Low Interest Credit Cards

New research from Sainsburys Finance reveals that 1.9 million people are planning to take out new credit cards over the next 12 months because the interest free period on their balance transfers has expired.  A further 867,000 people intend to do this because the same has happened on their purchases.

Analysis of industry data by Sainsburys Credit Cards reveals that the typical balance transfer APR on cards offering interest free periods rises to 18.2% APR once these expire.  Similarly, the average typical interest rate for cards offering an introductory 0% interest rate on purchases is 18.0% APR.

The Sainsburys Credit Card offers Sainsburys shoppers with a Nectar card 0% APR for the first 12 months on all their shopping and balance transfers (3% BT fee).  The card has a typical APR Representative of 16.9% on purchases once the interest free period expires.

Stuart McKeggie, Head of Sainsburys Credit Cards said:  “In total 7.9 million people told us they plan to take out a new credit card between October and September 2012, and 32% of these said it is because of their interest free periods ending on their existing cards.  This is still clearly the main reason for taking out a new card, and for those that want to spread their costs, it can be a sensible financial planning option.

“Our Sainsburys Credit Card offers a very attractive interest free period on both balance transfers and purchases.”

In terms of where most of the new credit cards being taken out over the next 12 months as a result of interest free periods ending, half of those taking out a new card in the North East (49%) will do so because of this, 35% of those taking out a new card in the East Midlands will do so, and 40% of those in the South East.

Switching credit cards used to be a time-consuming and highly stressful process but now, with most issuers offering balance transfer deals, the hardest part for many people is deciding on the right card.

While specific offers change frequently throughout the year, there are always a few features, like the ones below, that will help make the search for the best balance transfer as successful as possible.

Long Introductory Offers

Credit card debt comes in all different forms but regardless of how big a balance is a longer introductory period is usually better.

Cards with offers that run from nine months to a year or more give people a chance to get the account in order without rushing to make all the payments and take advantage of the low rates.

Cards That Revert To The Purchase Rate

People who want to take advantage of the lowest rates possible will probably be tempted by one or two 0% p.a.

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While applying for credit cards, usually people find them in big trouble. How a person can find himself in trouble? Actually, there are various types of credit cards available in market at the moment and people do get confused while selecting one. Do you want to compare credit cards? If yes, then it could be one the best ways to find the best deal or plastic money.

Check APR – APR is annual percentage rate on whatever you purchase. Cash advance and balance transfer scheme may vary from company to company. It is important compare APR before making the final decision.

Grace period – Grace period is always beneficial for those who are not sure about their payday or salary date. This time period gives you extra time to make the payment. Always go with card which offers maximum grace period.

Credit limit – It completely depends on your need and requirement. Sorry, we wrote it wrong. It depends on your repayment capability and monthly income. Never

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Lately, Chase credit cards have been getting a lot of press for their big, temporary signup bonuses. Remember when they gave away 100,000 British Airways miles? Seriously, who does that? They don’t have any offers like that now, but Chase credit cards tend to have excellent rewards programs, making them well worth a look. The points and cash back programs offer the same dollar-for-dollar value, and you can redeem points for cash anyway if you want to. The one thing to watch out for with Chase cards? Don’t expect the lowest APR in town. Here’s a list of our top picks.

Best Card for Travel: Chase Sapphire Preferred

The Chase Sapphire Preferred is one of the top travel credit cards, mostly for its killer 50,000-point signup bonus, worth up to $600. It also offers 2 points per dollar on travel and dining purchases, and 1 point per dollar on all other purchases. The t

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With all kinds of special promotions available, rewards programs offered, and different store and brand affiliations, it’s no wonder people are tempted to add more credit cards to their wallets. From Visa to MasterCard, Discover, and American Express, the choices for credit card issuers and offers go on and on. It can be challenging to select the perfect card for your needs, so sometimes accepting more than one credit card offer gives an easy solution. But when it comes down to it, how many credit cards is too many?

“There are two ways to look at this, depending on your objective,” says Gail Cunningham, Vice President of Public Relations at the National Foundation for Credit Counseling. “A person really only needs two general purpose credit cards. One is the card where they charge their everyday purchases and pay off the balance in full at the end of the month.

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