It's a fact that the credit rating is often taken into consideration in almost any part of someone's personal life. Credit rating is important whether you guy a house or get insurance. You can save money when you maintain good credit because you can get lower rates on your car or home loan. If you maintain good credit rating, you can be qualified for a low interest rate credit card.
Depending on the financial institution, majority of new credit card offers today will give you 0% APR introductory period which can extend from 6-15 months. If you normally carry a balance on your credit card, in the short term this 0% APR can save you money, that's true. But how did you get the lowest interest rate credit card once the introductory period is over?
If you're looking at new credit cards, you need to look past the 0% introductory offer. There is a range of interest rates the issuer considers. You can save a lot of additional money over the years if you have good credit and qualify for a low interest credit card.
Low interest rate credit card has a lot of advantage for people whose credit card normally has a balance. If you want to pay down your debt without interest, you can use your new credit card that has 0% APR introductory period and transfer the balance from your higher interest rate cards. You will have a low interest rate credit card once when the special 0% offer expires.
It has probably taken you a few years to accumulate that good credit rating by budgeting and keeping within you financial means. But occasionally life throws us a curve ball and we can fall behind with our bills. If this happens, the financial institution reserves the right to raise that interest rate.
Keep in mind though, that the financial institutions are run by people just like you and me. If you're once again in good standing with the issuer and things have straightened out, then you can call and they can reinstate the lower interest rate. Your business is valued by these people.
Depending on the financial institution, majority of new credit card offers today will give you 0% APR introductory period which can extend from 6-15 months. If you normally carry a balance on your credit card, in the short term this 0% APR can save you money, that's true. But how did you get the lowest interest rate credit card once the introductory period is over?
If you're looking at new credit cards, you need to look past the 0% introductory offer. There is a range of interest rates the issuer considers. You can save a lot of additional money over the years if you have good credit and qualify for a low interest credit card.
Low interest rate credit card has a lot of advantage for people whose credit card normally has a balance. If you want to pay down your debt without interest, you can use your new credit card that has 0% APR introductory period and transfer the balance from your higher interest rate cards. You will have a low interest rate credit card once when the special 0% offer expires.
It has probably taken you a few years to accumulate that good credit rating by budgeting and keeping within you financial means. But occasionally life throws us a curve ball and we can fall behind with our bills. If this happens, the financial institution reserves the right to raise that interest rate.
Keep in mind though, that the financial institutions are run by people just like you and me. If you're once again in good standing with the issuer and things have straightened out, then you can call and they can reinstate the lower interest rate. Your business is valued by these people.
About the Author:
At Turnkey Loans you can be quickly authorized for a loan meeting your specific needs. Click turnkeyloans.com to research credit cards and manage your money.
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