What Are the Ways to Obtain a Low Interest Rate on a Credit Card?

By Jeslyn Jessy

For people who have credit card debt, do you know that the interest rate and finance charges can drag you deeper and deeper into debt? You could end up facing the financial difficulties in long run. In order to avoid this, act fast to look for low interest rate credit card now! Here are some guidelines for your kind reference.

First thing first, you should start calling your banks or you credit card providers. Request from the officers in charge to convert your existing accounts to the lowest available rate. You will definitely stand a higher chance to obtain the best rate if your payment history is good and you have got an excellent credit rating. Furthermore, if you are their valuable customer, there is a higher possibility for you to negotiate a lower rate.

Next, if your banks can't satisfy your request, you can still search for those providers who can offer you the lower interest rates. You can always do balance transfer anytime in order to enjoy a lower repayment rate, especially during recession. You can do your searching through internet. Here are some useful websites recommended for you, such as bankrate.com, creditcards.com, lowcards.com, creditcardguide.com, and so on. You can even contact Visa or Master Card to enquire for the list of preferred issuers.

Thirdly, for those teachers, contractors, nurses or employees of certain companies, you may check if you are able to join a Credit Union. Credit unions are financial institutions recognized by the bank industry. They normally offer lower credit card interest rates to their members. You may consider joining this organization to enjoy a better interest rate.

Last but not the least, don't underestimate the effect of interest rate on your credit card. Even you have only managed to reduce 1% of your interest rate, you can eventually save a lot of money in the long run. Don't lose the opportunity to look for the best rate!

Everybody just hates getting landed with huge credit card debts in such an early age. If you feel that the credit card debt is so overwhelming and it affects your work performance, visit http://CreditCardDebtSolver.com for more constructive tips about credit card debt settlement.