 Hello everyone, this is final shot author Ahmed Dunn of Adon Journal. Today I'll talk about the new American Express low interest rate credit card. American Express, or AMEX, is known for its upscale credit cards that usually target customers with heavy spending. The annual fee for some of these cards can skyrocket to $700 or even $900. However, this time, AMEX seems to be targeting traditional customers who carry a balance with its new low-risk American Express essential credit card. While you'll find most credit cards charge 20 to 30 percent interest, the American Express essential credit card charges only 8.99 percent interest with no annual fee. This low rate is not a promotional rate and is here to stay unless market conditions change. A few other credit cards in Canada such as BMO Preferred Red, Scotia Bank Valley Visa, CIBC Select Visa and RBC Visa Classic Low Rate also provide low rate cards where the interest rate can run 12 to 17 percent. But they don't come close to the new American Express offer. Another card or mentioning is the MBNA True Line credit card. This is no annual fee credit card that charges interest rate based on your credit score and it can range from 5.99 to 14.99 percent. What I like about this card is that on the MBNA website it will tell you what your interest rate will be by doing a soft credit check that does not affect your credit score even before you start the application process. As more players are offering more low rate credit cards, consumers are the winner from the competition and they're definitely will be more credit card companies entering the arena of low rate cards following the American Express essential credit card in the future. That's all for today. Thank you.