Looking to cut back your monthly costs, choosing a credit card with a low interest may be a good start. Here are 3 credit cards with an APR lower than 10%.

We all know that money spent on credit card interest charges is money wasted, so it’s important to find a card with the lowest rate possible. While credit may not be as free and easy as it was a couple of years ago, shopping around may still mean you can find a good deal with some credit card issuers offering APRs below the 10% figure.

If you are looking for low cost credit cards here are three of the bests with interest charges below 10% at the time of writing:

Sainsbury’s Low Rate Credit Card 6.9% APR – If looking for a really low rate, forget the bank and try the supermarket. Sainsbury’s finance offers one of the lowest rates in the market at 6.9%, applicants do however need to hold a nectar card to qualify.

Barclaycard Platinum Simplicity 7.9% APR – This is a mainstream credit card for customers with a good credit history and issued with the Visa label. This is a card for those looking for a simple no nonsense credit card and a suitably low interest rate.

Capital One Click Card 9.9% APR – Another low cost credit card aimed at those who like shopping online. The card has a wide number of additional benefits including enhanced online protection and regular discounts. In order to qualify for the card, applicants are preferred to have a minimum income £20,000 and be a homeowner. In addition, the card is not suitable for those with a poor credit history or first time credit applicants.

As one can see the rates on the above cards are very attractive when compared to alternative credit cards such as the examples below:

However, there are some drawbacks. In the first case, those with poor credit histories are unlikely to be able to achieve these rates and will probably have to look for alternative credit sources. In addition, lower rate cards can often lack all the features and benefits offered by other more expensive products.

So if you are looking for a low cost credit card and have a good credit history, consider investigating further any of the providers mentioned here. However, if you are looking to obtain credit for the first time or have a poor credit history, you may need to check out alternative sources of credit.

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