The only benefit to cancelling the lowest rate credit card is that it may keep an individual from over spending. In contrast, the highest card should always be cancelled and the lowest rate kept to reduce interest fees.
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Canceling your card can hurt your credit score..... SORRY!! You should not cancel even if you intend not to use it. One credit secret is the more available credit not in use the better you look. I.E. percentage of revolving debt compared to available-it helps reduce that and increase your number.
No. There is no time set for a credit card. It is issued at the pleasure of the CC company, and used at the pleasure of the customer.
The lowest credit card interest rate at the moment is 7.8%. The credit card that offers 7.8% is Sainsbury's Nectar Low Rate Credit Card. One can find low interest credit cards from the Money Supermarket website.
There are many credit cards that attempt to compete with each other for having the lowest rates. Currently, the Capital One VentureOne rewards credit card has the lowest rate.
6.99% to 9.99% is what the lowest credit card interest that can be expected is. A card with such low interest can not be expected to come with very many perks.