Low-interest credit cards

These offer either a low introductory rate that rises after a certain period, or a low fixed rate. For example, you may get a card with an introductory rate of 5 percent for the first six months and 10 percent thereafter. For the first six months, any purchases you make balance you transfer will be charged a 5 percent rate. However, any balance that you carry past the six-month period, or any new purchases outside that period, will then be subject to a 10 percent rate percent. Many people take advantage of introductory rates to lower the cost of borrowing on expensive items. Be sure to read all the terms and conditions of the introductory rate to avoid being penalised by fees or accumulated interest.