To help lure consumers to their products, many companies offer free balance transfers from your old credit card onto your shiny new one through them. Once the money is safely owed to this new company, they will often provide a grace period with sometimes as little as 0% interest for anything upto a year.
Purchase deals are introductory offers on credit cards that last upto 3 months. It defines the special interest you will be charged on all credit card purchases up until the expiry date at which point you will then be charged your typical APR thereafter.
Credit cards are a credit form of borrowing meaning you can purchase goods and services and return the outlay at a later date. Many use credit cards to also obtain cash advances and for consolidating debt.
The amount you must pay as a minimum each month to keep your account in order.
Interest free period
The time between when you purchase something on your card and the date when your monthly bill is to be paid. This can sometimes be 50 days or more and is interest-free meaning if you settle your credit card in full every month before the due date, it's free borrowing.
A rate that is applied to your account until a given expiry date as a means to make you use the card more. After this period it will revert to the standard rate applicable to your account at that time.
APR is the annual percentage rate of interest on a credit card. This is the amount you will pay in interest charges per year. In its most simplistic form, you can figure out how much you pay per day, take the APR divided by 365. The shown APR is the interest you will pay if you have a good credit rating.
Compare All Cheap Credit Cards