Applying for a credit card
Want to be prepared before starting your credit card application? We'll help you put the pieces together with our 5 step guide on how to get a credit card in the UK.
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Credit cards
Understanding low APR credit cards
What is a low APR credit card?
Low APR or low interest credit cards offer a low rate on purchases and/or balance transfers for a certain period of time.
Credit cards with low-interest or a low-APR can help make your credit card payments more manageable. They’re also useful if you want to spread a larger purchase over a number of months.
Remember, if you're thinking of applying for a low rate card your actual credit limit and APR may vary on application, which means you may not be eligible for the lowest rate offered.
What's the difference between low-interest and interest-free credit cards?
All credit card providers charge some form of interest for the cost of lending credit.
Some credit card deals offer interest-free periods, but an interest rate will be charged at some point, usually when the offer ends.
Of course, if you clear your balance at the end of each month and continue to stay on top of your payments, you don’t have to pay interest at all.
What are the benefits of low interest rate credit cards?
Simplify budgeting
You could avoid interest rate hikes and simplifying your budgeting
Pay less interest
0% offers on balance transfers and purchases mean you could end up paying no interest at all, as long as you clear the full amount before the promotional period ends
Spend with certainty
Spend with more certainty, as you know exactly how much interest you’ll be paying for each spend
Spread costs
Spread the costs of larger purchases out over a period of time and pay lower interest on your purchase
Our range of credit cards
Head on over to our credit card hub to take a look at our range of credit cards. It's all here in one place.
Eligibility applies. Over 18s only.
Stay on top of your payments
Our credit card repayment calculator shows you how much your minimum payments could be each month. Just select your card type and it'll work out your interest rate and other fees to help you stay on top of your credit card transactions.
Our guide to credit cards
Want a bit more background detail about how credit cards work? In our handy guide, we run through the different types of credit cards and help you understand the basics, as well as offering you some useful tips.
Support with Coronavirus
If you are concerned about being unable to make your repayments on your Shostra Bank credit card, we have lots of guidance and support to help you.