Interest Rate is the most important factor to consider when choosing a credit card. Credit card interest rates can vary from 11% to above 21%. Lets take a closer look at the differences over a year's time.
| Average Balance | 21% | 18% | 16% | 12% |
|---|---|---|---|---|
| 300 | 63 | 54 | 48 | 36 |
| 500 | 105 | 90 | 80 | 60 |
| 800 | 168 | 144 | 128 | 96 |
| 1000 | 210 | 180 | 160 | 120 |
| 1500 | 315 | 270 | 240 | 180 |
| 2000 | 420 | 360 | 320 | 240 |
As you can see the interest saved by obtaining a reduced rate charge card can be significant, especially as the average balance increases. Listed on the following pages are some of the lowest-rate credit cards available on a nationwide basis.
