The high and low-interest rate on a credit card
Credit cards are available in different kinds with some common features and also with different features. Some of the cards charge a minimum interest rate on services being provided by the service holder and some of the cards charge high-interest rate according to the needs of a customer. The rate and expense on a card will increase if one will demand best and priority services.

There are many factors that may influence the expense of card including credit limit, repayment of card bills and many other things. We can’t say that one card is better than others but only because of the services that are being provided on a particular card. For example, if a person carries the best shopping credit card, for sure that card will be able to provide some amazing discount offers on all brands and products.

If there is no such thing then what’s the purpose to use that card. So always be smart and sharp for taking services of a card. This is the most important point to choose a card. In advance for the ease of a customer, credit cards most of the time are divided into different categories. Like if someone is a frequent traveler and he/she has to travel from one country to another for their personal or business tours, for sure only a travel card can meet the needs. Don’t need to be smart to take different cards and using for different tasks. One cannot even handle a bad card at all so there is no need to take services from diverse card suppliers. Always be clear in your plan and to execute the right things for your survival and savings.

The interest rate on a credit card in UAE
Well coming back to the most important part of the article we will discuss the interest rate being charged on different kinds of cards. Basically, there are two main credit card interest rates: the purchase and the cash advance rate. When we talk about the first one that is known as the purchase interest rate applies to most everyday transactions and ranges from around 9% p.a. to 22% p.a. If you are using a low rate credit card these for sure has the lowest standard variable interest rates for purchases.

There is another amazing point that is the cash advance interest rate applies when you use your credit card to withdraw cash from an ATM. Not only from these sources can you use it for other “cash equivalent” payments such as buying foreign currency making any payments in foreign. Cash advance interest rates are almost always higher than the purchase rate, typically around 19-22% p.a. for most cards. The reason is simply that the second method is used for commercial or priority services. Cash advances are also ineligible for interest-free days because there is always a regular interest on all purchases.

Nearly all credit cards including best shopping credit card provide its customers offer up to a number of interest-free days on purchases, such as “up to 55 days” when you pay your card off in full by the statement due date. There are certain terms and conditions and if you meet this requirement, the interest-free period begins on the first day of your statement cycle. In this way, one can get the best compensation on overall expenditures.

Author's Bio: 

Chris - Always love to share news for Startups and Learning, Writer & Blogger by Profession for AI, IOT, Digital Transformation topics, and Entrepreneur by nature aggressive ideas sharing for best shopping credit card Following tech related news and updates and sharing with people.