Credit card requirements for each individual are different. Certain features which may be useful to one, may not useful to another. Each card varies depending on the credit period, the cash advance given on the card, the interest rate charged, reward points and many other features which help companies differentiate their cards in this competitive market. In this are article I have attempted to explain the varies features of low interest credit card and help you decide the best low interest credit card for you.

You don’t have to look hard the find out that the lowest interest on credit cards today is 0 percent. These 0% interest credit cards are only useful to people who require credit for short period of time. Once the offer period, known as the introductory period, is over then interest is charged at normal rates which is anywhere between 16-19%. Even though on the face of it the cards might look pretty attractive but in the long run interest paid on these cards could be very high.

Let us understand the difference between introductory and fixed rate of interest. The introductory interest rate on the credit card is only for limited period of time. This introductory period ranges between 3 months to 1 year. At the end of the introductory period the credit card company charges interest at normal rates of interest. These normal rates are not as high as 36 or 39 percent but are quite high when compared to other low interest credit cards available in the market. In fixed interest rate credit card the interest is fixed throughout the tenure of the card. There is no introductory low period after which the rate changes. These fixed interest rates are at times as low as 8 to 9 percent.

The best way of making use of these introductory 0 percent interest credit cards is to enjoy the interest free period of the card and then transfer the outstanding to your low interest credit card. So look at where you stand financially. If you are sure that you can pay of your outstanding within the introductory period then get yourself these really low (read zero) interest rate credit cards. On the other hand if are not sure that your will be able to pay back the amount within the introductory period then it is advisable that you don’t get yourself these 0% interest credit card. If you are very much desire to have 0% interest credit card then have an additional low interest credit card with you. Once the introductory period gets over then switch your outstanding to low interest credit card. This will help you to get an introductory 0% interest on your outstanding and once the outstanding is transferred to your low interest credit card, you continue to enjoy low rate of interest on outstanding.

So be smart and don’t rush into getting a zero interest credit card just because the advertisement says so. What is required is that you understand where you stand financially and then get the card which suits your requirement the best.