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Entrepreneurship requires persistence, organization, confidence and financial know-how. If you are an entrepreneur, you may be dedicating your own money to getting your business off the ground. That may leave you with limited personal funds. A credit card can help solve this problem. However, you definitely want to only apply for credit cards with low APR. Otherwise, you may be entering into a lifetime of debt with just a single card, which is just as damaging as short term loans. Find out the credit cards with the best APR below.
Barclaycard Ring Mastercard
The Barclaycard Ring Mastercard credit card is like no other credit card you have ever had. This card is a “social credit card.” That means it is built around a profit-sharing arrangement for all active cardholder. With this card, you receive a portion of Barclaycard’s profit based upon your level of interaction in the community and amount of referrals. In addition to that cool feature, you also get 0% introductory APR for 15 months, then 13.74% for all cardholders for purchases, balance transfers and cash advances. This is an excellent credit card with some of the best APR rates out there. Consider it if you have a good credit score.
Citi Simplicity
The Citi Simplicity card is one of the few credit cards with no late fees. While this could help you form an unhealthy financial habit of paying your credit card late, it is also helpful for those months you have cash flow problems with your new business. In addition, the Citi Simplicity card also offers the longest introductory 0% APR period. It lasts 21 months. After that, you can still benefit from 14.49% – 24.49% APR, which is not the best APR. However, it may be worth opening an account if you want to transfer balances.
PenFed Promise Visa
The PenFed Promise Visa is probably a credit card you have not heard of before. However, it offers some of the best APR rates you could ask for. This card also offers the incredible benefit of charging no fees to customers at all. That means no late fess, annual fees, balance transfer fees or even cash advance fees. While there is no introductory APR rates, the card’s standard APR rates are variable between 9.24% to 17.99%. This is some of the lowest variable APR available. Consider this card if you do not plan to transfer a balance, but still want to use a credit card with the lowest APR around.
Capital One VentureOne Rewards
The Capital One VentureOne Rewards card is another great credit card with low APR that is available to those with good credit. This card offers unlimited 1.25 miles per dollar spent on every purchase perks with no annual fee. After racking up some points you can travel to Europe, like you have wanted to for awhile. Just be sure to figure out the Euro rate before you go. In addition to these incredible perks, the card also has some of the lowest APR out there, with an introductory APR of 0% for 12 months. Following the introductory period, the regular APR for the card is variable between 12.99% and 22.99%. While this is not the best APR, it is one of the best rewards cards with low APR that you will find out there. Consider this card if you want a rewards credit card with no annual fee.
Discover It
The Discover It card is one of the few cash back rewards cards with low APR. If you choose to get this card, all purchases automatically earn you 1% cash back with no restrictions or caps. Also, all rewards accrued are doubled for the first year. The card has an introductory 0% APR period of 14 months. Then after that, the card has a variable APR of 11.74% – 23.74% depending on creditworthiness. The Discover It credit card also features a tool to let you turn off account features, like freezing new purchases or cash advances, as well as providing your credit score free each month. If you want a great cash back rewards card with some of the lowest APR possible, consider the Discover It card.
If you are an entrepreneur, you probably have a ton of expenses on the horizon. This may tie up your personal finances for some time while you get your business idea off the ground. Thankfully, you can apply for credit cards with low APR to tide you over until you are in a better place financially. This is a much better option than looking for easy loans that can have incredibly high interest rates. Consider the credit cards with the best APR above. These rates are some of the best you will find. That way, you will not have to worry about hurting your financial health just to start your own business.
Photo from https://www.moneyunder30.com/0-apr-credit-cards-for-purchases
