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Low Rate Credit Cards
If you are getting fed up with switching between 0% offers, why not consider a Low Rate Credit Card? There are currently several different types of low interest rate credit cards on the market so it is worth looking around for the best one to suit your needs and circumstances. Read More...>
| Product Name | Balance Transfer Intro |
Purchases Intro |
Representative APR (variable) |
Rewards |
|---|---|---|---|---|
-
Sainsburys Nectar Low Rate
-
n/a
-
n/a
-
7.8%
APR
-
Nectar Points
- Collect 10 Nectar points per £1 spent on Sainsbury’s shopping for the first 3 months
- 1 Nectar point for every £5 spent on your card elsewhere
- No annual fee
Representative Example: 7.8% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 7.84% p.a. (variable)
-
Sainsbury's Cashback Low Rate
-
n/a
-
n/a
-
7.8%
APR
-
Cashback
- 5% Cashback on Sainsbury's shopping for the first 3 mths from account opening (capped at £50 per month)
- £5 cashback each month when you spend at least £250 per month on Sainsbury's shopping and at least £250 per month elsewhere
- No Annual Fee
Representative Example: 7.8% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 7.84% p.a. (variable)
-
Barclaycard Platinum Simplicity
-
n/a
-
n/a
-
7.9%
APR
-
Barclaycard Unwind
- 7.9% p.a variable on all purchases and balance transfers
- Identity Protection Service - advice about protecting yourself from identity theft
- Good credit rating required
Representative Example: 7.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 7.9% p.a. (variable)
-
NatWest Visa Low Rate
-
2.9%
12 mths
0.00% fee
-
0%
6 mths
-
9.9%
APR
-
No Rewards
- No balance transfer fee
- Instant approval available for online applications
- Excellent credit rating required
Representative Example: 9.9% APR (variable) based on assumed Credit Limit of £1,200*. Standard interest rate for purchases: 9.95% p.a. (variable).
*Your credit limit may vary depending upon your circumstances
-
RBS Visa Low Rate
-
2.9%
12 mths
0.00% fee
-
0%
6 mths
-
9.9%
APR
-
No Rewards
- No balance transfer fee
- Instant approval available for online applications
- Excellent credit rating required
Representative Example: 9.9% APR (variable) based on assumed Credit Limit of £1,200*. Standard interest rate for purchases: 9.95% p.a. (variable).
*Your credit limit may vary depending upon your circumstances
-
Lloyds TSB Advance
-
4.9%
12 mths
3.00% fee
-
0%
6 mths
-
11.9%
APR
-
No Rewards
- Secure internet shopping
- Manage your account online
- Good credit rating required
Representative Example: 11.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 11.95% p.a. (variable)
-
Saga Platinum
-
0%
9 mths
3.00% fee
-
0%
9 mths
-
11.9%
APR
-
Discounts on Saga and other products
- 0% foreign currency fees for transactions worldwide
- Manage your account online 24/7
- You must be over 50 years old to hold a Saga Credit Card
Representative Example: 11.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 11.3% p.a. (variable)
-
MBNA Everyday
-
0%
18 mths
1.99% fee
-
0%
8 mths
-
12.9%
APR
-
No Rewards
- Manage your account securely online 24/7
- Contactless payment for purchases of £20 and under
- 0% on money transfers for 18 months (4% fee)
Representative Example: 12.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 12.9% p.a. (variable)
Low Interest Credit Cards
There are two main types of low rate credit cards: cards that offer low rates for a fixed period of time on balance transfers and/or purchases, and cards that offer low typical APRs on the cards with no time limit.
The cards that offer low rates on balance transfers and/or purchases will fall under one of two subcategories: where the low rate is for the life of the balance transfer, i.e. until it is paid off in full, or where the low rate is until a set date. The typical APRs on these types of low rate cards will still be around 16-17% and some still offer 0% interest deals on purchases.
Additionally, this category of card does not generally charge a balance transfer admin fee because, instead of being given a 0% deal which includes a transfer fee, the user is paying interest on their balance from the time the account is opened, albeit at a low rate.
Some low rate credit cards will come with a fixed APR. This should bring reassurance in these times of economic uncertainty because you will know exactly how much interest you will be paying now and in the future.
The introduction of low rate credit cards will likely be welcome news for consumers looking to borrow small sums of money for a short period of time - in effect this type of credit card could be viewed as another way of taking out a cheap loan. Indeed, the interest rates offered by low rate credit cards will likely be better than those offered on loans if you are only looking to borrow smaller sums of money.
What's more, a low rate credit card will allow you to manage your cheap lending over a considerable time period leaving you in control of your debt repayments, safe in the knowledge that you can plan to pay off your debts over a longer period without it costing you a small fortune.
Cards with a low typical APR for as long as you have the credit card do not generally come with any 0% offers on balance transfers and purchases. To make up for this, these cards usually do not charge a balance transfer admin fee of around 2.5-3% when a balance is transferred over from another card.
Top Tips for Low Rate Credit Cards
- Consider whether a low rate credit card is right for you. If you do not need to transfer a balance from another card, you may want to consider getting a credit card with a long 0% on purchases offer.
- Low rate credit cards are great for people who are fed up of moving balances from one card charging a standard typical APR of around 16-17% to another card offering a 0% balance transfer deal.
- If you don’t know how much you set to save with a low interest rate credit card, why not use our balance transfer calculator
Browse credit cards by Issuer
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
