How to Cut Down Your Credit Card Interest Rates

Written on 3:19 PM by zorayda

If you’re a credit card holder, you should be interested in learning the tricks of cutting down your interest rates. Is it really possible to lower interest rates of your credit card? The answer is yes, if you know the right steps. Here are 5 practical steps to help you cut down those high credit card interest rates.

1.Review your credit card’s terms and conditions. Even if you’ve had that card for a long time, there may be some terms in your contract that you’re not aware of. Does the “universal default” clause apply to your credit card? If yes, your credit card company can increase your interests at any time without warning even if you’re on time in submitting your payments. All it takes is one late payment to any one of your creditors (not necessarily your credit card) and you could be paying more on your next credit card bill. Therefore, it’s important to understand every statement in your credit card agreement so you’ll know exactly how to handle your card.

2.Find out what other credit cards have to offer. Competition among credit card issuers is definitely a good thing. Check out what other credit cards have to offer and you may find one with a better deal. Of course, you’ll want to be careful about choosing and signing up for a new card. Aside from a low interest rate, make sure that the rest of the fees and terms are reasonable.

Continue reading: How to Cut Down Your Credit Card Interest Rates

Credit Card Resources:

• Credit Cards for Bad Credit
• Best Secured Credit Cards
• How To Get Credit Card even with Bad Credit
  

Posted in bad credit, credit cards interest rates, low interest |

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