These are unsecured credit cards, which vary in how the APR is calculated or offered. They include the following subtypes:
Balance transfer credit cards
These cards allow people to move the balance from one of their high-interest rate cards to one with a lower interest rate. The cardholder will therefore save money in interest charges. The terms and conditions of each balance transfer credit card offered can vary greatly so, if you opt for one of these cards, make sure you thoroughly read and understand the terms.
Low interest credit cards
These credit cards either have a low introductory APR (Annual Percentage Rate), which then increases after a certain period of time to a higher rate, or they have a fixed low APR. Some people use cards which have a low introductory APR to buy expensive items, so that they have a longer period of time to pay them off at a low interest rate. Some of these cards have fees or accumulate interest, so be careful before you sign up.
