dollar spent on the card. The rewards points can then be redeemed for cash, merchandise, gift certificates, hotel discounts, and travel discounts. Aside from the low rate and rewards program, this card also offers benefits such as a personal concierge service, identity theft recovery, and fraud protection. If you would like to participate in a rewards program while taking advantage of a low interest rate, then the Bank of America Rewards Card from American Express is the card for you.
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