How to Get the Best Low Interest Credit Card Rates

Are you looking for a better credit card rate? Are you fed up with dealing with your high interest rate?

If you’re in debt right now, you likely feel like you’re stuck. You wake up every morning wishing that you didn’t have to deal with this stress. On top of thinking about how much money you owe, you’re worried about the additional interest rate. You feel like you can’t get out of this cycle because every time you put some money towards your debt barely anything changes thanks to the absurd interest rate.

This is like experiencing a hangover. You wake up feeling like crap so you eat junk food or sleep all day. Then you feel even worse!

When is it time to compare low interest credit card rates?

If you plan on carrying a balance or when you’re already in debt, it’s a good time to look for a better credit card interest rate. This includes when you plan to make a huge purchase in the near future and you can’t afford to pay in full (TV or vacation). You want to carry this debt with the lowest interest rate possible.

If you’re already in debt, the last thing you want to do is get hit with a 22% interest rate. This is when you need to start looking for a better rate immediately. A friend of mine actually did this over the summer. He didn’t know that he had options until he spoke to me about his debt.

How can you find the best introductory low interest credit card rates?

The obvious tip is to shop around. Most cards offer a low rate just to earn your patronage. They want your business so they’re willing to negotiate and work to get you to sign up with them.

Another tip to finding the best possible interest rate is to increase your credit score. You won’t qualify for the best low interest credit card rates when you have a poor history. Make your payments on time and pay down some of your debt to boost your score. A higher credit score will in turn help you obtain a lower rate on your next credit card.

Remember, though, that a low introductory rate is only temporary. You might only be at this rate for the first six months. So please keep the date in mind so that you don’t forget about your debt and then get hit with a high interest rate out of nowhere. A plan to pay down the debt before the end of the introductory period is your best bet.

A low interest credit card rate will help you with paying down your debt. This will allow you to get more aggressive with your debt so that you can get closer to becoming debt-free.

Image Courtesy of Adobe Stock