Credit Card Practical Tips - Why You Should Compare Rates

people do not take a moment to compare credit card rates before the election and to apply for one. Or those people who do not take the time to compare credit card rates, but still can not choose a card with the best rates and lowest total fees and costs? We all know what we should not, but when it comes to our finances, especially should try harder not to do anything but can not predict it will only lead to financial stress. If you are sensible enough to do some calculations first, you will be shocked by the amount of money unnecessarily, they will lose with this decision careless. So, do not be in a rush to apply for credit cards or respond to appealing marketing promotions. Fill out your credit card study compared first, and more importantly, just send your applications for credit cards you have thoroughly checked will give you a lot.

Interest rates generally differ from country to country, as well as for all banks. As in the United States, for example, credit card rates of 7-39%, while in South Africa, interest rates can range from 9% to more than 35%. On the other hand, there are countries which are almost similar rates.

is also clear that the choice of the card depends on the consumers themselves and what type of card will work best for them, but for the purposes of this article, only credit card rates for banks in South Africa will be compared. To begin to compare the survey, we will enumerate the differences in interest rates in South Africa.

Virgin Money in 2007, first launched in the South African market, consumer friendly credit cards that charge no annual fees, swipe fees, on-line service fees and transaction fees. In addition, Virgin Money is paid the highest interest rate (9%) on the card holder a positive balance. And at the end of each month, customers receive a "grace period" of 25 days to settle their outstanding debt, after which they will be charged 20% annual interest on the debt. Virgin Money rates were also associated with the movement of repo rate from the South African Reserve Bank.

In addition, based on the data when we are investigating this article, Nedcor charged an interest rate of approximately 31.5% annually, while First National Bank or FNB charges an interest rate of 31 % for regular cards and 29.5% for gold cards. Moreover, Barclaycard Visa credit card and Barclaycard Prime Visa credit cards charge between 13.9 to 17.5% and 12.4 to 17.5% and the annual addition to Barclaycard, card holders get access to a budget facility that allows them to buy in installments six months to two years, and until 57 days interest-free loan, a full service ATM (withdrawals, deposits, state inquiries and mini statements), and much more.

Based on this discussion, we come to the conclusion that Barclaycard offers the best interest rates on credit cards to their customers, but there is still a need to look at other features of the card before deciding.There are also other important factors to examine, such as bank fees and charges, which pays the highest interest, if you have a positive balance. But for now, Barclaycard seems to offer the best choice for people in South Africa when it comes to having the lowest interest rates.