Chase offers a variety of credit cards to meet your needs. One of the most critical features of any credit card is its APR or annual percentage rate. If you’re looking for a new card and want to know what APR Chase has to offer, read on! We’ll also explain how APR works and give some tips for responsibly maintaining your balance.
What is APR?
APR stands for annual percentage rate. This is the interest you pay on your purchases if you do not pay the balance every month. Unfortunately, it cannot be easy to calculate this because so many different options and variables go into it! Fortunately, Chase has a calculator that makes it easy to figure out the exact cost of using their credit cards.
With any credit card purchase or transfer, except those made through an ATM, you’ll have 20 days where no interest charges apply at all, called “grace.” On top of this benefit (and most other benefits), by utilizing Chase’s Everyday Preferred Credit Card, customers receive 50% back as points when they make 30 transactions per billing period. There isn’t anything Chase doesn’t have to offer, and they are a top-notch company!
A credit card apr is just a fancy way of saying what you pay in interest each year. If you plan on paying off your balance every month, then an APR isn’t going to matter much – the only thing that matters is how high it is. The lower, the better!
Chase provides their customers with a calculator to figure out precisely the cost of using their credit cards.
Customers who use Chase’s Everyday Preferred Credit Card receive 50% back as points when making 30 transactions per billing period. There isn’t anything that Chase doesn’t have to offer!
How does APR affect your credit card balance?
The good news is that if you have a poor credit history, don’t worry! There are still options available to get approved for a better interest rate from Chase Bank. Our team will look at your situation and work hard to recommend products based on what’s best for you.
In many cases, customers may be eligible for lower rates via our “preferred pricing” program. So whether you’re interested in an unsecured credit card, a business card, or need to restructure your existing balance and save money, we will help you get the best possible deal on your next purchase.
The bad news is that as a result, you may not want to store your money in one place. Instead, it would be best if you considered putting it into an interest-bearing savings account or certificate of deposit (CD). These accounts can pay much better rates than short-term deposits, and they will be FDIC insured up to the maximum allowed by law.
Cash advance apr is usually very high in comparison with the purchase APR. This is because cash advances are considered higher-risk transactions, and they carry a greater level of associated fees than regular purchases.
Chase’s current credit card APR rates for various products and balances are as follows:
Credit card rates are in the mid-teens, while rates on home equity lines of credit range from about four to five percent. Chase offers several types of mortgages, including fixed-rate and adjustable-rate loans. The current interest rates on these products range from about three to six percent.
Chase has a wide selection of credit cards for borrowers who may be considering changing their cards or looking to get started with a new product.
Some notable deals include a 0 percent intro APR on purchases and balance transfers for 15 months, a $200 sign-up bonus after spending at least $500 within three months of opening the account, and no annual fee.
Borrowers with excellent credit may be able to qualify for Chase’s most elite cards, which boast rewards programs that include miles earned from travel, points that can be redeemed for cash or merchandise through Chase’s Ultimate Rewards portal, and no foreign transaction fees.
Credit card interest rates range from 13 to 24 percent — depending on the card and borrower’s creditworthiness.
Balance Transfers
Chase offers both promotional and ongoing intro APRs on balance transfers. Applicants who transfer balances of $100 or more within the first 60 days after opening their account may qualify for a 0 percent APR that lasts either six months or 12 months, depending upon the type of card.
Balance transfers must be completed within 60 days to get this deal, and the balance must be paid in full before it reverts to a regular APR.
New Purchases
Chase offers a constant rate of 11.24 percent on new purchases when credits cards are used responsibly. Applicants with excellent credit may qualify for this product, which features no annual fee, 15 months of 0 percent intro APRs on purchases and balance transfers, a $200 sign-up bonus after spending at least $500 within three months of opening the account, no foreign transaction fees and more.
Mortgages
Chase offers several types of mortgages for borrowers looking to purchase a new home or refinance an existing mortgage. The bank’s current interest rates range from about three to six percent.
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Credit cards for borrowers
Chase offers a wide selection of credit cards, including 0% intro APR on purchases and balance transfers for 15 months, no annual fee, a $200 sign-up bonus after spending at least $500 within three months of opening the account, no foreign transaction fees, and more.
A good credit card apr with a good credit report may also qualify for Chase’s most elite cards, which boast rewards programs that include miles earned from travel, points that can be redeemed for cash or merchandise through Chase’s Ultimate Rewards portal.
A credit card company like Chase has a wide selection of credit cards for borrowers like low-interest credit cards who may be considering changing their cards or looking to get started with a new product.
Chase offers to help you manage your account and improve your credit score.
This credit card’s apr is a little higher than average, so it’s not great for carrying a balance. However, this could be the perfect option to improve your credit score, and you need an easy way to access money when needed but don’t carry balances often or at all.
This card has a low APR and no fees for balance transfers. The Chase Slate® also doesn’t charge an annual fee, which means you can enjoy all the benefits of owning a credit card without having to pay extra each month.
The Chase Slate® is an excellent deposit account with many benefits for small business owners.
The APR stands at 15.99% – 25.24% Variable*, making it competitive but not the lowest you’ll find either. So we recommend that if you’re serious about getting an interest-free introductory period, or have excellent credit, consider applying for one of our top picks instead.
Ways to minimize the impact of high-interest rates on balances
Pay in full each month. If you don’t want to pay interest, this is the best way because you will not accrue any balance that needs time for compounding purposes.
Another great tip would be to look at cards with 0% introductory rates, but these can still have high fees and annual percentage rates (APR), so this should only be used sparingly.
A third option may also include opening up multiple credit card accounts, which might offer low or no APRs on purchases when opened. However, higher APRs are often associated with cash advances and balances transfers than their single account counterparts.
How do I apply for a new credit card with a low or promotional rate offer from Chase?
Visit the Chase website and click on “Apply Now” in the upper right-hand corner. Then provide all of your personal information, including address, birth date, social security number, etc., then choose whether or not you want to save your results for later viewing.
The last step is interesting because if approved, there will be a box that says, “Yes! I want to receive more offers from Chase.” If this option is selected, there may be additional credit cards offered after clicking continue.
This can include cash-back options with introductory rates and low fees, and annual percentage rates (APR). However, they offer no rewards when using them as balance transfer tools, so do not go overboard with opening multiple accounts just for this reason.
In conclusion
Chase offers credit cards with no annual fees, low-interest rates for purchases and balance transfers, cash-back options to save money on groceries, gas, travel expenses. Many factors determine credit scores. You can also apply online without having to go through a brief phone interview. If you’re on the look out for this kind of card, EdFed offers Credit Card programs that provide an in-depth comparison to other cards.
