Drug testing

How To Get a Low Interest Credit Card

Consumers often have the first credit card that they ever applied for, never really analizing how the interest rate affects their payments, but many other options exist and can help consumers decrease their payments and achieve financial stability.

With interest rates on some credit cards rising to over 23%, even low balance credit card debt can be crippling. One of the first research elements a prospective borrower should look at is the interest rate on transferred debt. This interest rate is often lower than the usual interest rate for the credit card, and can be an especially good deal for borrowers who have debt already. Another element to consider is the interest rate on new purchases ? this rate will be the main concern in the years to come, as this new credit card will probably become the most heavily used. Borrowers often worry about annual fees, but these are often temporary. Getting a credit card with low interest rates will save a borrower significant sums, usually much more than the annual fee. Plus, once good credit is established, the annual fee may later be waived.

Another interest rate will usually apply, as well ? the rate for cash advances. Cash advances are usually limited to a couple hundred dollars, but credit card companies often insist that when paying back the balance, the credit portion must be paid back first, then the portion that the cash advance applies to. So if you are going to keep a balance on your credit card, be aware that cash advance interest rates are higher than the regular interest rates. Cash advances can be incredibly helpful in emergencies, though, when a credit card cannot be used.

Visa and MasterCard are by far the most commonly accepted credit cards, so less commonly used cards such as American Express and Discover often offer special rates for new customers. These rates are worth attention, even if you think that you may not be able to use the card as easily as your previous credit cards, because transferring the balance to these new cards to obtain the lower interest rate may significantly lower your payments. While your AmEx or Discover Card may not be accepted as often, they can be a good tool to achieving your financial goals.

Even less commonly used are credit cards that are store specific, such as gas cards or department store cards, but these cards can offer incredible deals on interest rates. They rely on the fact that consumers will often switch their spending patterns to the new gas station or store, and this increased revenue makes up for the lower interest rates. A slight change in your habits, such as consistently using the new credit card at the new gas station, can lower payments and improve credit scores.

Researching new credit cards can seem daunting, but by comparing the four main factors, which are the regular interest rate, the rate on transferred balance, the rate on cash advances, and the annual fee, you can reduce your credit card payments significantly.

The author runs the finance website http://www.pawninfo.com about short-term loans and payday loans, and any or all of this article may be reproduced in any form as long as there is a link to the website. Pawn Shops and Short Term Loans

limousine chicago service
In The News:

Credit Cards: What is the Universal Default Clause?

Most people who carry major credit cards are well aware... Read More

Beware of Falling Minimum Payments

If you opened a credit card statement recently and were... Read More

Low Interest Credit Cards Have Many Advantages

When credit cards are used wisely they can be very... Read More

Like It Or Not, You Have A Score To Settle! Part 1

Just when most people finish with school and can stop... Read More

Credit Card Security Advice

Which of the following is the biggest threat to your... Read More

Identity Theft ? Guard Your Childrens Social Security Numbers

Identity theft is a growing concern among Americans, and rates... Read More

Have You Checked Your Permanent Record Lately?

As a young student I feared getting bad grades because... Read More

Credit Card Is Adding The Silver Lining To Your Pocket

In the new millennium plastic money or credit cards has... Read More

0% Credit Cards

These days, credit cards in the UK are competing with... Read More

Is Your Credit Score Being Held Against You?

Credit Scores That HurtIs your credit score being held against... Read More

The Best Strategy To Erase Credit Card Debt

Credit card debt is a growing sickness in the United... Read More

Understanding the Function of Credit

What is Credit?Credit is the backbone and the engine behind... Read More

Do You Know Whats On Your Credit Report ?

It is important to know your credit rating for a... Read More

Are You The Only One Using Your Name?

Identity theft has become an epidemic. Millions and millions of... Read More

Rewards Cards - Are They Right For You?

Rewards cards have become the latest rage in the credit... Read More

Small Business Credit Cards

So what do you look for when applying for a... Read More

Credit Cards - The Basics

How Lenders Operate ? And How They'll Make a Tidy... Read More

Credit Worthiness

Credit Worthiness is an important business and personal asset each... Read More

Credit Cards - Why Prepay?

With prepaid credit cards, you get the practicality of plastic... Read More

Warning: Free Credit Report Imposter Websites Springing Up on the Web

A recent amendment to the federal Fair Credit Reporting Act... Read More

Debit Card vs. Credit Card, What Are The Differences ?

Ah, the "good old days". If you are a baby... Read More

Recognizing the Signs that You Might Need Credit Counseling

Most families in America today have a credit card; some... Read More

What Does Your Credit Say About You?

A credit report is more than just a snapshot of... Read More

Which Credit Bureau Should I Use To Check My Credit Report?

There are three main credit bureaus in the United States;... Read More

Finance - Money, Money

Finance is a big word for some of us. It's... Read More

street light installation induction cobra head Pete's produce ..