How to Compare Low Interest Credit Card Offers: #3
Credit card only makes sense if you optimize it properly, use it smartly. Low interest credit card also only makes sense if you will manage your debts properly. Yes, in my previous posts of this “Low Interest Credit Card” series, I said, if you want to carry balance occasionally and serious about to manage your debt then low interest is the perfect choice. In this part i will say, how you can get (compare) best low interest credit card from lot of commercial offers.
I swear, you may already received lot of offers by mail or facing enticing offers over internet. Now you may either confuse or don’t understanding which one is the best deal. Right? Okay, in this situation i believe it will be easier if you know what do you actually want.
You want low rates to negotiate your debt. So you have to consider interest rate, balance transfer rate as first priority; charges, fines and fees as second priority and others like reward as third (less) priority.
Debt Free Life
Look Below Before Applying Low Interest Credit Card:
- 0% (Zero) Offers: Lenders are now offering zero (0) percent on interest rate or balance transfer or both. If you are serious to negotiate your debt then it will also be a good opportunity for your journey. Unfortunately maximum of these are promotional offers and after promo period most issuer have charged high interest. It will make sense when its rate lower then the traditional offer after promotional period. So compare all offers manually and figure out which company offering lowest rates. More lower more better.
- Interest Rate: If fail to figure out 0 percent offers then you have to look on traditional offers. In market there are two types of Interest Rate offers available; fixed and variable. If fixed, look what is its rate (less then 10% is ideal) or if variable then figure out actually when or how your rates could change. You will find it on fine print. For your kind information, by federal law lender could change your fixed rate with only few days notice!
- Balance Transfer Fee: Eventually you will want to manage your credit cards debt. Here transfer your balances to low interest credit card is a good idea. But it will make no sense if balance transfer fee is so high. 3% or less is standard.
- Other Charges and Fines: Now you look what is its charges something like annual fee, late fee, finance charge etc. I usually refuse to pay annual fee! Compare which company offering lowest.
- Rewards: As I said earlier reward, guarantee, point are less important in your search.
Conclusion:Now i am finalizing my story. When I look for a low interest card, I always try to find out deeper information and figure out information to compare offers. Here interest rates, balance transfer & fees are more important then others. Best of luck, hope you will be successful.
Previous part: Low Interest Credit Card is Now Worthless!
Next part: Top 7 Basic FAQs About Low Interest Credit Card
Back to: Low Interest Rate Credit Card Series.
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