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The Best Low-Interest Credit Card


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#1 pangya88

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Posted 15 October 2005 - 07:59 PM

The Best Low-Interest Credit Card?

http://www.fool.com/...mft05083001.htm

By Selena Maranjian
08/30/2005

I was flipping through the August issue of SmartMoney magazine the other day and found something quite interesting and a little surprising.

The cover story featured the "World's Greatest Inventors." At first, I was a little surprised that someone like Thomas Edison or George Washington Carver wasn't on the cover. But then I noticed that the title was actually "World's Greatest Investors." All of a sudden, it made perfect sense that I was looking at photos of Warren Buffett, Peter Lynch, Bill Miller, etc.

The issue also featured an extensive review of brokerages (check out our own comparison chart of several solid brokerages -- several feature commissions below $8 per trade). HarrisDirect, a brokerage featured in our Broker Center, was rated No. 1 among discount brokerages. Kudos, HarrisDirect!

Then there was an article on teaching kids about money. I can't quibble with that. I believe in the urgency of that so much that I co-wrote The Motley Fool Investment Guide for Teens and assembled our free online content for teens.

OK, so are you ready for the surprise? It occurred on page 99, in an article titled, "The Best Credit Card for You." The article correctly affirmed that there's no perfect one-size-fits-all card, as different consumers have different needs. So it recommended the best card for those seeking cash back: Citigroup's Citi Dividend Platinum Select MasterCard. (Whew -- that's a mouthful!) And it recommended the best card for travel: Citi PremierPass MasterCard. And one for rewards: American Express's Preferred Rewards.

And the best card for those seeking low interest rates? Drum roll, please ... MBNA's Motley Fool Low Purchase APR Platinum Plus MasterCard! That's right -- you may or may not have realized that we offer spiffy credit cards (mine has jump-started many conversations when I whip it out), but you probably didn't realize that our cards are better than the average card. That's because we worked hard to negotiate the best packages we could for you.

SmartMoney said about our card: "For our money, the best bet is a solid, dependable, permanently low-interest card like the [Fool card]. It has no annual fee and a low, 6.9% fixed annual rate." It went on to warn readers, though, as I've done myself, that some card issuers are looking for reasons to hike rates significantly. So be careful out there.



#2 markber

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Posted 15 October 2005 - 09:00 PM

While Selena's article can be biased (fool.com gets profit from selling fool.com co-branded credit card), the lowest APR without annual fee that I get from CardOffers-powered iCrego database is 7.99%. So the fool.com card can indeed offer one the lowest APR.



#3 pangya88

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Posted 15 October 2005 - 09:25 PM

I'm sorry about the misunderstanding. I should have pointed out that Selena merely mentioned about a SmartMoney magazine article. (I wanted to post the original SmartMoney magazine article, but it is only available for paid subscribers.)

Basically SmartMoney Magazine did its own research and came up with 4 BEST credit cards in "The Best Credit Card for You" article on the August issue.

It recommended:

1. Citi Dividend Platinum Select MasterCard for cashback,
2. Citi PremierPass MasterCard for travel,
3. American Express Preferred Rewards for rewards,
4. MBNA Motley Fool Low Purchase APR Platinum Plus MasterCard for low interest rates.

Again sorry that I did not clarify this in the first place.







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