What are the benefits and requirements for low rate card offers?

Answered on October 18, 2010
Updated on October 18, 2010
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
Low rate card offers are usually given to credit card customers who have an excellent credit rating or a great credit history. Low rate cards are of two categories. The first is the case where the card offers a very low annual percentage rate and this rate is stable and what will always apply. The only case when the rate could really go up a few notches. However, as per the latest credit card reforms, if a credit card holder pays the bill consistently for the next 6 months the interest rates will come to where they were initially. Given the intense competition amongst credit card issuers to get the customers with good credit rating a lot of incentives are offered and low rates are amongst the most popular amongst those offers. A few credit cards offer further incentives to attract more customers. This includes low introductory rates for a fixed period. A few credit cards offer very low introductory rates during the introductory period, of around 2-3 %. Some credit card issuers offer greater incentives by providing a 0% initial interest rate. There is another distinction too. The introductory interest rate of 0% or slightly higher is available either on just balance transfers or in some cases on both balance transfers as well as on other purchases. This offer is given by credit card issuers to attract customers of other credit cards. The 0% balance transfer is really beneficial for all those who have a high outstanding due and are unable to pay off the debts because of further interest accumulating due to high interest rates. The introductory rates ensure that for the first few months, the credit card customer will have enough time and opportunity to pay off the outstanding balance without worrying too much about the interest rate. Those customers who are offered low rate cards have to be careful about a few things including the fine print. Customers need to ensure that the introductory term period is same as you expect it to be, for it often varies from one customer to another depending on the credit rating. Secondly, although the interest rate on the card could be very low, there could be other charges like the annual fee, balance transfer fee, activation fee etc. which could prove quite expensive. Credit card customers can avail these low card offers to their benefit if they can be careful about all the terms and regulations.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

User Comments about This Question


With an excellent credit score the process of choosing a card is fast and easy, everything is available to you. The best option for you is to pick a 0% intro APR card. These cards allow you to pay for dental works over time, during a period of up to 21 months. Check out our pick of the best low intro rate credit cards and choose the one that suits you most.
Click here and browse the low rate credit cards we have on offer. Consider 0% intro APRs on purchases and/or balance transfers and be sure to find the credit card right for you.
With this high credit score± and you may qualify for a credit card with low interest rate. We cannot tell you how low your interest rate will be because each card has its own terms and some cards come with a range of APRs. We would recommend you consider credit cards with low interest rate or a card with 0% intro APR. ±Credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any credit card product.

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