Low interest rates on a credit card is something we all want! The ability to pay off your credit card debt sooner, increases with each drop in the interest rate of your card.
My name is James Cameron, and I am a consumer credit expert. This article is only a sample of my favourite credit card market info, for my best secrets and tips, you need to visit my full article here -> low interest credit cards.
Reality is, a lower rate for you means better things? Why would you not want one? You might have heard that they can cost you alot more long term? I’ll show you a little more about them, that you might have never known.
I recently held a job in one of Australias top banks, in the credit card divisions, not to mention I have worked for over 8 years in personal finance. My secrets and tips will save you money! It certainly has benefitted my friends and me.
Some creditc ard banks will get your business by signing you upto a card by offering ‘sweet’ deals with periods of low interest or even 0% interest. As an example, you might see advertised, the 0% credit cards that target students, or first time card holders.
Why would they do this? Well, card providers earn the least in interest in the first year you have your card, because they know from years of statistics that card holders spend less in the first 12 months…
After around a year, credit card users are not so worried about swiping the card and racking up debts that the banks and card providers love…
Ideally, this is not the best situation for you, because after the low rate period is up, you might be tied down to a bigger than normal rate!
Another thing to be aware of, is that when you go over your limit on a low rate card, you can expect much higher fees and penalties than on a normal credit card. I can let you know which ones are the worst too!
These are not the only aspects to watch, as your bank or your credit card company knows much more about the way you spend and borrow than you might believe…particularly when you bank with your card provider!
Above is only a sample of my favourite credit card saving info, for my best secrets and tips, you need to visit my full article here -> low interest credit cards.