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How to Obtain a Low Interest Card Offer
By Adam Goldman
Everybody wants a low interest credit card but not many can actually qualify for it. It's a fact that you need is to have an excellent credit rating in order to qualify for a low interest card. This is as card providers have to be first convinced that you can handle your finances well enough before letting you benefit from low interest rates.
Therefore, the secret towards getting a low APR card offer is to have an excellent credit history. This means that you settle your balances on the dot, and not accumulate your debt or snowball it from last year's Christmas to this year's Hanukkah. Users with good credit histories are also the types who will check on their credit reports regularly for any mistakes or misprints. It is essential that these issues are looked into earlier as late payments and snowballing debt as well as bankruptcies can stay in your credit report for up to a decade. This will greatly mar your chances of acquiring a low APR credit card.
Essentially, there are two ways of acquiring a low interest card. The first is to ask for a reduction on your current card's interest rate. If you handle your credit well and always pay on time, the credit card company will have no reason to turn down your request. However, if they do turn you down, do not fret. There are plenty of low APR cards which are offered by competing credit card companies.
With these cards, the APR can go as low as 0% for a short introductory period of up to a year. This means that you won't be charged any interests on your outstanding amount as long as you pay off the minimum charges each month. With this, you are beyond the danger of getting yourself into a pile of snowballing debt at least for a year.
However, once the introductory APR period is over, you will have to brace yourself for a big jump in the APR rate, which is the norm for many credit card companies. Also, some credit card companies may give you the impression that the APR they are offering are the lowest possible. Nevertheless, if you are on the lookout for low interest cards, they should be within the range of 6% - 8%.
About the Author
Adam Goldman recommends Find Credit Cards if you're looking for a low interest card offer. See http://www.findcreditcards.org/type/low-interest.php for more information.
Article Source: http://www.simplysearch4it.com/article/26086.html
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