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

---

10 Ways of Reducing the Risk of Identity Theft

1- Check your credit report regularly2- Secure personal information in... Read More

All About Balance Transfers

What is a balance transfer?A balance transfer can be explained... Read More

Credit Report ? Watch Out for Parking Tickets

The economic downturn of the last five years has affected... Read More

Which Business Credit Cards with Reward are the Best?

Thinking of applying for a credit card with a reward... Read More

Practical Suggestions for Protecting Yourself From Identity Theft

It's no surprise that thousands of Americans are victimized by... Read More

Avoiding College Credit Card Traps

Congratulations college freshman! You're about to embark on one of... Read More

Credit Repair Companies and Credit Counseling

Let's be crystal clear, right up front. Paying someone to... Read More

Commercial Collections: Business Finance Booster Shot

Commercial collections: fixture of the new B2B cultureIf you're in... Read More

Credit Verus Debt

Secured and unsecured debt - what's the difference?It's easy to... Read More

7 Compelling Reasons Why A Prepaid Debit Card May Be Just The Financial Tool You Need

Prepaid debit cards are great financial tools and may be... Read More

Is Plastic Making You Happier?

If you're like most people, you probably own at least... Read More

A Summary of the Fair Credit Reporting Act

This summary of the Fair Credit Reporting Act will explain... Read More

What is a Bad Credit History?

A bad credit history can sometimes seem like a curse...... Read More

Credit Help For Renters And Others On The Horizon

Sue is a homeowner and pays her mortgage and other... Read More

The Truth About Credit

What you might not know about credit.Some people don't know... Read More

Repairing Your Credit Score and Clearing Derogatory Marks on Your Credit Report

Raising your credit score can be a fairly simple and... Read More

Credit Cards and How To Choose Them:

It may seem like a simple question but its important... Read More

Good Credit -- Essential for the Prospective Home Buyer

Credit is a funny thing. It can be a useful... Read More

Credit Repair: How To Deal With Your Creditors

If you are in danger of credit problems because you... Read More

Start Building Credit Fast!

There are a couple of reasons for this. You can... Read More

Choosing The Best Credit Card To Apply For

Always shop around to get the best deal when choosing... Read More

Credit Counseling Basics

Credit counseling is an option you might want to consider... Read More

The Top 5 Secrets to Managing Your Credit Cards?So They Won?t Manage You

You've probably never heard of Frank X. McNamara, but he... Read More

Credit Reports: Find out why you have been refused Credit.

You may already have 2 or more credit cards in... Read More

Avoiding ID Theft and Credit Fraud

Article excerpted from the new book, "How to Do Space... Read More

10 Step Credit Repair Guide

The process of clearing credit can be laborious and frustrating,... Read More

Credit Card Disclosure Table ? Do You Understand It All?

In addition to the APR (annual percentage rate) and the... Read More

What is a Credit Card?

A credit card allows you to buy things even though... Read More

Why Americans Find Predatory Lending Offensive

"Menis - the author translates as "indignant rage" - It... Read More

14 Common Credit Mistakes

Establishing credit and wisely managing your credit becomes easier when... Read More

Online, Phone, U.S. Mail or In-Person: Where is Your Credit Card and Personal Identify Safest?

Identity theft is the fastest growing crime according to the... Read More

What Are the Most Common Ways to Commit Identity Theft or Fraud?

It's the number one source of consumer complaints at the... Read More

How Does a Creditor Determine Whether to Grant You Credit?

Credit 101How does a creditor determine whether to grant you... Read More