subject: Low interest or no interest credit cards [print this page] Low interest or no interest credit cards Low interest or no interest credit cards
People choose credit cards according to their requirement. Several types of cards are available in the market to satisfy specific needs of customers. Each type of card has advantages as well as disadvantages, it is important to study all the points as well terms of various credit cards. Websites provide all the tools required to make credit card comparison to make informed decision of selecting a particular card. Persons who want to clear existing debt or who wants to pay reasonable rate of interest would use low interest or no interest cards. Users of Credit Card Compare various options to select the card with lowest percentage of interest.
Most of the no interest credit cards do not charge any interest for a limited period of time. After the initial period of offer is over the regular APR is charged for the balance due. The interest is between ten and eighteen percent depending the credit card chosen. Unless the offer period is utilized to clear the balance it is not going to be beneficial. If a late payment is made during the promotional period the interest rate would be high and the no interest offer would be terminated immediately.
At the initial low interest or no interest period the majority of the payment amount is utilized to clear the balance and small amount is utilized for interest. If a balance transfer with no interest is opted the interest saved could be more. That is, the interest rate of the old card should be high and the new no interest card would provide high savings by not charging interest.
