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

---

The Truth About Credit

What you might not know about credit.Some people don't know about a loop hole in the credit reporting system.You probably know that a loan in your name... Read More

Trying to Land a Job? Poor Credit Scores May Hurt Your Chances

Many employers are now looking at an applicant's credit report for hiring purposes. During an interview process a potential employer may request your written consent to access... Read More

Identity Theft - How to Protect Yourself

"Like the tan? I got tons of sun on that Caribbean cruise. First class tickets to Florida and back! Nope, not an airline upgrade. 5-star service all... Read More

Check Your Credit Before Shopping For That Home Loan

Review Your Credit Score.Nearly every bank, credit union, and mortgage lender relies on a three digit score provided by one of the three major credit bureaus to... Read More

5 Ways To Raise Credit Score

It's not as hard as you think to raise credit score. It's a well known fact that lenders will give people with higher credit scores lower interest... Read More

Beginners Guide to Credit

I remember back when I was 18 and completely oblivious to the concept of credit. It seems like eons ago! If only I had known then what... Read More

Saving Money with Credit Cards

Having a credit card is a wonderful convenience for those times when you don't have immediate access to your cash. It can allow you to purchase something... Read More

The Three Largest Factors In Your Interest Rate

There are three major factors that affect how much you pay for a loan. Understanding these factors can save you time, money and frustration.1. The Federal Reserve... Read More

Fun with Credit Cards

For those of us who know how to use them properly, credit cards can actually be quite fun and lucrative. To those who do not know how... Read More

The Hazards Of Your First Credit Card

You probably don't need me to tell you credit cards are easy to get a hold of; at least, that is so in the US and UK.... Read More

Finding and Applying for the Right Credit Card Offer Online

Anywhere you go online nowadays, you will see a multitude of ads for credit cards. Some offer low interest rate for an introductory period, or bonus frequent... Read More

Credit Counseling: Could it Work for Me?

In the face of financial hardship, many seeking a responsible solution turn to credit counseling. Credit counseling is, all too often, the last stop before bankruptcy. That... Read More

All You Wanted to Know of Bad Credit

Martin Henderson is in a fix these days. Because of his failure to repay a loan he had taken a few years back, he has been adjudged... Read More

Do You Want to Get a New Credit Card at a Great Rate?

1) Do your homework. Applying for and getting approved for a credit card is nothing more than legwork. Credit card contracts can sometimes contain onerous terms that... Read More

7 Consumer Credit Laws You Should Know if You are Trying to Repair Your Credit

There are seven consumer credit laws you should be aware when dealing with your credit.1. The Truth in Lending ActThe customer had to be told the true... Read More

Credit Repair Scam - How To Avoid Being A Statistic?

A good credit history is critically important for the consumer. A bad credit will prevent you from getting a business loan, owning a home, or even a... Read More

Grants, Loans, Free Credit Cards And Credit Repair: The Whole Truth And Nothing But The Truth

You got creditors calling you everyday. You could lose the car or house. Your teetering on the edge financial ruin - then you see an ad that... Read More

Rebuild & Keep Good Credit Ratings by Understanding Your Credit Cards

Secured Credit Card is similar to a prepaid credit card since the funds you are using are actually yours and not the issuer of the credit card.... Read More

Bad Debt Recovery

Bad Debt IdentificationIdentifying bad debt is not as easy as it sounds. But the earlier it is done, the better are chances of recovering it. Here are... Read More

Credit Card Incentives

Credit card companies want your business. After all, lending money to people is profitable. Besides the interest fees that you'll be charged, the credit card company also... Read More

Credit cards

If gold medals were awarded for marketing consistency, the credit card industry would be the Sarah Hughes of the business world. Major players Visa and MasterCard, who... Read More

Lower Your Credit Card Interest Rate Now!

With today's credit card companies, there are many opportunities to get your cards rate of 21% or more reduced. The higher the amount of interest your card... Read More

Credit Cards And Loans - So Many Options - So Little Time

Credit Cards and Loans sounds like just two things, but in actuality, it is dozens of things. Due to a combination of user preferences, lifestyles, and marketing... Read More

How a Credit Card Can Be Your Friend

We have all heard countless stories of people over their heads with credit card debt-maxing out every card they own, then only being able to afford the... Read More

Top 5 Reasons To Check Your Credit Report Regularly

#1 Make sure mistakes aren't hurting your credit.Reviewing your credit report can help you avoid costly errors. In one recent study, more than 50% of the credit... Read More

My Credit Card Application Was Rejected! Now What?!?

No doubt, you've probably gotten literally hundreds of credit card applications in the mail and online, and each and every one of them has said that you've... Read More