Help Please - What is variable APR?

Leanne200

Does this mean they can change the APR at anytime? If so, I suppose the Halifax One card is not a good card to have... but it has been recommended to me.

Also, what is the best card around for 0% on purchases and BT's, as this is what I am ultimately looking for.

Thanks

sicker

Leanne200, I think you will find possibly in the small print that all credit cards maintain the right to change their rates at any time. Quite a logical step really

John

Leanne200

Ok that would make sense, thanks, but the that doesnt really answer my question fully.

Anyone else?

Clariman

Leanne200 wrote:

Ok that would make sense, thanks, but the that doesnt really answer my question fully.

Anyone else?

I thought the poster answered what seemed to be the main point in your question. Anyway, let me add some more detail.

APR means Annualised Percentage Rate and it provides a means of comparing interest rates between different cards. It enables you to do a like for like comparison. Bottom line is that the APR is the interest you pay if you have a debt for 1 year.

So, Variable APR is an interest rate that is variable i.e. as the other poster says, the interest rate can be changed by the lender.

As the other poster also said, all credit cards have variable APRs so don't look negatively on Halifax any more than any other lender. If you want to understand precisely what rights a lender has to change your APR then read the Terms and Conditions fully.

Clariman

YorkshireBoy

Leanne200 wrote:

Also, what is the best card around for 0% on purchases and BT's, as this is what I am ultimately looking for.

You'll have to define "best", ie...

• Do you want to avoid a BT fee?
• Do you have a large balance to transfer, therefore able to make use of a BT fee cap?
• Is a long intro period important?
• Is the size of the minimum payment important?

Take a look at this table of BT cards and, so you don't select the wrong provider for your BT, check out who owns who first.

Leanne200

Thanks very much to both of you!

The links have been really helpful, I want to get no BT fee or at least a capped one as transferring a balance of about £1800.

I think I might still go for the Halifax card based on your advice, as I have my accounts with them too.

Cheers