Such A Credit Card Is Not Particularly Hard To Find

If you' re going to carry a balance on your credit cards, one of the most important factors is how low an interest rate you can get.

It is very much so worth some time comparing rates and fees. The lower the rate, the easier it will be to pay off your debts. The simplest factor to consider is the annual percentage rate you are likely to be charged. Most offers will note that the best rate is reserved for the best credit. However, the actual rate you get may vary from the original quote in many cases, if your credit score is not sufficient. However, we' ll assume for the moment that your credit is adequate to get something more or less along the lines of what is offered. But there can be more to finding the best credit card rates than just looking at the APR.

You' re not the sort to tell yourself that you have good credit when in fact it's a mess. You also have to consider what you need the card for. Are there balance transfer fees? For example, if you are going to transfer a balance over from another card, what is that going to cost you? What's the APR on balance transfers? A lot of cards will offer a 0% APR for perhaps 12 months on balance transfers.

How long does that last? Such a credit card is not particularly hard to find. This can be a bad deal if the new interest rate goes too high after the introductory period and you haven' t made much progress in paying off that transfer. You still need to consider what that balance transfer will cost you after the initial APR wears off. On the other hand, if it lets you make rapid progress toward paying off old balances, it can be a great deal. Annual fees are rarely worth it. You should also check for fees.

They' re more likely to eat up the difference in interest rates, and if you quit carrying a balance, they keep costing you money. Call your current credit card company and just ask for a better rate. If you' re already carrying a balance, a balance transfer is not the only way you can get a better rate. If you have a good credit score you' re likely to get it, especially if you make your willingness to go to another company clear. Always be aware of what a credit card is costing you. It only takes a short time to call and ask. This will help you to know when it's time to talk to them and get your rates fixed or to change credit card companies.