Credit Card Percentages Explained

The credit cards shown in the comparison tables on this site are split into purchases, balance transfers and Typical APR. The balance transfer percentages refer to the percentage you get charged on transferring the debt from one card to the new card. Also will be shown the length of this percentage. They invariably do not last forever. They usually last between 3 - 12 months. These are here to get you to sign up to this card. Once this introduction period has ended the percentage will rise to their standard percentage of interest for this particular credit card.

The purchases percentage is how much you get charged on purchases if there is an introductory offer. So for example, it maybe 0% for 6 months. Therefore this means that if you purchase things on this credit card within the first 6 months you will not get charged interest on this part of the debt for the first 6 months of having the card. This is also an offer to entice you to take the card on.

The third percentage is the standard percentage the credit card charges for interest. This is when you are no longer under any introductory offers.

Beware. When you pay off your credit card they will often pay off the lower interest parts of the debt first meaning you will pay more in interest. This means less cash in your pocket.

APR means Annual Percentage Rate. PA means Per Annum. Variable APR changes with the changes of a particular Index.