Advantages of low interest credit cards


9th December: Low interest credit cards are offered by several financial institutes including credit card companies and banks. Let us see the benefits of using low interest credit cards— 

9th December: Low interest credit cards are offered by several financial institutes including credit card companies and banks. Let us see the benefits of using low interest credit cards—

Low interest rate credit cards are good for shopping and you don’t need to rush to the bank for getting cash to pay for the goods. Also, you don’t need to carry huge cash in your purse.

• Promotional offers—Credit card companies offer low interest credit cards along with several promotions for saving money. Some of these offers include zero-percent interest for customers. Apart from low-interest credit cards, such promotional offers also come from

high-interest rate credit cards. However, unlike high-interest rate credit cards, low interest rate credit cards do not reset to high rates of interest.

• Lower finance charges--Another benefit of using a low interest rate credit card is that you get the advantage of low interest cost resulting in savings for you. This is relevant to those who often carry a balance every month. Such users of credit cards can make savings of several dollars annually by going for a credit card with an interest rate as low as 9.9

percent.

• Consolidation of credit card debts—Low interest rate credit cards are considered indispensable for consolidating your debts concerning credit cards. You can transfer your balances to a low interest rate credit card and work on repayment without bothering over the accumulation of interest rates.

• Ideal for infrequent credit card users-–A low interest rate credit card is best for those who do not make use of a credit card quite often and only use it rarely when they are short of cash in hand.

• Best for regular users of credit card—A low interest rate credit card is ideal even for

those who often use their credit card. You can apply for a low rate credit card and use it for bridging finance to ensure that you have money to pay for your primary credit card. Moreover, by doing so, you can also enjoy free interest of 55 days.

• Less minimum payment—You can look forward to making lower minimum payment if you use a low interest rate credit card. The good thing is that an increase in the interest rate will not have any affect on your minimum payment.