Comprehensively offered by majority of financial institutions and banks, standard credit cards are the common most type of credit cards readily available in the market. The additional benefit that they provide to the customers is the fact that they are unsecured. This means that the customer does not need to provide any sort of deposit to the issuing bank in order to prove the security of repayment.

The manner in which the annual rate of interest is offered and interest is calculated for these cards can differ in some ways which are mentioned below:

Balance Transfer Cards
Balance transfer credit cards are specially designed cards which enable their customers to the balance from a higher interest credit card to a card with a lower rate of interest. The basic objective behind using these credit cards is to save immensely on interest charges. The introductory APR or Annual Percentage Rate of these cards I 0% which can last from few months to a year. Customers can utilize the benefits of balance transfer cards to save a substantial amount of money which could be paid in charges.

Credit Cards with Low Interest Rates
Some banks offer standard credit cards with a lower rate of interest. The APR can be low when introduced and may climb higher at the end of a particular period according to the scheme or offer. There are some cards offered which have a lower rate of interest that remains constant throughout its use. A low interest credit card can prove to be beneficial to you while making large purchases as it provides you the leverage of several months to repay the bill amount and that too at a low APR.

The easy and simple format of borrowing and repayment makes standard credit cards as a suitable option for any person. Going for a standard credit card is probably the one of the best thing a person can do to pay off monthly or daily expenses and keep tab on the budget at the same time.