Advice on How To Compare Credit Cards Easily Online

In today's competitive credit card market, companies are scrambling with more determination than ever to attract new customers to use their products. For people with a good credit rating, new offers arrive almost daily via the post or e-mail. Many of the offers talk of tempting credit cards terms that seem too good to refuse.

But, before opting to sign-up for any one of these deals, it is a good idea to establish just how competitive these deals really are. After all, you don't want to start using credit cards that although appear attractive in the short-term, actually cost you more to use in the long-term.

How to compare credit cards

Comparing credit cards has never been easier than it is today. Several web sites now provide up to the minute data on the latest deals that are available to the UK public.

Online credit cards portals and comparison sites, which deal exclusively in providing structured information on the key features of different credit cards offers, are very useful. Not only do they identify which types have the best deals, but they also have links through to online application forms, making the whole process of applying for credit cards very quick and easy.

Key features
So, when comparing cards, what should you look out for? Here are some tips:

APR Rate

The APR rate stands for the annual percentage rate. On credit cards it is the interest rate applied to outstanding balances once any introductory offers have expired. If you intend to carry forward a substantial amount of debt, paying off only the minimum each month, then cards with a low APR are preferable.

Purchase Rate

The purchase rate is the interest rate applied by the credit cards companies to your purchases, where an outstanding balance from your purchases is carried forward to subsequent months. Often the standard purchase rate is the same as the APR. However, several credit card companies provide discounted purchase rates on their offers over a limited time period. Some companies may even furnish their customers with 0% interest offers on purchases for six months or more.

Purchase rate discounts have the potential to save you money. This is especially true if you intend making a purchase and then commit to paying the balance off within the timeframe of the discount. By doing so, your purchases will have been made on interest-free credit.

Balance Transfer Rate

Several credit cards now offer 0% on balance transfers for an introductory period. If you want to consolidate your debts or just save money on your monthly credit cards repayments, cards providing a 0% balance transfer facility are the way to go.

Cash Advance Rate

Credit cards can be used to withdraw cash from ATMs. If you intend to use your credit cards for this purpose then opting for credit cards with low cash advance rates is paramount.