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Best Low Interest Credit Cards 2023
Low Interest Credit Cards: FAQs
What Are Low Interest Cards Used for?
A low interest credit card is excellent for borrowing money without the burden of hefty interest fees. Here are some ways you can use your low interest credit card:
- Making purchases
- Making a balance transfer from a different card (this may incur a one-off fee)
- Withdrawing cash
- Transferring money to your current account (this may incur a one-off fee)
Can You Get a Zero Interest Credit Card?
You can’t get a credit card that offers 0% interest forever. However, many cards offer an introductory period where you can enjoy 0% interest rates for an agreed time. You may also find additional promotions up for grabs, such as 0% bank transfers.
Is It a Good Idea to Get a Credit Card?
Contrary to popular belief, credit cards can actually help your financial status and improve your creditworthiness. So long as you use your card responsibly, you can effectively build credit and even earn rewards. Credit cards are additionally handy in case of an emergency, should you require money.
How Many Credit Cards Should You Have?
The number of credit cards you possess is entirely down to your personal preferences and needs. In most cases, it’s unnecessary to have more than one credit card. Before selecting a new credit card, be mindful that your total available credit, and your debt to credit ratio will dictate your credit score.
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