With the low interest credit card, you will get an Annual Percentage Rate (APR) for the entire life period of the card. On the other hand, the balance transfer credit card will only attract and low interest for a certain period of time, from the moment you open your credit card account. Once the preliminary … Continue reading What’s the difference between a low interest rate credit card and a balance transfer credit card?

You may not necessarily close the other credit cards, but you should make the low interest credit card the main card. This is mainly due to the lower payments that you will have to make, reducing your financial obligation significantly. You should be careful with the purchasing habits when using the other credit cards.

If you usually carry a credit card balance every month, there a low interest card may be ideal. However, if you make full payments on your credit card balance, you may want to consider a rewards credit card.

The interest rates on credit card are based on the risk levels. Credit card companies will use the credit score to gauge the risk and set the interest rates. If you have a low credit score, you are considered to be a greater risk, due to credit mistakes from your past. With this in mind, … Continue reading Why is excellent credit necessary for a low interest rate credit card?