Low Interest Credit Cards
|
|
If you are in shopping for a new credit card, make sure that you apply for a low interest credit card. Low interest credit cards are good because you end up paying less money to the credit card companies, thus allowing you to save. There are many types of low interest credit cards. Visa, Master card, American Express, Discover card, all have low interest credit cards.
Before you choose your low interest credit card, you must be aware of a few things. Always read the agreement before accepting the card. Here are a few things you should watch for when applying for a low interest credit card.
Be aware of the length of the promotion. There are many credit card companies that offer zero percent credit cards. These credit cards are very low interest cards but they almost always have a deadline. Some low interest credit cards last for 6 months, some even a year. Make sure that you know how long yours last.
Make sure you know the interest rate of your low interest credit card after the promotion expires. Some interest rates go as high as 23% after the promotional period.
Make sure that you do not make any late payment on the low interest credit card. Being late just once usually cancels the promotion and spikes the rates as high as 23%. Sometime the credit card companies also check your credit report to make sure that you pay your other cards on time. Make sure that you pay your other cards on time or else your low interest rate credit card will default and you will be stuck with high rates.
Posted by jonathan on September 22, 2005 at 05:26 PM