Best Credit Card Rate

May 4th, 2010

Choosing the best rate is just one feature you should compare when you are looking for the best credit card deal.

While the interest rate on your card will determine a portion of your repayment if you are charged interest and can see your balance rising from compounding interest, if you are able to choose a credit card with the features which can help you minimise or even avoid your interest charges, then you’ll have the best credit card rate, on the best credit card.

Best Low Interest Credit Card', 'The Bankwest Lite Mastercard is currently the lowest interest rate card on the Australian Credit Card Market, add to that a good balance transfer rate and reasonable annual fee and you’ve got an excellent low rate credit card’);?>

The Benefits of Finding the Lowest Credit Card Interest Rate

A low interest rate credit card can have a number of benefits and in some cases you can find an interest rate as low as 11% on a low rate card. The best low interest credit card can:

• Stop you paying for purchases over and over and over again. a purchase you make on your credit card may have been an emergency, a necessity or a moment of weakness in the shoe store, but when you pay a high interest rate on your credit card you can be paying as much as 20% interest on that purchase and if you’re not able to repay it right away, then the cost of that purchase will grow and grow very quickly.
• Makes it easier to control your debt if you rollover a balance. Whether you regularly carry a balance on your card each month or just occasionally, you won’t be punished with high interest costs to make that balance unmanageable. Instead, your monthly payment will only have a small portion of interest, so you can concentrate more of your funds to paying off your purchase, not your interest.
• Pay lower fees. A low interest rate credit card will also often have a lower or $0 annual fee and lower transaction costs for making payments, making the card more affordable overall.

Compare the Best Credit Card Rate

While there are a number of benefits to a low interest rate, that doesn’t mean it is necessarily the best credit card rate for you. Instead, compare other interest rates and features to find out how to make almost any rate, the best:

• With interest free periods you can pay 0%. Avoiding an interest rate all together can often be better than paying a low rate, and a credit card rate on a card with a long interest free period allows you to make interest free purchases and when you repay your balance before the end of your interest free period you can avoid any interest charges.
• Higher interest cards can have additional features. These features can include free insurance or discounts at partnered businesses and retailers, and if you travel often, or you would naturally shop at those partnered stores then you can benefit from these features and the best credit card rate becomes the one on the card best to suit your lifestyle.
• Higher interest cards can have rewarding points. Credit card rewards programs are not only offered for flights and travel bonuses. You can be rewarded by your credit card with cash back, vouchers, merchandise and discounts, but these rewards are not typically found on low rate credit cards. Therefore, the best credit card rate in this case is one featured on the card which offers the most relevant rewards for you, and which has the longest interest free period so you can avoid interest charges and ensure real value when you redeem your rewards points.

The best credit card interest rate can be the lowest, but when you choose a low rate card, you can be giving up features like interest free days and rewards. Therefore, consider how you will be using your card and whether you want to make your money work harder for you by qualifying for rewards, or whether the best credit card interest rate is one which is manageable from the start. To help you choose from the best credit card interest rates, view our comparison tables. You’ll also be able to follow a direct secure link to an online application form and make the best of your rate sooner.

Finding the best credit card interest rate can help you control your bad debt and manage it for good. When comparing the best credit card interest rates, also make sure to compare the other features of the card, to ensure they suit your needs too.

Editors Choice: Featured Credit Card Deals

	Interest Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Cash Advance Rate (p.a.)