So, You Ask, How Can You Get That Low Interest Credit Card

Category: Finance, Credit.

Right now, there are a lot of people who are enjoying the freedom of getting and using low interest credit cards.

You know the story, it wasn, at first t much, but now that you have added a lot of credit onto those cards, and frequently use the plastic, the amount you pay each month in interest has become a bill in itself- something that you do not need. Others are struggling, and slowly finding themselves starting to be overcome by the high interest rates on their cards. So, you ask, how can you get that low interest credit card? In fact, you have probably also noticed that the more money you owe- the more credit card applications you receive. You know those ads for more credit cards are always coming in the mail( your email, too) , and truthfully you re more than a little tired of it. Here are some steps you can take to get one of those low interest credit cards.

While getting all of those applications in the mail, it is best that you take a few minutes to carefully read between the lines before applying. Look At The Percentages. The promises may indicate a low introductory rate, often a gimmick used to get you to apply real quick- without reading the small print. Even if you do not have that 0% introductory offer, but the card has, an 8, say% interest level for the life of the card- this latter offer could be the better one. Card companies will give a 0% interest introductory offer, and then it may go sky high after the initial offer is over. Many cards, the so- called cheap credit cards, may offer you a 0% balance transfer, and possibly even a 0% interest for a specified period.

Look At The Conditions. After that period, if you do, though not have it paid off- it may be time to find another cheap credit card to transfer your new balance to. In general, it is true that it takes a good credit rating in order to get one of the low interest credit cards. Lately, some credit card companies have been raising the interest rates on credit cards for rather simple infractions. So, you may need to accept a little higher interest card than what you are hoping for, use it to get better credit, and then look for a low interest credit card after your credit improves. This could include anything from a single late payment, to paying your utility bills a day late.

Know what the top rate of the card may be. This is another matter to look into if you may be prone to make late payments. Look At Smaller Card Companies. But smaller companies, like Discover and American Express, make some really attractive offers in order to draw the new customers. The major cards, like Visa and Master Card, do not have to make such special offers- simply because they are the larger companies. Look At The Rewards. Of course, this type of card only has real value if you can benefit from the rewards.

Other cards, while possibly not being as low as some of the others, may offer you some good rewards. For instance, a card giving you free air miles is useless- if you never fly anywhere. Another option is a card with Cash Rewards program. While it may not lower your interest so much, the rewards could definitely save you in money elsewhere. Usually this is given if you pay off the credit card debt with each month s billing period. Look To Reduce Your Rates.

This is certainly an additional savings- even above the fact that no interest is charged. One thing that could be very helpful in you getting those low interest credit cards might be something real simple. This definitely is worth a try- whether you call them, or just write a letter asking about it. Through surveys, it has been found that about 51% of the people that just asked for lower rates from their current credit card companies got what they wanted.

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