30 June 2005
A new study has revealed that low standard rate credit cards are the second most popular type of card amongst many online consumers, with websites experiencing a 25 per cent increase in applications in the last year.
Second only to zero per cent introductory balance transfer deals, it appears the appetite for low standard rate cards has accelerated at an impressive rate.
There are now seven cards offering low flat rates below ten per cent APR, with Co-op Clear recently launching a flat rate of 8.9 per cent APR.
A low flat standard rate card can help those who are not disciplined enough to keep switching and want to keep their debt as low as possible.
Richard Mason, a credit card specialist, said: "It seems there is a clear demand for low standard rate cards and providers are beginning to respond.
"For a long time, Capital One led the way with its 6.9% flat rate card, but now Halifax and Co-op has joined the fold, and I'm sure more providers will follow suit, making this market more competitive as they realise the potential of offering this type of deal."
Which is the right credit card for you? Find out now by comparing cards with uSwitch.com's free and impartial comparison service.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.