Low APR credit card

cheemsta · 9 April 2020 at 10:23AM

Need some advise....
I'm thinking of applying for a low apr card I know TSB are doing (advance) at 7.9% and some other lenders are showing 9.9% (Lloyds, Halifax Flexi & Bank of Scotland).
My personal spending habit is I rarely use a credit card, if I do, its paid it off in full within 10-15 days at point of purchase. I have no debt apart from a mortgage.
Should I be looking at low rate apr card based on this?

TadleyBaggie · 9 April 2020 at 10:32AM

If you always pay in full, the APR is irrelevant as you would incur no interest.

cymruchris · 9 April 2020 at 10:37AM

If you ALWAYS pay the full balance within 10-15 days of purchase - then aim for the best rewards card that you qualify for - use an eligibility checker to see what you'll be able to get - depending on your lifestyle - it could be something like the amex platinum cashback - or the barclaycard reward card - or something that collects extra points for flights for example. Find the one that has the benefits that suit you - low apr is of no use if you always pay it off in full.

MEM62 · 9 April 2020 at 12:41PM

There is no advantage in paying off withing 10 days. Pay when you receive the statement. And based on what you have stated as your spending habits the interest rate is irrelvant.