 Free Online Articles Directory |
|||||||
Home Page  Finance Single Rate Credit Cards: A Guide |
|||||||
 |
Single Rate Credit Cards: A Guide With so many credit card deals on the market, consumers can have a hard time deciding on the right deal for them. There are many rate options for new credit card customers. These include cards with a 0% interest rate for a fixed period, low balance transfer rates or introductory rates. However, there are also cards which feature a low standard interest rate. Who Should Get A Single Rate Credit Card? A single rate credit card can be a useful option for those who are looking to transfer large sums of debt which they are hoping to pay off. As well as transferring balances from other credit cards, new credit card customers are often able to transfer balances from high interest store cards. Some may even be able to transfer outstanding loans to a lower rate credit card. Is There A Catch? Unlike other cards, a single rate credit card has one rate for all transactions. This means there should be no extra charge for cash withdrawals, credit card cheques and purchases. It's always best to read the fine print to make sure, though. To get the best from a single rate credit card, try to pay off more than the minimum amount. This will reduce the amount owed as well as the amount to be paid each month. What About Introductory Rates? The whole point of a single rate credit card is that it offers one rate for all transactions. Most credit cards with a low standard rate offer that rate only, with no introductory low rate. Those that do offer a low rate for a fixed period often charge for the balance transfer. The charge in this case is usually 2% of the amount transferred. This can soon add up when people are transferring large balances. What Kind Of Interest Might I Have To Pay? Credit card interest rates vary widely. Aside from the 0% preferential rates and the cards within the 20%+ bracket, there are several cards with rates between 8.9% and 17.9%. It's best to look at the other advantages a particular card offers before making a final decision. Do Single Rate Credit Cards Offer Rewards? Like other credit cards, some single rate credit cards offer reward schemes. Some cards give a cash back reward of a percentage of spending over certain thresholds. For example, consumers who spend under £3,000 a year might get a cash back reward of 0.5% of the amount spent. People who spend over that amount might get a cash back reward of 1% of the amount spent. Other possible rewards are Nectar points; air miles or other travel incentives; points which can be exchanged for vouchers, travel or cash; and travel insurance. There are also several credit cards that contribute a fixed proportion of your spending to certain charities. The card issuers may also offer a donation to these charities as an incentive for opening an account with them.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Tags: Money, Interest, Cash, Credit, Cards, Balance, Earn, Transfer, Zero, Offer, Introductory Article Source: http://www.articlesbase.com/finance-articles/single-rate-credit-cards-a-guide-39770.html About the Author:
Joe Kenny writes for Credit Card Guide, offering the latest information on 0% credit cards in the UK, visit them today us to apply for a credit card balance transfers and start clearing credit card debt today.
Related ArticlesHow Credit Card Jumping Affects Your Credit Rating Make Money With Credit Cards A History and Background of Credit Cards Take Advantage of A Balance Transfer Credit Card How Your Credit Card Interest Charge is Determined How to Eliminate Credit Card Debt How To Get Full Advantage Of Your Credit Card Credit Card Balance Transfers - 0% Introductory Offers Got a Question? Ask.Ask the community a question about this article:Frequently Asked Questions Power,have we met? Husband wins lottery and doesn't tell wife! How do I add a blog to my facebook page? What's the best search engine ? Web Mashups Stock exchange Q&A Powered by:
 Latest Finance ArticlesShopping For Auto Insurance Taking 100% Responsibility - the Prerequisite for Creating Money & Marriage Success Retirement Income Investing and Your Portfolio Buy to Let Investors Get a Boost How to Buy a Repossessed Property for Below Market Value Brits Should Ensure They Have the Cheapest Energy Supplier How to Analyze Commercial Properties Is There Really Such a Thing as Free Student Credit Cards? More from Joseph KennyWhat Type of Loan Do You Need? Choosing The Right Life Insurance For You Be Prepared When Applying For A Mortgage Choosing The Right Credit Card Deal Dwindling Consumer Confidence Is Not Helping the Housing Market Choosing Between A Second Mortgage And A Home Equity Loan Defining Credit Card Finance Charges Eliminate Debts For A Better Personal Life |
|
|||||
|
Article Categories
|
|||||||
 Sign up for our email newsletterReceive updates, enter your email below
Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (3.28, 16) |
|||||||
| Posted: 06-07-2006 | Comments: 
