• What are low interest rate credit cards?

Low interest rate credit cards provide consumers with a sensible method of making purchases by reducing the amount of potential debt that could be built up through high interest charges.

• Is this the right credit card for me?

There are a range of credit cards available to suit a number of financial requirements. Low rate credit cards are more practical for those that wish to carry a balance that is not always paid off in full each month. This way you will reduce the amount of interest you could be paying.

If you don't use your credit card on a regular basis or pay off your outstanding balance in full at the end of each month, you will not benefit from a low rate credit card and would be better to opt for a card that offers a lower annual fee or some kind of reward for your spending.

• What should I be aware of?
  

Unfortunately, these low interest rates do come at a cost, generally in the form of higher annual fees, as providers need to cover some of the cost of what they could potentially make from higher interest rate credit cards.

Before deciding to switch to a low rate credit card it is important to calculate the amount of interest you pay per year, and compare this against the new rate, whilst also taking the annual fee into consideration. If you find you could be saving money, come and have a look at our great range of low interest credit cards.

See our Best Low Rate Credit Cards above