Simple Ways to Lower Credit Card Interest Rate


Credit Card does have some benefits when it comes to our daily life but unfortunately they carry a high interest rate. What if I tell you that there are some ways that exist for you to lower the interest rate? Continue reading this article in order to get some tips on how you can save money on your credit card by lowering the interest rate.

Just ask

This method seems so simple that people simply overlook it. Sometimes itís just a phone call that you will have to make and you may be on your way to securing a lower interest rate. Just make sure that you call a representative of your current credit card company and ask them if you can have a lower interest rate. You will be amaze at the result. Very often the representative will like to have you stay with the company and may provide you are a lower interest rate as an incentive.

Seek another company

The world of credit card is very competitive and there is always a new company popping up. If you shop around you are sure to find a company that will provide you with a lower interest rate and in turn allow you to make some savings. Before transferring your credit, just make sure that you read the fine print particularly pertaining to transfer fees and annual fees. Sometimes the interest rates may appear low but there are some other costs that are involved.

Keep a good credit score

Indeed if you are interested in a lower interest rate, it is important that you strive to keep a good credit score. Having a good score will result in more companies accepting your request for a lower interest rate. So, as much as possible try to pay those bills on time and ask if you can get an increase in your credit limit. This will improve your debt-to-credit ratio which in turns will cause an improvement in your credit score.

Stay informed

This is probably the most important tip. It is important that you stay informed about the current interest rate by credit card companies especially when it comes to your credit score. This will help you determine whether you have an appropriate interest rate or you are being ripped off. There are various websites that will provide you with this information and you will need to spend some time to carry out your research.


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