Looking for that Low interest Credit Card?

If you have been shopping around for a Low Interest Credit Card you will notice that the 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 much the same thing. The only thing that varies is the APR the 0% balance transfer period and possibly reward points for using the 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 is the 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 what the APR will revert to after the period comes to an end. Read the 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 clearing the balance within the 0% period?

If you do not plan on clearing the balance it may be worthwhile getting a card that has a low balance transfer rate for the life of the balance. Some credit cards will set a low interest rate until you pay off the 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 at the end of an introductory period.

Once you have established how to manage your credit card debt you will be in a much better position to choose the right credit card. The UK is in the grip of a huge debt epidemic and it's important to ensure that you are paying the least amount of interest on your debt. Also ensure that you are making your monthly payments. If you can afford it try and pay more than the minimum required every month as the longer it takes to pay off your card the more the credit card companies will make off you through interest charges.

Many people will transfer their credit card balances every time the 0% introductory period runs out. A term used for this is a "Card Tart" and as far as I know it's not illegal. The amount of times you apply for a credit card in a 12 month period may have an adverse effect on your credit rating so beware you are not damaging a perfectly good credit history by continuously applying for a 0% credit card.

Grant Marwick is a freelance writer and owner of http://www.only-credit-cards.co.uk where you will find advice and more articles on Low interest and 0% Credit Cards

---

Why Credit Cards are a Bad Idea

Credit cards are just so convenient, aren't they? There's no... Read More

Trade Credit: How to Determine if You Should Offer Net-30 Terms to Your Customers

What is trade credit?One of the major differences between consumer... Read More

Credit Card Traps: How To Spot Them On The Spot!

They arrive in your mail - a conspicuous looking mail... Read More

How To Repair Your Credit Report

A credit report is run on a buyer when he... Read More

Credit Repair Scam - How To Avoid Being A Statistic?

A good credit history is critically important for the consumer.... Read More

How To Avoid Becoming A Victim of Identity Theft

With identity theft statistics currently at an all time high,... Read More

What Are The Most Common Credit Card Mistakes?

Now in a world with so many easy to get... Read More

Credit Traps Snag Consumers

Nearly 20 years ago I worked for a small consumer... Read More

Give Yourself Credit

The Beginning of the Credit Card EraIn 1951, Diners Club... Read More

10 Tips To Prevent Credit Card Fraud

Imagine opening your credit card statement one morning and discovering... Read More

Rebuild Your Credit the Right Way the First Time

If you are one of the millions of people out... Read More

Discover the Parts of a Credit Report and What They Mean

So you ordered a copy of your credit report to... Read More

Different Types of Credit Cards and Features - Part 1

Just as there are too many credit card companies to... Read More

Credit Report ? How to Improve Your Credit Score

One of the great mysteries of life is how the... Read More

Repair Your Credit - The Right Way!

How to Repair a Bad Credit Rating?The Right Way!If you... Read More

How To Survive In A Plastic World, Qualifying For Credit Card

Let's face it, having credit is no longer a choice.... Read More

Looking for that Low interest Credit Card?

If you have been shopping around for a Low Interest... Read More

How You Can Avoid Becoming A Victim Of Identity Theft

To reduce or minimize the risk of becoming a victim... Read More

Finding Reputable Credit Card Companies

You're interested in getting the best credit cards for your... Read More

Lower Your Credit Card Interest Rate Now!

With today's credit card companies, there are many opportunities to... Read More

How to Save Money on Your Credit Cards

Credit card companies make their money on the 85% of... Read More

10 Ways To Protect Your Financial Identity Being Used For Someone Else?s Shopping Spree

Someone impersonating you could be spending your hard-earned money.Impossible! Not... Read More

Five Credit Card Billing Problems and How to Fix Them

It goes without saying that your first and best defense... Read More

Fair Isaac Corporation Credit or FICO Score

As I am not from the US, I had no... Read More

What Is A FICO Score?

A credit score is most commonly known as a FICO... Read More