9 per cent Credit Card Sainsbury's launches new low rate credit cardSupermarket launches 6.
9 per cent credit for Nectar Card holders onlyByLove 12:21, 15 MAY 2012Updated12:21, 27 SEP 2012Back in 2007, there were 14 credit cards offering a standard rate below 10% whereas there are now only four! That's pretty shocking given that the Bank of England's base rate is at 0.5%.Good news But I do have a bit of good news. One of those four low rate cards is new and it's a market leading product from Sainsbury's. It's called the Sainsbury's Low Rate Credit Card.It comes with a 6.9% interest rate which is way lower than the average UK credit card rate of 17.3%. Even better, there is no balance transfer fee.So if you took out this card, you could transfer a debt from another card and only pay 6.9% interest on the debt. And if you used the card for a purchase, you'd only be charged 6.9% too.You'll need a Nectar card to qualify for this credit card, but they're easy to get if you don' t have one already.You'll also need a strong credit rating to be eligible. If your rating is decent but not excellent, you may be offered one of these cards but with a high interest rate.0% cards I think I can guess what you're thinking. Why transfer your debt to a card that charges 6.9% when you could transfer this debt to a 0% balance transfer card?Well the first problem with 0% cards is that the 0% period will come to an end sooner or later. 23 months at the longest.At that point, you'll either start paying a much higher rate perhaps 18% or you'll have to transfer your debt to another 0% card. That's a hassle and there are no guarantees that you'll be able to getanother 0% card when your current interest free period ends.Fees The other big issue is that 0% balance transfer cards charge a fee typically around 3%. Low interest cards don't charge a balance transfer fee.Now it's true that a 3% fee seems cheaper than a 6.9% interest rate, but it doesn't always work out that way. pandora charm braclet Let's look at a couple of examples:Example oneLet's imagine you owe on your credit card pandora jewelry online and you want to transfer that debt cool pandora charms to pandoras braclets another card. Once you've transferred that debt, you plan to pay off your debt via monthly instalments of You've narrowed down your choice to the Sainsbury's card or the Barclaycard 22 month Platinum Visa card.
The Barclaycard is a 0% balance transfer card with a 22 month interest free period. It charges a 2.9% fee.
Prev: cheap charms for pandora bracelets
Next: pandora charms uk
|1||pandora jewelry shop...||Why are we sending precious water downstream for fish in the middle of a drought|
|2||pandora charms online sale...||Who was Hippolyta in Greek Mythology There are so many stories and versions of|
|3||pandora rings online...||wide characterisation of Hepatitis B mutations involved in clinical outcome Gen|
|4||pandora bracelets and charms...||When is it Time to Seek Help Brad Pitt and Angelina Jolie's marriage has been r|
|5||pandora bracelet for charms...||Adam Nelson Taking place over two days in June, the Nelson Group had a retreat|
|6||pandora charm warranty...||White Rock Hells Angels Implicated in U This image released by Twentieth Centur|
|7||pandora america...||Why Your Phone Will Soon Replace Your Laptop Almost every major consumer tech p|
|8||monet jewelry...||A survivor of a paedophile ring tells her story Canadian born Carrie Bailee suf|
|9||pandora jewelry earrings...||White Rock retains small town charm This once small, sleepy, seaside community|
|10||pandora official website uk...||27 things men do in bed that women hate We threw the question out to Facebook,|