Looking for that low interest credit card

Written by G Marwick


If you have been shopping around for a Low Interest Credit Card you will notice thatrepparttar UK market is awash with Credit Card companies offering low rates to entice you to apply for their Cards.

There has never been a better time to consolidate your credit cards and get a far better interest rate. There are many offers out there but they all offer pretty muchrepparttar 135924 same thing. The only thing that varies isrepparttar 135925 APRrepparttar 135926 0% balance transfer period and possibly reward points for usingrepparttar 135927 card.

With all these cards on offer you can be very selective and apply for a card that suits your needs and spending habits.

Looking to consolidate you existing credit cards?

Points to consider:

How long isrepparttar 135928 0% balance transfer period for?

These can usually range between 6 and 9 months. These periods of 0% interest may seem attractive but make sure you know whatrepparttar 135929 APR will revert to afterrepparttar 135930 period comes to an end. Readrepparttar 135931 fine print as some credit card companies will expect you to spend a min amount to secure this low rate. Don’t fall for this as there are many that do not expect you to spend anything.

Do you plan on clearingrepparttar 135932 balance withinrepparttar 135933 0% period?

If you do not plan on clearingrepparttar 135934 balance it may be worthwhile getting a card that has a low balance transfer rate forrepparttar 135935 life ofrepparttar 135936 balance. Some credit cards will set a low interest rate until you pay offrepparttar 135937 balance in full, whether it takes 6 months or 6 years. This way you don’t have to worry about paying a sudden increase in interest rates atrepparttar 135938 end of an introductory period.

Choosing and Using a Credit Card Wisely

Written by Larry Denton


Credit drives our economy. Sure, there are still some cash-and-carry guys around, but most of us rely on credit and particularly credit cards. Shopping around for a credit card can save you money on interest and fees. You will want to find one withrepparttar features that match your particular needs, since not every one hasrepparttar 135873 same financial situation.

The first step in choosing a credit card is determining how you will use it. If you expect to always pay your monthly bill in full--and other features such as frequent flyer miles don't interest you--your best choice may be a card that has no annual fee and offers a longer grace period.

ID you sometimes carry over a balance from month to month, you may be more interested in a card that carries a lower interest rate (stated as an annual percentage rate, or APR).

If you plan to frequently use your card to get cash advances (fromrepparttar 135874 bank or an ATM), you'll want to look for a card that carries a lower APR and lower fees on cash advances. Some cards actually charge a higher APR for cash advances than for purchases.

Another major consideration in choosing a credit card isrepparttar 135875 APR--annual percentage rate--the way of statingrepparttar 135876 interest rate you will pay if you carry over a balance, take out a cash advance, or transfer a balance from another card. The APR statesrepparttar 135877 interest as a yearly rate. A single credit card may have many APRs. For example, your card may have one APR for purchases, another for cash advances, and yet another for balance transfers.

There are also tiered APRs where different rates are applied to different levels ofrepparttar 135878 outstanding balance. For example,, 16% on balances of $1-$500, and 17% on balances over $500.

A penalty APR is another possibility. The APR may increase if you are late in making payments. Your card agreement may say, "If your payment arrives more than ten days late two times within a six month period,repparttar 135879 penalty rate will apply."

Then there isrepparttar 135880 infamous "introductory" APR. A different, and most certainly higher rate will apply afterrepparttar 135881 introductory rate expires. Always find out how muchrepparttar 135882 new rate will be before signing any agreement.

Finally there isrepparttar 135883 delayed APR. A different rate will apply inrepparttar 135884 future. For example, a card may advertise that there is "no interest until next July." Be sure to find out whatrepparttar 135885 APR will be after July.

Still another consideration isrepparttar 135886 grace period--the number of days you have to pay your bill in full without triggering a finance charge. For example,repparttar 135887 credit card company may say that you have "25 days fromrepparttar 135888 statement date, provided you paid your previous balance in full byrepparttar 135889 due date." The statement date is written onrepparttar 135890 bill. The grace period usually applies only to new purchases. Most credit cards do not offer a grace period for cash advances or balance transfers.

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