A host of low interest credit cards is already in the e-marketplace favoring those with a revolving credit – in other words, those who carry a monthly balance. The interest rates on these cards tend to be around 10% while the rates on normal cards could be as high as 16% to 18%. The interest rates offered on these low interest credit cards could be fixed or variable. The fixed interest rate is relatively low in comparison to the variable interest rate. Fixed rate is advisable for those who carry a balance every month. Good credit history is required to get these low interest rate credit cards, which makes it difficult for many potential customers to acquire one.
How Do The Credit Card Companies Make Money?
Low interest rates charged on these cards are compensated in various ways by the credit card companies. Some of it includes, high annual fees, low introductory offer for only a limited period, and high transfer rates.
Searching For the Best Low Interest Credit Cards
The Internet is the best resource to evaluate various low interest rate credit cards. Since the credit card market is cluttered with various options, these low interest credit...
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