The best low-rate credit cards

Don't want to keep jumping between 0% credit cards? Low APR credit cards give you a steady interest rate for the lifetime of your debt.

A low-APR or low-rate credit card is a good choice if you’re after a simple piece of plastic that offers a consistent rate of interest.

As the name implies, they don't usually come with very big 0% offers on things like balance transfers or purchases, but you do know exactly what rate of interest you'll be charged if you don't clear your balance in full each month.  

That means there's no need to mark a date in your diary for when an introductory offer ends and, as a result, they’re a good long-term option for those who are forgetful or simply can't be bothered to regularly switch.

So which cards are there to choose from? And what do they offer?

Is it the right credit card for you?

Before getting any credit card, you should know what you'll use it for.

If you plan on making a big purchase that you won't be able to pay off in a month, then a 0% purchase card could give you up to 28 months interest-free to pay off the debt.

That could work out far cheaper than paying even low interest for those 28 months.

If you're considering a low-rate credit card because you're regularly unable to pay off your credit card, you should consider getting a 0% balance transfer card to reduce the cost of your debt with an aim to paying it off.

You could also consider getting a personal loan.

Best low rate credit cards

These are the low-rate cards currently available with APRs of below 10%, from lowest to highest:

Tesco Bank Low APR Credit Card

The Tesco Bank Low APR Credit Card offers a representative APR of 5.9%, but successful applicants may be offered a rate of up to 11.9%.

The card offers a one-month 0% period on purchases and balance transfers.

What’s more, the card allows you to earn Clubcard points when you use it, with one point gained for every £4 at Tesco or every £8 spent everywhere else.

Bank of Scotland/Halifax/Lloyds Low Rate Credit Card

The Bank of Scotland Low Rate Credit Card comes with a representative APR of 6.4%.

At least 51% of successful applicants will get this interest rate, but others might be offered a rate of up to 14.9%.

There is no balance transfer fee for balances transferred in the first 90 days. After that, a fee of 3% applies.

Halifax and Lloyds Bank offer the same low interest rate at 6.4%.

NatWest Credit Card

The NatWest Credit Card offers a higher interest rate than the above credit cards at 9.9%, as well as no foreign transaction fees.

Unfortunately, you could be one of the unlucky applicants offered an interest rate of up to 18.9%.

Ulster Bank, Royal Bank of Scotland, American Express, Clydesdale Bank and Yorkshire Bank also have credit cards with the same initial interest rate as NatWest of 9.9%.

Credit rating

If you have a less-than-perfect credit history, providers may not offer you a deal at the advertised rate.

They are only obliged to offer the representative APR to 51% of successful applicants. Read How to repair your credit history.

More on credit cards:

The best airmile credit cards

The best low-fee balance transfer credit cards

More on credit cards:

The best air mile credit cards

The best low-fee balance transfer credit cards