Credit Card Expert Compare UK Credit Cards

Compare Credit Card Rates Online

Comparing rates online can sometimes be difficult as there are so many factors determining the value of a credit card and its interest rate. Interest rates can vary anywhere from 6% APR up to 40% APR while most department stores average out at around 20% APR for avid shoppers. Often when new customers apply for their first credit card they receive introductory offers to entice them into doing business with one particular company, a sweetener if you like, while customers looking for unsecured credit can expect to find rates averaging 10-15% APR.

Introductory Credit Card Rates

Introductory credit card rates can sometimes be offered at zero per cent or a much lower fixed rate than the average. Zero per cent interest rates however may only apply to balance transfers or new purchases, if you’re tempted by this type of offer you need to evaluate the interest once the introductory period is finished. Interest rates alone don’t always determine a good credit card, sometimes cards with a higher rate allow clients to receive frequent flier miles for instance or give cash back on purchases, so occasionally higher interest rates can benefit some people.

Finding The Right Credit Card Rates

When searching for a credit card online take your time and do your homework, credit cards are the modern way of shopping, paying utility bills, buying clothes via the internet, paying for holidays and meals in restaurants, almost everything. Therefore finding the right credit card rates if you’re going to use the card as a means of purchasing goods regularly, the less interest you pay back, the better off you’ll be. If your credit rating is good you’ll more than likely get a good credit card rate from a reputable company that advertises online.

Prudent Credit Card Rates

If you manage to get a very low rate of interest from a credit card company this usually means the credit is backed by equity, in other words your home. With this in mind don’t overspend on your credit card, keep the repayments on schedule so you don’t put your property in jeopardy. Even if you don’t have a good credit card rating many people can still get cards that lend at around a 20% rate, it’s not prudent to accept a card that charges much more than that, it’s simply too much to pay back.

Low Interest Credit Card Rates

Consumers should be aware that not all low interest rates mean they are getting a better credit card. You must check for hidden fees, there can be so many of them for instance you can be penalised for not using the card enough, fees for overuse, charges for withdrawing cash and if you are late with your payments, expect to receive additional fees too. Many credit card companies also add extortionate charges if you exceed your credit card limit, always read the small print of the terms and conditions before signing on the dotted line.