Low Interest Credit Cards

Low Interest Credit Cards

I have two high-interest credit card balances that are hovering right near my credit limits (a little over $ 15000 total) that comprise the vast majority of my debt. I'd love to get ... In any case, lenders know that today's record low interest rates ... When loan isn't an option, work on cutting card debt

 

Low interest credit cards are one of the more popular types of cards because you can save a significant amount of money in both the short and long term. Most companies offer a low interest credit card in addition to their other more advanced cards. These cards are also valuable tools to help rebuild a bad credit score, which helps you get loans and other financial aid. You can also use them to leverage a larger credit card debt, which is also helpful to repair a bad credit score. Consider the cost and benefits of the low interest credit cards offered, and be sure to compare your options before making a choice.

With any credit card it’s relatively easy to lose sight of what you’re spending because, initially, it’s not coming out of your pocket. You must remember that you do have to pay for your purchases eventually. Low interest cards can help somewhat if you accidentally spend more than you’d be able to pay back normally simply because of the way they work. Going over your credit limit is extremely bad, and you should never let it happen because it can end up in your interest rate rising dramatically or your card being revoked.

When applying for a credit card of any type it is important to think about what you’re going to use it for, and whether or not you can keep up with the payments. It’s also very important to keep a handle on your spending, and many card internet sites have tools to monitor purchases. The key to using credit cards is simply being careful, and aware of your spending. Lots of people don’t realize how much they use their card until they come home to a large bill and wonder how it got there. Applying for any credit card affects your credit score, and usage and maintenance affect your score still more. It’s important to not inadvertently shut yourself out of loan opportunities that you may need to get a new house or car.

 

Related Low Interest Credit Cards Issues

Question by xcom923: Who has the best low interest and high limit credit card? I have a credit score of 695 and I'm looking for a high limit yet low interest credit card. My first one was from my bank so I don't know much about getting one. Please tell me what you think Best answer for Who has the best low interest and high limit credit card?:

Answer by MIchael R
it all depends on what the banks want to give you, do you want to pay a annual fee, how much do you need, dont get too much thats not good, it looks bad if you have mor than you can afford

Answer by answermonkey
That's not a bad credit score to have. Try out CitiBank and Chase cards. Both can give you reasonably high limit and oth offer the cards that have 0% APR for 12 months or so. It would be even better if you're registered as a business owner, a proprietor, or LLC manager. Then you can apply for a variety of business credit cards, which generally carry the same perks, but larger credit limits.

Answer by Netta
Check out Bankrate.com, they list all that information. Just be cautious how many places you chose to apply. Multiple applications will lower your credit score. So chose 2-3 and work with those.

Answer by mom2babycolin
Whatever you do, don't get a Chase card. They have terrible customer service and violate their own user agreements. We got informed there was going to be a rate hike of 11 points, making it no longer our lowest-rate card, but our highest. So when we requested a reason within 60 days, like the new agreement said, they told us to check our credit report and allow them to access it. So we did. Then they sent us another copy of the very same notification of the change of terms and said in their letter that we claimed not to have received it. So we've written to them again, as it states, asking for the reason why, within 60 days from getting this new one and haven't heard from them. It's been a month. This has been going on for nearly 6 months now, and there's nothing we can do about how much the interest rate is now. We put our wedding on that card because it had the lowest rate, at 5.99% (not promotional, I've had it for two years now). Now it's the highest rate, 16.99% and our minimum payments have doubled. It will now take us 6 years to pay off our wedding instead of 4. There has been no change to our credit score or status aside from getting married, but both of us had excellent credit before this and no other card we've had has done this to us. In fact, one went DOWN on the interest rate, so we've used that one to transfer balances from the others. On top of that, it's been a year, and after calling and writing letters, they've FINALLY changed my last name on the card and sent me a new one, even though they sent us two cards with the correct names on them when the old one expired. WTF? Now I have two identical cards. I called them and they said my maiden name had been changed on the account just recently, and they don't know how/why it was changed on the card prior to that. I told her I thought it was because I had called to change my name repeatedly and it was a result of my request for the name change on the account, and I was in absolute awe during the interest rate fiasco that they continued to call me by my maiden name. She only replied that they do a lot of mergers and sometimes things get lost in the technology switchovers. Anyway, we decided not to close the account because they're going to want all the balance right away, which we can't pay, so once we CAN pay it off we're closing the account and never doing business with them again. I'm telling all my friends and family and everyone here to stay the hell away from Chase!

Answer by David H
With a 695 score I would suggest BECU. They offer credit cards as low as 6.9 % based on credit scores. Credit union Visas are consistently reliable and steady. Too many card companies are not user friendly, and you'll only find this out when an issue occurs. The only bank I have had consistently good service with is HBCS Card Services. I don't know what they offer in high limit, low interest cards.

Answer by Bob
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