Credit Card Rates
The credit card rate (APR) can differ massively between credit card companies. The credit card market is very competitive and providers will always offer incentives to make their credit card offer more appealing than other credit card companies. Incentives include air miles, reward points and cash back schemes. Most credit cards will include 0 balance transfers for a set period of time.
If you are looking for a good standard APR (Annual Percentage Rate) for a long-term credit card then it's worth looking beyond the 0% balance transfer deals and 0% introductory rates which many credit card companies offer.
You can compare credit cards by using the cards APR (Annual Percentage Rate) BT rate (Balance Transfer Rate) and Standard Rate on cards (right). All credit cards by law will state what their APR is. The APR includes important factors such as the interest rate you must pay, how you repay the loan and the length of the loan agreement. Usually, the lower the APR the better the deal however you should also be aware of the different types of APR.
- APR Typical - is the very minimum the lender expects. 66% of people applying for this card will get this rate but the actual rate you pay will depend upon your personal circumstances.
- APR Typical Variable – is the same as APR Typical but the rate can also go up and down during the lifetime of the card. The credit card rate can change for reasons including changes in Bank of England base rate.
We always recommend reading the small print before you make the credit card and make sure you know exactly what you're paying for.