About Low APR cards
If you're looking for a long-term low rate deal, a low APR credit card could be right for you.
Low APR cards can sometimes represent a better deal than credit cards offering 0% deals on purchases and balance transfers, as the cheap rate is guaranteed until you've repaid the debt in full.
The cards below are ordered by interest rate (APR).
Low APR credit cards vs. 0% interest deals
While cards offering long 0% interest deals on balance transfers and purchases can seem attractive at first, they’re not always best for the long-term.
When initial offer periods end, most 0% credit card interest rates switch back to a standard rate of between 15% and 20% APR.
This means you might be better off considering a low APR credit card from day one, especially if you think you won’t be able to pay off your balance within the introductory period.
What are the advantages of a low APR credit card?
One of the biggest advantages of a low APR credit card is that you can stick with the same card for longer and still get a good deal, rather than having to regularly switch to take advantage of new offers.
Sticking with one low APR credit card also means you avoid paying more than one balance transfer fees - the added expense of these fees could cancel out the benefits of switching. Work out if you could save more in the long-term with a low rate APR credit card.
Switching credit card often could also have a negative impact on your credit report, making it harder to get certain cards in the future.
Is a low APR credit card right for me?
Low APR credit cards are useful for people who usually pay off their credit card bill in full each month, but who may carry a balance over occasionally and don't want to pay over the odds in interest if they do.
0% balance transfer credit cards are good for consolidating your debts, or if you have a big balance to pay off. However, when the interest free period is up you’ll start paying the standard rate unless you switch again, meaning you might end up paying another balance transfer fee.
You generally need to have a good credit rating to be eligible for some low APR credit cards - check your credit report before applying.