Every day, we are bombarded with advertisements and promotions about credit cards. There is one thing common in them – low interest rates. With a wide array of advertised low interest credit card to choose from, you cannot afford to settle for anything less. Before choosing the right card for your needs, it is important to know what a card should have to be considered low interest. It is also necessary to know how to apply and get approved for that particular card. Most importantly, you need to know how to handle your card to keep interest rates low at all times.

At this point, we have to define what a low interest credit card is. Actually, it is difficult to look for a specific definition because it changes from time to time. A few years ago, any rate which is below 9% was considered low. Now, it is 12% or lower. A low interest credit card must be, in the real sense of the word, low. Be careful of introductory rates which increase after a few months. Do not be enticed into signing up for a low interest card that comes with an annual fee. There are a lot of card companies that would be happy to waive annual fees.

For you to be eligible for a low interest credit card, you must have a good credit score. If your credit score goes below 680, most likely you will have a hard time. This might even make your already bad credit score, worse. Before applying for any card, it is best to take necessary steps to improve your credit score.

Let us assume that you have been approved and delivered a card through mail. Of course, one of the first things to do is activate your card to be able to use it. As exciting as this scenario can be, do not be in such a hurry to buy things. It might be difficult for you to pay-off debts in just a month’s time. This might adversely affect your credit score or rating, and most likely, the interest rate will no longer be low.

Now, how do you keep interest rates for your card low? Your credit standing or rating plays a very important role. This means that you must pay dues on time, without delay. Avoid carrying balances to for the next monthly billing statement. However, the least that you can do is to pay minimum payment on time. This is how you should handle your low interest credit card.

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