SEATTLE, WA — (Marketwired) — 09/24/14 — There are many consumers that end up in situations where they need to pay bills, but are unable to pay off their balance every month. A lot of things can happen, such as receiving an unexpected bill or losing a job, that make it hard to pay a bill in full. Once one starts carrying a balance, it is often hard to pay down the balance, because of interest rates and continual use of the credit card.
Luckily, there are a few credit card companies that offer cards to help those carrying a balance. These credit cards often offer a 0% intro APR, allowing cardholders pay zero interest on any of their purchases for an intro APR period. Many of these cards also offer great rates after the initial intro 0% APR, so consumers don–t get charged hefty interest if their cards are not paid off by the time the intro period ends. According to , an expert credit authority, these are the top credit cards for carrying a balance:
The Barclaycard Ring MasterCard is a great card to use when carrying a balance. The card has a low variable APR starting at just 8%. The APR is the same for both purchases and balance transfers, making it easy for cardholders who carry a balance to keep track of their balance. The Barclaycard Ring MasterCard also has no annual fees or balance transfer fees, saving cardholders from paying high fees. The card also minimizes other fees, such as having a $1 fee for cash advances, 1% on foreign transactions, and late payments have a maximum late fee of only $25. Members have access to their accounts online for free so that they can view their statements and pay their bills at any time.
The Discover it credit card is another great card to have when carrying a balance. The Discover it card has an initial 0% intro APR for the first 14 months. This allows cardholders to make purchases and balance transfers for the first 14 billing cycles without paying any interest. After the intro APR ends, the Discover it card has a low variable APR between 10.99% and 22.99%, allowing cardholders to continue paying off their balance without being charged high interest on their current balance. Also, late payments will not increase the cardholders APR. In addition to having a great APR, the Discover It card also has no annual fee and has a low 3% fee on balance transfers. Cardholders can also view their credit score each month on the statements, and there is a generous cash back program allowing cardholders to receive 5% cash back on certain categories throughout the year and 1% cash back on all other purchases.
The final credit card that is great for carrying a balance is the U.S. Bank Visa Platinum Card. This card offers a special 0% introductory APR on balance transfers and purchases for the first 12 months. Consumers can easily transfer a balance from a card with a higher APR so that they will be able to carry the balance for up to 12 months without being charged any interest. The card will then have a variable APR started at just 9.99%. The U.S. Bank Visa Platinum Credit Card also offers other great benefits including zero fraud liability, fraud protection, free online banking, and a feature to pay your bill automatically each month. There is also FlexControl that can help cardholders avoid interest and late fees by automatically paying the bills, and it also helps pay down a balance faster.
These three credit cards are the best ones to have when carrying a balance. The cards allow consumers to reduce the amount of interest charged so that it is easy pay down the balance and avoid outrageous interest charges.
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