Finance Credit

How To Get Low Interest Credit Card To Manage Your Finance

Published at 01/21/2012 12:19:58

Why low interest credit cards

Credit card holders are always in search for cards with low interest rates due to the many advantages and benefits associated with these cards over others of their kind. A low interest credit card generally allows you the lowest interest rates possible for credit extended to you by the credit card company. Low credit cards offer you a low introductory APR rate whereas others guarantee you low fixed rate APR when using the cards. Various low interest credit cards are available such as American Express, visa cards as well as chase and Discover credit cards. To get a low interest credit card, it’s important that you compare the different interest rates being offered by these cards and make appropriate choices based on their introductory or regular APR rates. Despite the fact that a low interest credit card is cheap to operate with, it’s important to use credit wisely as it may be expensive to borrow when used unreasonably.

Step 1

How to get low interest credit cards

Acquiring low interest on your credit card can be very simple. If you maintain a credit account with a reputable card company, its time you called them and letting them know of your intentions of having low rates on your card. To achieve this, you need to have good credit payment history and longtime dealing relationship with the company. If your company is not willing to offer you a low interest credit card account, its time you made a search on interest rates offered by other companies. Different credit companies offer cards with low interest rates as a competition strategy. You may contact your local bank and other solicitators for a list of credit card companies. After selecting your favorite company, send a low credit application to them through fax, phone or internet application. Such credit companies should give you a feedback on your card request within a maximum of 10 working days. Incase of no response, kindly give them a call. Based on the company’s assessment of your low interest credit card application, you may either get a low credit card or be denied. Unless your credit history is very poor, you certainly might be lucky.

Balance transfer to low interest credit cards

You might also transfer your high interest credit debts to a low interest credit card and still enjoy low credits on cards that previously had high interest rates. This is possible after you apply for a card with a low interest rate and paying off balances on your old credit cards. Is essential to search and compare rates on offer by different companies using the internet.

Tips when applying for low interest rate credit cards

To obtain a low interest credit, you can try rolling your credit balances to different credit cards offering low introductory rates. Although you can still benefit on this low introductory rates, the main challenge is that this strategy may consume a lot of time and you need to have updated credit card records all the time to keep your credit balances on track. Also, trend carefully when embracing a low interest credit card as it may only be an introductory rate followed by higher regular charges. Make a good research on the different offers and always ensure that your credit balance is good.