Many of us don’t give a heed to APR while choosing the perfect credit card for you from the various types of credit cards available in the market and then regret our decision of not choosing the suitable one while selecting the credit card. Leave this, many of us don’t even know about APR. So let’s first talk about the APR. What is APR? APR is known as the annual percentage rate, the rate of interest at which you have to repay the amount you use from your credit card. Also, it includes your annual and monthly fees on the credit cards. A lot of us don’t give much attention to it and choose the credit cards without looking at what APR bank is charging on your credit card. The APR solely depends on the purchases you do with your credit cards. O APR credit cards make you able to use your credit cards without paying any interest on the purchases made by you.
The annual percentage rates generally differ from bank to bank as it can go from a minimum of 13% per annum to a maximum of 29% per annum, which you should consider before opting for it. The higher the rate of interest, the more you have to pay for every purchase by your card. One should also check the various fees involved with it to reduce the overall payment of your credit cards. Some banks provide you the opportunity of availing a credit card with absolute zero APR. Such cards are known as 0 APR credit cards. If you want to know more about these credit cards, you just have to keep reading this article. HSBC Platinum Credit Card: This credit card from HSBC India comes with absolutely no annual fee on using your credit card. Laced with features like one free ticket on the purchase of one ticket, and amazing offers on movies, shopping, and dining, this credit card is suitable for the people who love to shop and watch movies. ICICI Platinum Chip Credit Card: This credit card from ICICI Bank provides you to use your credit cards with no annual fees. You’ll enjoy having this credit card if you find yourself dining out more than often, as this card helps you in saving a minimum of 15% on dining at partner restaurants. SimplyCLICK SBI Card: This SBI credit card doesn’t come with a zero annual fee straight away but with an annual fee of Rs 499, but it would get reversed on spending the amount of 1 lakh in one year. So technically, it is one of those 0 APR credit cards available in the market. HDFC Freedom Credit Card: This credit card comes with an annual fee of Rs 500 but there’s a way to get it waived off completely by spending Rs 60,000 in a year through your credit card. Apart from this, you get a minimum of 5X reward points on every transaction made by you on dining, movies, grocery, or shopping. This card is suitable for you if you’rea shopaholic.
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Anika Sharma
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