Finding a low interest on a credit card is one of the major factors that are looked into when choosing a credit card. The credit card is a great financial tool and others you the financial freedom that would not be otherwise possible in the modern time and date. There are two kinds of low interest is present on a credit card. If you have a very good credit history then you may qualify for a permanent low interest on your credit card whereas in other instances certain credit card companies offer a promotional low rate of interest. The promotional rate of interest is usually extremely lower than the current prevalent market rate. It is not, but it’s possible to find a credit card with a 0% interest rate for a limited time during the initial few months of the credit card subscription.
You can start by checking an online on the Internet for low interest rate credit cards. You can search for a phrase “balance transfer” cards or “introductory rate credit cards” to find offers on credit cards that are offering a low introductory rate. It will be obvious that a very low introductory interest rate on a credit card is often used by consumers to transfer an existing balance from a credit card to another. The advantage of this is that if you can pay off your balance within the introductory rate period you can save yourself a lot of money on interest.
A low interest credit card has the advantage of saving a consumer lot of money if he is in the habit of revolving is balance every month by paying his balance in installments.
While conventionally credit cards are provided to the consumer free of cost with no processing charges different companies operate under different guidelines. If there is a special card that offers a special low rate of interest than they might be a processing or adverse fee associated with it.
A credit card company usually asks for of processing fee in the case of a balance transfer. This fee typically ranges from one to 5% of the entire balance being transferred.