Best of low interest credit cards
28 April 2008
Some people use credit cards as a slight extension of their finance, and while this is not the optimal method of use, many credit cards are designed with this kind of usage in mind. The best low interest credit cards combine other helpful interest and debt reduction features to help the user remain in the black as much as possible.
The St. George Vertigo MasterCard is an excellent example of a well designed low interest credit card. Purchases accrue interest after up to 55 interest free days, and then at an exceptionally low rate of 10.99% p.a. If you wish to transfer existing balances to a new St. George Vertigo MasterCard, then you could benefit from 6 months interest free on balance transfer amounts. At just $45 in annual fees per year you may save hundreds compared to your existing card.
Another credit card with very low interest is the Aussie MasterCard with 11.99% p.a. on purchases for $49 in annual fees. The advantage this credit card has on the St. George Vertigo MasterCard is a lower cash advance rate of 15.99% p.a. compared to 20.49% p.a. but it is not advisable to use credit cards for cash advances.
If you do find that interest on cash advances is a frequent drain on your finances, then you may want to consider a low interest credit card that has a low interest rate all round. The St. George Starts Low Stays Low Credit Card has an interest rate of 12.99% p.a. on purchases as well as cash advances, although the interest free period applies only to purchases. Costing an annual fee of $59, the St. George Starts Low Stays Low Credit Card is a useful tool for those who occasionally need some extra cash.
Please visit our dedicated pages for more information on low interest credit cards. Our comparison pages boast an impressive range of top credit cards for your perusal.
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