| In the UK APR
is charged in either one of two ways: variable or
fixed. When looking to go through with a UK credit
card application, you must discern which type of credit card you are looking at
before you compare it with other credit cards as this will affect the initial
APR rate- be sure to compare like with like.
Variable rate credit cards will have fluctuating interest rates, and will rise
and fall according to the Bank of England base rate. There is therefore an element
of risk with such credit cards, but bear in mind when making a UK credit card
application that you are always free to change credit card providers should the
interest rate become unfavourable.
Fixed rate credit cards will accrue interest at a continuous level. Fixed rates
will often appear to be higher than variable rates initially, but they offer the
cardholder the additional benefit of security. When scouting around for your ideal
credit card it is important, before making an application, to establish which
type of interest rate is more suited to you. You can then charge fixed or variable
rate credit cards with their counterparts; if you compare the APR of a bunch of
credit cards all in one lot then the variable rates are bound to come off looking
better.
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