Cheap credit cards

Friday, 17 November 2006 02:28

Cheap credit cards provide the ability to borrow money at a lower interest rate than many other cards.

People looking for credit cards with the best interest rates generally turn to credit card comparison sites - however consumers must be careful when doing this.

Shopping around for a cheap credit card is necessary as interest rates offered vary from zero per cent (for a limited period), less than ten per cent on an ongoing rate, and in some cases as high as 70 per cent.

However, people are warned that heading to comparison sites to find the cheapest credit card might be misleading as the top-rated cards might not be available to everyone - especially those with poor credit ratings - and that repeatedly applying for credit cards can damage credit ratings further.

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