So what are the benefits of having a low credit card interest rate?
As you’d expect, the main attraction of a low interest rate credit card is… well, the low interest rate. Some low rate cards have APRs of under 7% compared to a standard credit card which could have an APR of 18%.
It’s also worth looking out for extra bells and whistles when you try to decide what card will work for you. Keep an eye open for extras such as no balance transfer fees which means you can move the balance from an existing card to the new one at no cost to you. You might also consider a card with no annual fees (many card issuers will charge you for the privilege of having one of their credit cards). Other cards may tempt you with no cash withdrawal fees or by not charging you to use your card abroad.
Plus, if you regularly shop in once place, you might consider a card associated with that store. You might find some issuers give you extra rewards like vouchers or points if you shop in their stores using their cards.
So there are plenty of options out there, it’s just finding a card to suit your needs. But we can help you with that bit so you can stop trawling around and start comparing deals right here at comparethemarket.com, so we’re pretty sure we can find the right low interest rate credit card for you. Just always remember to pay your bill in full, every month – simples.