What Is The Best Credit Card Interest Rate Available In The UK?

Before identifying the best credit cards offering low interest rates in the UK, it is important to understand that the interest rate is charged on the risk perception as determined by the credit card company.   

MBNA charges on some cards an interest rate of 16.9% as the annual percentage rate. This makes it a highly competitive credit card that enables individuals to enjoy liquidity without increasing interest costs.  Of course, you always have the option of repaying all the debts before the grace period expires. Once this is done, you will end up using your credit card without paying even a dime of interest. If you are classified as a high risk candidate, you will have to pay a high interest rate. On the other hand, if you have a high credit rating, you can easily apply for a credit card with much lower interest rate

There are just one or two other companies that offer credit cards at lower interest rates as compared to MBNA. However, when these credit cards are compared and when the balance transfer facility, the ease of application and the overall consumer experience is assessed, it can be safely said that they are no competition.

The best place to validate this claim is the internet, you just have to keep searching and comparing different credit cards in the UK until you identify the best one around. Remember that there is no compulsion to accept the credit card interest rate as offered, just look for another card that you do like the interest rate of.   

If you are not satisfied with the interest rate you get offered, try boosting your credit rating, a higher credit score can open up a whole load more doors into the world of credit card offers like these.

If you are after rewards or 0% balance transfers on your credit cards, you will have to make sure you take these into consideration as the whole picture before making your final decision on the interest rate.  

Decide how many months interest free will be sufficient for you; most cards will give a longer period if they can get away with charging more interest as a result. Only go for what you think you will need, because once it's gone, it's gone. Combined with a quick online approval, finding a credit card offer with a great interest rate in the UK is a doddle.