The importance of a low interest rate depends on your payment habits. For example, if you always pay your bill in full, your credit card interest rate simply doesn’t matter. And getting a low interest credit would likely force you to sacrifice a lot of rewards value. Still, some people who always pay in full wind think they need such a card in case they forget to pay on time one month. But if you have a pristine payment record, credit card companies will almost always refund any finance charges associated with a single slip-up. So this is a moot point.
Low interest rate credit cards can help people who consistently carry a balance from month to month or have a big-ticket purchase coming up. But would be even better since your full monthly payment will go toward the principal balance, instead of some of it being wasted on finance charges. That said, a low interest card is truly important if you occasionally revolve a balance. Your credit card company won’t give you the benefit of the doubt more than once, and a 0% credit card will not provide the long-term solution that you need.
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