Standard interest rates on credit cards

Standard APR's

Company	Package Name	APR	Balance Transfer Rate & Period	Balance Transfer Notes	Introductory Purchases Rate & Period	Notes
	Virgin Credit Card	16.8% APR Representative (variable)	0% for 20 months	2.99% transfer fee	0% for 3 months	Virgin Discounts
Representative Example: 16.8% p.a. (variable) on card purchases. This is equivalent to 16.8% APR representative (variable) based on a credit limit of £1200. Virgin Money, Stansfield House, Chester Business Park, Chester CH4 9QQ
	Barclaycard Platinum	17.5% APR Representative (variable)	0% for 22 months	3.2% transfer fee	0% for 3 months	Barclaycard Freedom - a reward programme like no other
Representative Example: 16.9% APR representative (variable). Based on a credit limit of £1,200 and a purchase rate of 16.9% p.a. (variable). Barclaycard, 1 Churchill Place, London E14 5HP
	Post Office Credit Card	16.9% APR Representative (variable)	0% for 14 months	2.98% transfer fee	0% for 3 months	0% commission on purchases overseas
Representative Example: Introductory rate of 0% purchases for the first 3 months and 16.9% thereafter. Credit limit is subject to status. 16.9% APR Representative (Variable). Post Office, 148 Old Street, London EC1V

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What are Low Interest Rate Credit Cards?

The average rate of interest on a credit card for normal purchases was 16% in 2007, according to Datamonitor analysis. Low interest rate credit cards typically offer a rate of interest in the region of 8% to 10%.

What are the Benefits of a Low Interest Rate Credit Card?

Low interest rate credit cards suit people who don’t like chopping and changing between cards. They’re also useful for those who carry a balance forward each month and are not always able to clear it straight away.

What else should I know about Low Interest Rate Credit Cards?

These are ‘no frills’ credit cards that seldom offer rewards such as cash back or 0% introductory deals.
Long term debt solutions such as a lifetime balance transfer credit cards may offer even lower rates of interest, so shop around first.
If you consistently clear your balance at the end of each month then a low interest rate credit card may not be for you. Take advantage of the special offers associated with reward cards instead.

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