Low Interest Credit Cards – Bad Or Good

Low interest credit cards are those that come with low annual percentage rates. Most of the time the better your credit score the lower your interest rates. If you tend to keep a balance on your credit card than a low interest choice can save you a lot of money over time. Normally these low interest cards will have an introductory rate in which there is no interest.

There are also steps you can take to see about lowering the interest rate son your current credit card. Each credit card company have low interest rates but do not give them to many people. If you have an excellent payment history and have been with the company for many years than you can.

If they refuse to lower your interest rates then they are required to provide you written reasons why they will not lower the interest rate. The interest rate is how companies make money so they will be resistant.

Another option for a great credit card is a low fixed interest. These types of cards normally will not have an introductory period but your interest rate is fixed and will not change. This type of card can be the best in the long run. If you do out the savings you will find that you keep a lot more money in the bank with a fixed interest rate than with a 0% interest rate for 6 months.

You can also try to see about lowering the interest rate on your current credit cards. It is important that you have a good history with your credit card company and always make your payments on time. You should call up the card company and see if they can give you the lowest rates available.

Some of the best cards are those that have an introductory period of 0% interest for up to a year. Other cards will offer this but only for a few months. There are other cards that do not have this introductory period but will provide a low fixed interest rate. Make sure you understand the changes of the interest rate for each card. Many people get a nasty shock when the introductory period is over.

Also be wary of the low interest balance transfer. If you make too many balance transfers and keep applying for new cards then this can negatively affect your credit.

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