{"id":1413,"date":"2021-04-20T05:26:38","date_gmt":"2021-04-20T05:26:38","guid":{"rendered":"https:\/\/www.yonoqatar.com\/?p=1413"},"modified":"2022-12-05T18:22:45","modified_gmt":"2022-12-05T18:22:45","slug":"what-are-the-minimum-interest-rates-of-a-credit-card","status":"publish","type":"post","link":"https:\/\/www.yonoqatar.com\/what-are-the-minimum-interest-rates-of-a-credit-card\/","title":{"rendered":"What are the minimum interest rates of a credit card?"},"content":{"rendered":"

The resolve to digitalize the economy and erect a cashless society calls for an augmented rise in the use of forms of plastic money, such as credit cards. Credit cards allow varied sorts of transactions without having to pay the amount right at the spot. It grants an option before its users to delay the payment and postpone it to a certain fixed date in the future.<\/span><\/p>\n

\u00a0By swiping at the point of sale machines installed at various establishments or by entering the card details during digital payment, credit cards can be comfortably availed. Credit cards have rendered modern life easier by permitting the disbursement of expenses monthly. Moreover, customers can savor numerous benefits with every transaction; for instance, the credit points earned can be redeemed in the future for a rewarding voucher.\u00a0<\/span><\/p>\n

However, irrespective of the number of pros associated with credit cards, these are still not preferred by some customers. The<\/span> credit card interest rates<\/b><\/a> play a vital role in curbing people from utilizing its services in practice. Credit card interest rate is charged on the amount of outstanding balance — the money left to be paid after the passage of the due date.<\/span><\/p>\n

\u00a0Any delay in clearing the dues attracts a hefty penalty, the fine being determined by the interest rate. Moreover, any payment or transaction executed without clearing the unpaid amount also comes under the purview of the interest rate. <\/span><\/p>\n

However, one can bail out oneself from paying a heavy price by opting for credit cards that are accessible at a minimal interest rate. Several financial institutions offer credit cards at a nominal rate. Here\u2019s an exhaustive list of the minimum interest rates offered by various banks, and some other financial entities.<\/span><\/p>\n