No Interest Credit Cards
The best credit cards for interest rates are low interest credit cards. These cards have a low annual percentage rate. In order to qualify for these types of cards you will need to have a very good credit score. These cards are perfect for those that do keep a balance on their credit card. You will save a lot of money when using a low interest car compared to other credit cards.
All of the major credit card providers will offer low interest cards. These tend to be linked to rewards programs which offer additional incentives. To find the lowest interest rate possible you should look into comparison websites that show you the different credit card options side by side. This way you can compare the rates, introductory periods and more.
The best low interest cards are those that offer an introductory rate of 0% interest for the first year. Sometimes the introductory period will depend on your credit history while others will be fixed. It is important to completely understand how and when the interest rate changes after this introductory period. Otherwise you may be in for a nasty shock.
Many individuals try to get rid of debt using low interest balance transfers on low interest cards. However this is a scam. The low interest rate will only last for a short time and then the interest rate will increase. Many people will then do another balance transfer. This many transfers and new cards will adversely affect your credit score. This is not the way to get rid of credit card debt.
You may even be able to lower the interest rates on your current credit cards. If you have never missed a payment and have been with the company for along time then you should call up the credit card company to see about getting your interest lowered you the lowest available. Make sure you stress your past history as most companies will not want to do this, they make money off the interest. If they say no then they are required to provide proof of why they have denied this request.
Some of the best cards are those that have an introductory period of 0% interest for up to a year. Other cards will offer this but only for a few months. There are other cards that do not have this introductory period but will provide a low fixed interest rate. Make sure you understand the changes of the interest rate for each card. Many people get a nasty shock when the introductory period is over.
Also be wary of the low interest balance transfer. If you make too many balance transfers and keep applying for new cards then this can negatively affect your credit.
Need a no interest credit card, then go to the Canadian banking guide to find more.