How To Make Your Credit Card Work For You

Everybody seems to be just itching to get hold of a low interest credit
card. Who would not be? These low interest credit cards definitely offer a
lot of major advantages over normal credit cards. Aside from the low
interest, other fees like annual fees might also be waived.

Low interest credit card means you won't be paying more for a credit card
purchase. Since there are several low interest credit cards available in the
market, it'd be better to first understand how these interest rates work.

Some credit card companies might entice you to sign up for their credit card
by offering a low introductory interest rate.
This could even be as low as 0%. This rate could go on to up to a year. When
this introductory period is over though, you would have to pay the normal
interest rate, which in most cases is referred to the purchase APR.

Customers might find these low interest credit cards very much appealing.
True enough, these low interest offers could definitely help lower your
credit card debts. With these offers, consumers can just transfer balances
to whoever has the lowest interest rates. Fortunately for consumers, banks
are in stiff competitions with each other. Low or even 0% interest offers
can last to up to a year, in a bank's effort to keep the customer's
financial portfolio.

Not everyone might be able to avail of these low interest credit cards
though. Banks usually require that you have an excellent, or at least good
credit score. If you do, it is likely that banks would offer you lower
interest rates. Banks find it less risky to offer better deals to those who
are known to be able to payoff their debts.

Those who have a great credit have good chances to obtain interest rates
which are lower than a normal credit card. This could range from 9% to 15%.
So if you have a good credit card, you might want to shop around some more
first in looking for a better deal.

Having qualified for low interest credit cards, you'll surely get better
introductory offers. Usually, this could be delayed APR for up to a year. If
you have this card, you'd be able to payoff credit card balances at no
additional interests. This makes it highly profitable.

Low interest credit cards rarely come with annual or enrollment fees. Those
who have perfect credit are surely able to take advantage of all these
benefits. High interest credit cards with annual fees are usually intended
for high risk cardholders, specifically those with bad credit.

However, it should not be forgotten that banks are for-profit organizations.
Some low interest credit cards may come with a catch. Some companies might
require customers to spend a minimum amount on their credit cards or else,
additional fees might be imposed. Also, the moment your low interest rate
period is over, which you might not notice pass, the normal and exorbitant
interest rates would apply. These are just some of the ways banks earn to
compensate for their low interest rates.

Low interest credit cards could really work for you but before committing to
any card, be sure you have understood and read the fine prints. Usually, it
may stipulate additional fees or conditions. It is best to be familiar with
everything about the card first to be able to effectively weigh it against
other low interest credit cards offered in the market.

About The Author: Mario Churchill is a freelance author and has written over
200 articles on various subjects. For more information checkout
http://www.supercreditcardoffers.com and
http://credit-card-offersonline.info.