With so many credit card deals on the market, consumers can have a hard time deciding on the right deal for them. There are many rate options for new credit card customers. These include cards with a 0% interest rate for a fixed period, low balance transfer rates or introductory rates. However, there are also cards which feature a low standard interest rate.
Who Should Get A Single Rate Credit Card?
A single rate credit card can be a useful option for those who are looking to transfer large sums of debt which they are hoping to pay off. As well as transferring balances from other credit cards, new credit card customers are often able to transfer balances from high interest store cards. Some may even be able to transfer outstanding loans to a lower rate credit card.
Is There A Catch?
Unlike other cards, a single rate credit card has one rate for all transactions. This means there should be no extra charge for cash withdrawals, credit card cheques and purchases. It’s always best to read the fine print to make sure, though.
To get the best from a single rate credit card, try to pay off more than the minimum amount. This will reduce the...