Low Interest Credit Card with No Annual Fee

 One of the features of low interest credit card is an annual fee. It would be better if you want to get a credit card with no interest, you choose a card with no annual fee. Of course, with this card you will save. The annual fee is usually $ 30 to $ 100 per card.

As I explained in some other articles, low interest creditcard is only valid for a limited time. For example, 6 months, 12 months, 15 months or 18 months. This is called introductory or promotional period. With this offer, the bank hopes to gain new customers as much as possible.

During the introductory period, you will not bear interest. You only have to pay the principal, either for purchases or balance transfers. After the introductory period is complete, you will be charged the normal rate that the amount is varies. It depends on your credit score.

The higher your credit score, the less interest charged to you.

 No Annual Fee for First Year and for Life

But credit cards with no annual fee there are two types. No annual fee for a limited time and for life. The credit card no annual fee limited time, for example, it is only for the first year of card ownership.

It means that you have to pay annual fee since the second year. Credit card offers no annual fee the first year, for example, Commonwealth Bank Low Fee Credit Card. But for the next year, you can still get a no annual fee if you shop the previous year to $ 1,000 with this card. The offer is unlimited.

Meanwhile, the credit card with no annual fee for life there are some. For example, HSBC Credit Card, Virgin No Annual Fee, BankWest Zero MasterCard Platinum, etc.. But the credit card which is more profitable, you still need other features such as the amount of annual interest (APR), late fees, gifts, etc.

You need to compare at least six credit cards to suit your needs. But low interest credit card with no annual fee could be one option.