Get A Credit Card With A Low Interest Rate

By: David Riewe

Before you choose a credit card it would be wise to first find out the interest rates
offered by all the credit card companies and banks. While you compare credit card
companies and banks, take note of the ones with low interest rates and offer the best
benefits. Dont miss the fine print as that is where the most important information is
usually given. Fine prints almost always specify the conditions applied on using their
service.

It is generally a wise decision to go with a credit card that has a low interest rate. A
low interest rate would almost always mean that using the credit wouldnt eat up your
savings.

One of the strategies of many banks and credit card companies to attract members is
to offer an introductory low interest rate then hike up the rate after a certain period. It
is therefore advisable to inquire how long the initial low interest rate would last.

To switch to them, some credit card companies and banks would waive fees if you
transfer balances to them from your old card. The fees asked by banks for transfers are
actually interest rates in disguise. Make sure that a low fee, which is equivalent to a
low interest rate, is charged to you when transferring or you could end paying much
more than you actually have to for clearing your debt.

One thing you could do is pay for balance transfers through pre printed checks. Your
best option is to transfer balances to over the phone by calling up the customer service
line of the bank or company. Doing such would cost a lot less or nothing at all and
because you chose a card with a low interest rate you know your expenses would be
lower the next time.

It is al important for you to know that incentives such as short term low interest rate
will eventually rise even without due warning from your bank or credit card
company.

You could always ask the bank or company to give you a low interest rate provided
that you have a decent credit history with the company or bank. If they refuse to give
you a low interest rate then you can always switch to a service that offers you a better
deal.

Remember to use your credit card wisely. Keep a tab on your expenses while using
this card, ensure your dues are cleared regularly and ensure that the low interest rate
remain low.