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Using Low Interest Credit Cards - Leading Website Guides Consumers
CreditCardAssist.com announces service that guides consumers on how to best use low interest credit cards.
/24-7PressRelease/ - April 28, 2006 - In a never-ending quest to save money, consumers are continually in search of the
most compelling low interest rate credit cards. Yet, many are unaware of the potential hidden costs involved with these low
interest credit cards, but most consumers are not fully aware of just how much money can actually be saved, when used
properly, by using a low interest credit card. CreditCardAssist.com, one of the leading online credit card comparison
websites, guides consumers on the use of low interest credit cards (
http://www.creditcardassist.com/lowinterest/creditcards.html ) by providing them with helpful articles and a wealth of
information about a variety of cards.
According to the web site, low interest rate credit cards can potentially save consumers hundreds, and sometimes
thousands of dollars per year. A cardholder carrying a balance of just $1,000 will spend $200 per year in finance charges
with a credit card with a 20% APR. A low interest rate credit card with an APR of 8%, on the other hand, should only cost
around $80 per year. Furthermore, recent studies have shown that the average American carries $9,000 of debt on his or
her credit card. With this type of balance, a low interest credit card provides substantial savings and should be considered a
priority for all consumers.
The site warns consumers about the different methods used to determine finance charges and how these methods can
impact the financial bottom-line for them. The most common method is the Average Daily Balance method. Other low
interest credit cards, however, utilize the Two Cycles Average Daily Balance method. This method for calculating finance
charges is more expensive because it determines