Low Rate Credit Card

So you love to shop? That's great! But you have noticed that it is a real hassle to carry cash around while shopping. One of the best ways to avoid this trouble is issuing for a credit card. You can shop till you drop and not worry about falling short of any funds. After your purchase, all you got to do is swipe the card and the bills are paid electronically. Every month you receive a credit card bill stating the purchases made and the amount you need to pay. In addition to the bills, you have to pay an interest rate to the bank that has issued your credit card in case you cross the grace period. Some credit cards have interest rates and it becomes quite difficult to manage the credit card bills. If you are the kind of person who would love to have the advantages of a credit card but with a low interest rate, opt for a low rate credit card. To find out more details, read ahead..

How Does It Work?

A grace period is given where every credit card holder gets to pay his bills on time. If the grace period is crossed, then he/she has to pay some amount of fixed interest. Normally the rate of interest for credit cards is around 20 to 25%. If you issue for a low rate credit card, then the rate of interest is as low as 10%. A good amount of cash can be saved, but certain benefits that are issued for regular credit cards is not applied here.

Banks That Offer Low Rate Credit Cards

GE Money Australia has great offers in low rate credit cards. There is no interest rate for the first 55 days on any kind of purchases made. They offer free services online for 24 hours. Their annual fee rounds up to A$58.

St. George offers low rate credit card in the form of Gold Low Rate Card with an interest rate of 12.25% p.a. Its features include high credit limits with free overseas travel insurance. Their introductory offer includes 55 days which is free of interest.

Some Benefits

One of the chief benefits of low rate credit card is that you get to save as the interest rate is quite low. This card is very useful for those who use credit cards infrequently. Some credit cards offer 0% introductory period for a month or so. But a word of caution; often the interest rates shoot up without the knowledge of the card holder. It is very easy to apply for a low rate credit card. All you got to do is fill in the application form online from the bank of your choice. Or you can remove a print of the form and submit in person.