Managing your money so that you pay the least possible amount of interest is something that most people will want to do, and this is especially the case when it comes to a credit card. Finding one that can really save a lot of money is based on a very competitive industry that will often have some very good deals on a low interest credit card.
Picking out the best of these that will match your specific requirements is the next task. There are a lot of options available, whether you look for a card that offers an interest free balance transfer for a specific period, but with a transfer fee, or whether you look at the option of a card that offers permanently competitive interest rates on all purchases and balance transfers.
Interest-Free Balance Transfer Card
Among the most popular options for those who are looking for a low interest credit card are the balance transfer deals that are available on some cards. What is offered here is the option to transfer the balance from an existing credit card for which there will be no interest charged for the a specific period of time after the balance transfer. This period can range from a few months up to two years for the best deals, but the better deals will usually only be available to those with higher credit scores.
There are a few drawbacks with this kind of card, which are, that it will usually revert to a fairly high interest rate once the interest free period has expired, and there will also be a charge for transferring the balance itself, which will usually be three per cent of the balance that you are transferring.
Lifetime Balance Transfer Card
Some people may find that the interest-free balance transfer card may be a little limiting, especially if they expect that they won't be able to pay off the balance within the interest free period. So another option that they may want to look at are the low interest credit card products which offer a low rate on a balance transfer throughout the life of that balance.
This can be another appealing option for many, and is often more accessible to those who have credit profiles which do have a few blemishes.
Permanently Low Rate Cards
Another type of low interest credit card is that which will offer a permanently low rate of interest on all balances, whether they are cash withdrawals, balance transfers, or purchases. These cards are more suited to those who don't already have outstanding balances on other credit cards, or for people who are looking for a long-term deal at a low interest rate.
The general rule when it comes to low interest credit card products is that, the better the credit profile of the person applying, then the better interest rate will actually be received.
Finding the best low interest credit card will really depend on what you are looking for, but there are plenty of options on the market, and usually one which will have what you're looking for available.
Picking out the best of these that will match your specific requirements is the next task. There are a lot of options available, whether you look for a card that offers an interest free balance transfer for a specific period, but with a transfer fee, or whether you look at the option of a card that offers permanently competitive interest rates on all purchases and balance transfers.
Interest-Free Balance Transfer Card
Among the most popular options for those who are looking for a low interest credit card are the balance transfer deals that are available on some cards. What is offered here is the option to transfer the balance from an existing credit card for which there will be no interest charged for the a specific period of time after the balance transfer. This period can range from a few months up to two years for the best deals, but the better deals will usually only be available to those with higher credit scores.
There are a few drawbacks with this kind of card, which are, that it will usually revert to a fairly high interest rate once the interest free period has expired, and there will also be a charge for transferring the balance itself, which will usually be three per cent of the balance that you are transferring.
Lifetime Balance Transfer Card
Some people may find that the interest-free balance transfer card may be a little limiting, especially if they expect that they won't be able to pay off the balance within the interest free period. So another option that they may want to look at are the low interest credit card products which offer a low rate on a balance transfer throughout the life of that balance.
This can be another appealing option for many, and is often more accessible to those who have credit profiles which do have a few blemishes.
Permanently Low Rate Cards
Another type of low interest credit card is that which will offer a permanently low rate of interest on all balances, whether they are cash withdrawals, balance transfers, or purchases. These cards are more suited to those who don't already have outstanding balances on other credit cards, or for people who are looking for a long-term deal at a low interest rate.
The general rule when it comes to low interest credit card products is that, the better the credit profile of the person applying, then the better interest rate will actually be received.
Finding the best low interest credit card will really depend on what you are looking for, but there are plenty of options on the market, and usually one which will have what you're looking for available.