What are the Ways and Means to Lower My Credit Card Interest Rate?
Why use credit card?
A credit card is nothing but a loan that is offered by a bank to a customer and the only difference is that it is in the form of plastic money rather than dollar notes. Any customer who uses his credit card for various purchases or drawing money from ATM's will be required to pay the loan amount and the interest rates correctly in order to maintain a good credit history. But most of the credit card users are trying ways and means of finding out the various options by which they can lower their credit card interest rates. If you are also looking for possible answers to this question, then you have landed at the perfect place that will help you out in knowing the methods through which you can lower your credit card interest rates.
Good credit card rating
It is important for you to repay your minimum amount due and if possible some amount more than the minimum amount due in order to be in the good books of the credit card companies. If you have missed paying the amount due to the credit card company for more than one time, then you are not doing any good to improve your credit rating. Once the company is satisfied with the fact that you have a good credit rating and that you are repaying your dues on or before the stipulated time, the company might consider your request of lowering your credit card interest rate. Most of the credit card companies will consider your request for lowering the credit card interest rate due to the fear of loosing a perfectly repaying customer.
Comparison with other banks and balance transfer
It is always better to compare the interest rates charged by other credit card companies with the credit card interest rate of your bank or credit card company and if you find that the interest rates are lower in other credit card companies, you are the liberty of questioning your credit card company of the reasons for this high rate of interest and can also negotiate with the company to offer you interest rates at par with other companies or even a lower interest rate. If this is not working out, then you always have the option of transferring your credit card balance to 0% interest credit card Company that will not charge with annual or joining fees. But make sure that you clear all the balance dues to the bank before the expiry period of the card or else the renewal rates will be very high.
Whatever be the option that you choose to lower your credit card interest rate, it is important for you to make sure that you pay the minimum amount due to the credit card company within the allotted time and this will help you in maintaining the same credit card interest rate at all times. It is Important for you to analyze the options that are available in front of you to choose the best one that will help in lowering the credit card interest rates on your card.
Tyler - About Author:
www.interest.net is the best online source to look for interest rates for savings and interest on savings account, click on the link to know more about company's services and special offers.
Published by Alesia Ace on June 30th 2012 | Loans
Published by Karen Rase on July 3rd 2012 | Loans
Published by Haben Sahkyo on April 16th 2012 | Loans
Published by David King on January 5th 2012 | Loans
Published by Astor Roy on November 26th 2011 | Loans
Published by Rex Moshe on December 12th 2011 | Loans
Published by Aldenn James on July 4th 2012 | Loans
Published by Rex Moshe on July 6th 2012 | Loans
Published by Jelsan Smith on May 14th 2012 | Loans
Published by Daren Rely on June 23rd 2012 | Loans
Published by Aldis Roy on June 25th 2012 | Loans
Published by James Blee on April 17th 2012 | Finance
Published by Astor Roy on June 20th 2012 | Loans
Published by Narten Jonner on July 1st 2012 | Loans
Published by Addison Maddy on June 16th 2012 | Loans
Published by Jaren Lese on June 5th 2012 | Loans
Published by Riyt Leson on June 22nd 2012 | Loans
Published by Peter Paul on December 15th 2011 | Finance
Published by Thomas Symends on July 17th 2012 | Loans
Published by Kelin Smith on December 6th 2011 | Loans