Low APR credit cards


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Compare Low APR credit cards

Used responsibly, a credit card can be a great way of spreading the payment for your purchases. What’s more, if your bill is paid off in full and on time each month, you won’t incur any interest charges at all. However, what if you can’t afford to do that, but at the same time you don’t want to rack up your interest charges? That’s where low APR cards might come in. Read on to find out more.

Frequently thought questions

We know (because we compare them) that there are a huge number of different credit cards on the market. So many in fact that it can be hard to see the wood for the trees – let alone work out which one is best. We’re sure you’ve got a few questions in mind, that’s why we created this page to answer them for you.

What’s APR?

It’s a legal requirement for all credit card lenders to quote the card’s “Annual Percentage Rate”. This is the percentage charge you’ll pay each year on any debt built up on the card. It’s quoted to enable you to compare cards so that you can see which one will be cheaper to borrow on. As well as interest charges, the APR also takes into account any other charges you’ll have to pay such as annual fees – so you can be clear about what you’ll be paying from the start.

Will you always get the APR that’s advertised?

You could do, but not always, you should be aware that advertised rates are what are known as representative rates. This is basically an example of what you could get based on certain criteria such as your credit score, how much you want to borrow and for how long.

Not everyone will get the APR that’s shown but a minimum of 51% of successful applicant will be offered the advertised rate. You won’t know what your personal APR will be until you’ve applied for your card.

Remember that an application will show up on your credit score, so it’s a good idea to avoid applying unless you think you’ll be accepted.

Can I get a card with 0% APR?

There are some cards that offer 0% APR for an introductory period. These cards are specifically designed to offer an introductory period where no interest is payable either on balance transfers, new purchases, or both. After this period, the cards will revert to the lenders standard rate, this can vary by card and by provider.

What about cards that offer a longer term low APR?

We recognise that some people want to look a little bit longer term. They don’t want introductory periods, but rather a card that carries a low APR into the future. The good news is, that these cards do exist. Some low rate cards are available which could help you out if you can’t get a good introductory offer.

Is a low APR card right for you?

It all depends on your personal circumstances as well as what you want from your credit card. While some people want to transfer existing balances cheaply, others want reward points from their favourite supermarkets. You might want a period of interest free purchases that’s attractive, while for someone else it’s all about collecting air miles. If you’re someone that wants a relatively low rate of interest on a card that you can use every day, a low APR card could be just the ticket.

How do you find such a card?

Think a low APR card might be for you? Great. Why not find out what cards are available, right now right here. Comparing credit cards of all types with comparethemarket.com is simple. Try it today to see just how simple. All you have to do is follow this link here.

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