Get a credit card before the government shutdown affect interest rates -
Now that the government is stopped, many experts are starting to grow concerned about the economic impact, particularly for interest rates. Over the next two weeks, the Treasury is supposed to ask investors for $ 120 billion in loans. If investors do not believe that the federal government will be able to pay them, they will raise interest rates on these loans, which will increase the interest rates on everything from mortgages to credit cards.
If the judgment goes on for an extended period, it could have a huge impact on already struggling economic recovery of America, which could mean that credit lenders will likely tighten criteria eligibility for a credit card or loan because of these problems financial statements. Here is a little background on how the government shutdown will affect the economy.
Is the last stop long enough to affect the economy? The last stop of government in 1995-1996 lasted a total of 28 days, which is enough time for investors to raise interest rates on Treasury and have long-term effects on the economy .
How will this affect credit cards? Economic issues can not only make interest rates rise, but can also affect the reward credit cards offer. There is no way to avoid rising interest rates, but if you get a card with a 0% introductory April or great rewards, you can get these benefits now locked. Here are our favorite cards with great rewards and 0% intro APR (no interest) for a maximum of 18 months, which is much to be locked before the economy goes south:
The best card low APR credit: Citi Simplicity card
Since interest rates may be rising, find a card with a low APR would be good in this financial crisis. Citi Simplicity Card is one of our favorite credit cards. Its unique combination of a 18 months 0% introductory APR and no late fees or annual fees make it a compelling value. Unlike other credit cards, Citi Simplicity does not charge late fees, a nice feature for those who sometimes forget to pay on time. It also has a long 18 months 0% introductory purchase and balance transfer in April, the longest introductory period of 0% APR for any map that we found.
Best Cash Back Credit Cards: Cash Rewards BankAmericard
Having a card that offers the best rewards for cash back can help you earn some rewards when browsing of the credit crisis. The BankAmericard Cash Rewards credit card is a great cash back card that allows the holder to save money with a 0% introductory APR for 12 billing cycles on purchases and balance transfers made within first 60 days, then 13.24% - 23.24% variable APR. The cash back rewards are generous, with 3% cash back on gas and 2% cash back on grocery stores for up to $ 1,500 in gas purchases and groceries handsets every quarter and 1% cash back on all other purchases. This card will particularly appeal to existing bank customers in America (or those who want to become American customers Bank) because it offers them a cash bonus of 10% of reward when they redeem their cash back rewards directly into their Bank of America checking or savings account. In addition, holders will win a $ 100 exclusive online bonus after $ 500 in purchases within the first 90 days of card ownership.
The best balance transfer credit card: Slate from Chase
With interest rates potentially rising, it might be a good idea to transfer your balance from your existing credit cards to a card that has a 0% Apr intro, so you can pay the balance without incurring interest charges. Slate from Chase is a great card if you are interested in consolidating your credit card balances higher interest rate on a single, lower interest rate cards. Not only do users benefit from 15 months of launch 0% APR on purchase and balance transfers, but if they transfer their balances to this card in the first 60 days, they should not pay for balance transfer.
The best credit card rewards:
Barclay Arrival more World Elite MasterCard
If you are looking for a quick influx of cash rewards before the credit crisis occurs, this is the best card. First, you get 40,000 points when you spend $ 3,000 in the first 3 months, which is $ 400 the card is pretty much just gave you, and redemption is simple you can just use the $ 400 to pay for any purchase of travel on your credit card statement. In addition, the Barclay Arrival World Elite MasterCard gives more 2x points on every purchase, which is higher than most other travel cards. And beyond, you get another 10% bonus on all items you use to travel, so if you spend 10,000 points on travel, you get 1000 points back. The only drawback is the annual fee of $ 89, but even that is waived for the first year. This card took first prize as the best credit card travel rewards in our travel rewards card analysis, so chances are you'll want to make this the most used in your wallet card, even after you redeem the introductory bonus of $ 400.
Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and has not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated by the sending credit card affiliate program.