Have you got the best credit card with the best possible interest rate? If you nod yes, it’s better. If not so you may even need to see your kidney to pay off your credit card bills. Anyhow how you know you have the best credit card rates with you? Is it just because your company claims that? Here are some 4 simple tips through which you can uncover the truth about your credit card rates.
1. Make Timely Payments
One of the vital things to get and keep your low rate credit card to work best for you is making the timely payments for all your items specified on your monthly statement. Even if you make a single late payment in one of your credit card it will cause a domino effect. After a late payment you are going to see the raised interest not only in the particular credit card where you made a late payment. But also interest rates on your other credits cards will get jacked up.
Don’t get amazed of how these unrelated cards will act in this way. According to the credit cards act if you defaulted on one of your credit card typically your other credit card issuers have the rights to act like you are defaulted on their credit cards too. So the inters rates will be raised in others cards too. Here no wonder even if you possessed best low rate credit card rates before, chances are there for them to turn into worst credit card interest with some 20% or more.
So if you want to enjoy the bet credit card rates never make late payments. Try to give a first priority for your payment due.
2. You can get only if you ask
Often getting low rate credit card is not a very tough task. If you don’t think like your credit card company is not offering you the best rate credit cards you can place a request to them to decrease your credit card’s interest rate. If you are the one who is making timely payments and pay off your monthly due at a full definitely your credit card company will not be ready to lose you. So chances there are a high chance for you to get reduced interest rates.
If the person you are meeting first hesitates to take your request, approach the manager and showing your credit worthiness try to make him understand if your request is not processed you can get the credit cards with low interest rates anywhere else. But before that, check out top 10 credit cards with low interest rates so that you can speak to them confidently. If they can lower the rate as per their policies, definitely they will.
3. Balance Transfers
Even after the requisition if they refuse to reduce your interest rates “find out another best credit card rates offering company and transfer your credit card balances to the new card”. When your credit rating is up to par most of the companies are even happy to provide you new account.
Many companies offer 0% interest for balance transfers while some are posing 3%. Check it out whether the interest rate is 0% or some lower amount in only introductory period. Finding low rate credit card with fixed APR will be beneficial.
4. Don’t hesitate to pay low annual fees
If you have a good credit score then getting best credit card rates with no annual fee will be quite easy. But when you have a bad credit this task is bit harder. So if you find a lower interest credit card rates with affordable annual fee, better you go for it. Paying this annual fee is better than paying high interest rate on your overwhelming debts. If your card have high balances and low interest rate just imagine how ease it will be to pay off the debt.
You can check out top 10 credit cards who are offering low interest rate credit card for you. Many sites are providing this facility. Make use