Interest rate is one of the first-to-take-into-consideration credit card features when it comes to choosing a credit card. The two basic types of interest rate you can have on your plastic are fixed rate and variable rate.
A variable rate means that your interest can vary due to the Federal Reserve’s moves, changes on the credit card market or whenever your lender finds it appropriate. Here is how variable rate is calculated. The Fed sets the prime rate, which becomes a basic component of your interest that cannot be changed by a creditor. Then a credit card issuer adds a certain percentage to it, having checked or credit score and credit history. As a result you get, say, the prime rate … (more) August 13, 2008

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You know that people with good and excellent credit are eligible for the best credit card deals with low interests and great rewards. While customers with a credit that needs some improvement or those with no credit sometimes have to bend over backwards to qualify for a credit card with a decent interest rate and a moderate annual fee.
This is fair to some extent. No doubt that people with good credit history didn’t get it like manna from heaven. They have worked hard to build a strong credit. And the banks’ policy is also quite clear. They prefer to deal with loyal, prosperous and creditworthy customers with good credit. Such clients roll in lenders’ good graces.
As for bad or no … (more) May 21, 2008

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In one of my previous articles titled Transforming Extra Calories into Extra Money on Your Credit Card I apparently paid no due attention to a traditional and perhaps the most effective method of clearing your credit card debt – using a balance transfer credit card. Customers who manage their credit with balance transfer services are called rate tarts and their main object is to find a low interest credit card to move the outstanding balance on.
Irrespective of the credit score, a customer is  eligible for a balance transfer plastic, but mind a certain unfailing regularity - the lower your rating, the more expensive the deal will be for you.However, a balance transfer credit card is always a good tool for you … (more) April 22, 2008

Posted in Balance Transfer, Low Interest, Money Saving Tips 1 Comment »

Do you know what an interest rate or an APR is? Of course, you do. But can you enumerate all types of APR? And tell what is the best rate for you? The lowest one, you say? Absolutely agree. But let’s get more precise about interest rates types. If you ask why I need it, I know that there are low interest credit cards with favorable rates, and those for bad credit with sky-high interest, and I am after low APR plastics, I will tell you the reason. There is much more to the interest rate than just low and high APR.
The Types of Interest Rate
I’ll remind you once again that the APR (annual percentage rate) is just the same … (more) April 15, 2008

Posted in Choosing Cards, Low Interest 2 Comments »

This year, according to financial forecasts, is going to be a rough one. Some of credit card interest rates can jump to 30% or even higher. Even if you are a good credit owner you cannot be 100% safe from possible interest rate soar. Even your most beneficial cash back credit card will not make it up for the losses you might incur. Unfortunately, you will not be able to prevent this from happening, but if the financial experts’ predictions turn out to be true, you, at least, will be in the know.
Having learned about this, I did some simple math, and the total amount of money I would owe my creditors nearly made my eyes pop out of my … (more) January 28, 2008

Posted in Credit Card Advice, Low Interest 3 Comments »

People with good or excellent credit have a broader range of credit card offers to choose from. And the deals they can qualify for usually come with better terms and more favorable features than card offers that bad, fair or no credit owners are eligible for. So, if you are a lucky credit card holder with good or excellent credit rating, you are welcome to get crème de la crème of the credit card market.
Though good credit gives you more opportunities to get the best credit card for you that will perfectly fit your demands, you often face the product-mix problem. The variety of plastics is so wide that it is extremely easy to get lost in the jungle of … (more) January 15, 2008

Posted in Choosing Cards, Low Interest 2 Comments »