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Credit Card Interest Rates: What Are They?

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Digital India has led to people depending more on modes of cashless payment and credit cards are a leading choice. However, a major worry for users is the amount of interest that they might have to pay. There are many users that rely on cash payments or debit cards because of the probability of high-interest rates. However, the interest rate is variable for each user and a credit card with higher interest may not be so bad. Here are a few insights on the role that interest rates play on your credit card purchases

Interest Rates and Their Features

Contrary to popular belief, not everyone wants low interest. The reason for it is that low interest means the number of available perks on the card would be less. Also, it is generally advised that if you avail low interest rates, you should not go for cash advances. Additionally, not everyone is eligible for low interest rate as it is only offered to people who have a high net-worth. Furthermore, you will have to maintain a high credit score if you want low interest rate on your card.

Perks of Low Interest Rates

Lower interest rates on cards have low annual fee. This makes you eligible for a waiver from the bank if a defined specific amount is spent during the year. The cardholder can use the facility of rollover credit, if the interest is low. Therefore, even if you cannot make the entire payment in a single month, the interest carried over would be not be very high. One of the major perks is that the accumulated debt is never too high. Thus, allowing the cardholder to pay the debt without much hassle.

How to Achieve Low Interest?

As a cardholder, you should always pay bills on time and maintain regular bill payment cycles. After doing so, you can request the interest rate on your card to be reduced. Additionally, by maintaining timely payment cycle and low debt, you will not only maintain a high credit score but also have good relationship with the bank.


While checking out convenient payment options that allow you to shop effortlesslyon your credit card, you can also check out credit card interest rates.


To know more visit YES BANK's website and check out their Savings Account, Fixed Deposit and Personal Loan.

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