The holy grail of credit cards
We all rely on some sort of credit these days. Sure, there are some lucky folks who live in the black, but for most of us there are at least a few days or weeks out of each month when our overdrafts or credit cards are a lifesaver. Whether you use your credit card every day or once a week, low interest credit cards make life even easier still.
3 simple ways to get a low interest credit card
- Personal finance It isn’t beyond your control. Simple things like being registered to vote and having a landline telephone, along with a having demonstrating fiscal responsibility in the past all go a long way to getting a good credit score, which in turn helps when applying for low interest credit cards.
- Use your current credit card if you have one. It may sound silly, but it’s true. Be active in your credit card account and you’ll have a much better chance of qualifying for a balance transfer to a lower interest credit card in the future.
- Be patient If you have never applied for a credit card before, or you have missed repayments on a previous credit card or other type of credit such as a loan, then you probably won’t immediately be offered the lowest interest rate around. However, once you demonstrate that you are a great customer who makes all their repayments (at least the minimum repayment if it’s a credit card, and there’s no pressure to do more than that if you can’t afford to) then you’ll be in a better position to get a low interest credit card in the future.
Credit cards should always be used responsibly. The great thing is that when you do, that tricky time just before the end of the month is no longer a hassle and you can afford to do the things you want to do because you have a financial safety net.