It seems that many people think that all credit cards come with high interest rates. News broadcasts and financial websites show the stories of people telling their stories of how high the interest rates are on their cards. These stories represent what happens to about two percent of the population. Most of them broke the agreements set forth in their application by making late payments which put them in default. Since they broke the guidelines any introductory rates are taken away and the higher default rate sets in.
Getting a low interest credit card is easy to do. The companies that issue cards are begging for your business. Banks know that you will probably keep that card in your wallet for more than five years. If they need to give you a low apr credit cardfor the first year to make you a life long client then that is what they are going to do. Many companies have other financial products like car loans and mortgages that they will try to sell to you. Those products are where they make their money at.
It really is not that hard to find a low fixed rate credit card. Every company out there probably has over a dozen to choose from with different rewards programs to go with it. Since you will have this one for awhile you need to do your due diligence. If you cannot get approved on one particular card because of bad credit or even not enough credit just keep on trying. Somebody is more than willing to open a credit line for you. Even with poor credit you still might get offered a 0% rate. Make sure to make you’re payments on time or you will lose the introductory rate. It is really that simple.
Avoid listening to the news or websites that bash card companies. Most of those people carry high balances and have defaulted on their agreement. There is one way to not pay any interest at all which is always over looked. When you get your bill, pay the whole thing off. The bank can only charge you if there is a balance and without one the rate does not matter.