First of all, it is vital that we understand what is the meaning of APR? APR stands for "Annual Percentage Rate" which means the amount which comes our of your pocket in case you fail to pay the full credited amount on the due date. In other words, it is the interest that you will pay in case you are not able to pay the full amount of credit. APR, is difficult to pay as the interest calculated on it is the compound rate as compared to the simple interest calculated on your bill.
Revolving balance on a credit card is a new things which Indians are learning fast. However, revolve a balance on at least one credit card and paying only the minimum balance each time does not have many benefits. In this way, Credit card balances can literally take decades to pay down when only making the minimum payments.
For this the best measure would be to find a low interest rate APR credit card. Once you are approved for a low APR credit card. you can usually transfer balances and begin saving right away. it is imperative that you don't use the slack created by your new low APR credit card to get into more financial trouble by piling onto your existing debt or spending the savings somewhere else. Begin paying down the principal with the money you were spending on interest and that debt will begin to slowly but surely disappear.
This is one of the ways of getting the APR credit cards in your hands and coming out of the ongoing debt. Balance transfer is another way of getting out of the cycle of debt; but, for this you will have to look for a good credit card which will give you the best APR approvals.
Kotak Mahindra Bank offer the Low Interest Credit Cards which are best in their deals, offer good benefits and have a CPP protection. Awarded the Product of the Year, these first Vertical Cards of India, offer the best deals in terms of service, benefits and quality. Their terms and conditions are certainly incomparable.
Revolving balance on a credit card is a new things which Indians are learning fast. However, revolve a balance on at least one credit card and paying only the minimum balance each time does not have many benefits. In this way, Credit card balances can literally take decades to pay down when only making the minimum payments.
For this the best measure would be to find a low interest rate APR credit card. Once you are approved for a low APR credit card. you can usually transfer balances and begin saving right away. it is imperative that you don't use the slack created by your new low APR credit card to get into more financial trouble by piling onto your existing debt or spending the savings somewhere else. Begin paying down the principal with the money you were spending on interest and that debt will begin to slowly but surely disappear.
This is one of the ways of getting the APR credit cards in your hands and coming out of the ongoing debt. Balance transfer is another way of getting out of the cycle of debt; but, for this you will have to look for a good credit card which will give you the best APR approvals.
Kotak Mahindra Bank offer the Low Interest Credit Cards which are best in their deals, offer good benefits and have a CPP protection. Awarded the Product of the Year, these first Vertical Cards of India, offer the best deals in terms of service, benefits and quality. Their terms and conditions are certainly incomparable.
SHARE
