Zions Bank offers lowest interest rate in the market
As consumers watch credit card interest rates rise following the after effects of the Credit card Act of 2009, there seems to be good news. Zions Bank has a low rate Visa Platinum card that has been ranked as the top card in the country for the interest rates in the market for customers whit good credit scores. Zions card is beating 216 other cards and being ranked as the winner of “LOW APR” and also being listed as money magazine‘s 2010 Best Credit Card.
Zions Bank’s card which is a Low Rate Visa Platinum card has a rate which is introductory and at 7 % variable APR for new sales and no annual fee it is a great deal indeed. There are also options to customize the first card free of charge with their own photo’s. Clients may also be able to earn over 50 percent cash back for being part of Zions Cash Rewards merchants if found eligible. The rate that customers can avail of is subject to approval and they must have good credit with a minimum household income of at least $35,000.
The recent act passed on Credit Card Accountability and Disclosure in 2009 has been positive for card issuers allowing interest rates to be hiked to make up for losses on the fee on the card. According to Bankrate’s weekly report there is an average credit card rate of 14.39 percent in the U.S. looking at variable rates among 50 of the biggest card issuers in the country. Depending on the type of card Zions Bank’s card rates have stayed more or less stable since the passing of the new regulation and rates are staying between 7 and 12.25%.
Brian MC Caul Bankcard Marketing Manager has been saying that Zion Bank’s credit card model is unique and looks at responsible and more use of credit. He also said that cards offered were prime and there has been no default penalty rate pricing on the cards on offer.
Zions Bank has had some conservative policies with regard to their lending and their clients have a good credit score. As the portfolio of clients is positive with less risk involved there is more competitive pricing available in the market as well. As most of the clientele closes their monthly balances and are not too concerned about the interest rates there are additional options available to them.
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