Low APR Cards
APR or Annual Percentage Rate is an expression of the effective interest rate that will be paid on a loan, taking into account one-time fees and standardising the way the rate is expressed. The aim of using APR is to calculate a total cost of borrowing. APR is intended to make it easier to compare lenders and loan options.
Low APR Cards:
| Card | Balance Transfer Rate | Interest Free Period | Typical APR | |
|---|---|---|---|---|
| Co-operative Bank Flat Rate Platinum Visa (Fixed 5 years) | None | 46 days | 8.90% | CONTINUE» |
| Co-operative Bank Platinum Base Rate Tracker Visa | 4% / 6 months | 46 days | 9.10% | CONTINUE» |
| Halifax One Card MasterCard | 0% / 9 months | 59 days | 9.90% | CONTINUE» |
| Bank of Scotland One Card MasterCard | 0% / 9 months | 59 days | 9.90% | CONTINUE» |
| Co-operative Bank Clear Visa Card | None | 59 days | 9.90% | CONTINUE» |
| Co-operative Bank Flat Rate Gold Visa (Fixed 5 years) | None | 46 days | 9.90% | CONTINUE» |
| Smile Gold Visa (Smile Current Account holders) | None | 46 days | 9.90% | CONTINUE» |
| Yorkshire Building Society Base Rate Tracker Card | 4% / 6 months | 59 days | 10.50% | CONTINUE» |
| Abbey Flat Rate MasterCard | None | 56 days | 10.90% | CONTINUE» |
| Abbey Flat Rate Visa | None | 56 days | 10.90% | CONTINUE» |
Despite attempts by regulators to establish usable and consistent standards, APR does not represent the total cost of borrowing nor does it really create a comparable standard. Nevertheless, it is considered a reasonable starting point for an ad-hoc comparison of lenders.
It is in the borrower’s best interest to keep an eye out for low APR offerings from Credit Card companies. By transferring your credit card balance from higher APR to low APR credit cards, you can dramatically reduce your monthly expenses.
