Credit cards often are a great help if you have financial difficulties but sometimes, it backfires in the form of high interest rates. However, not all credit cards have high interest rates. In fact, more credit card companies today offer low interest rates. So if you are wondering where you can get low rate credit card offers, read on and find out.
Credit union credit cards
Credit union credit cards are perfect if you are looking for low rate credit card offers. According to recent studies, credit union cards have significantly lower interest rates as compared to bank-issued cards. This is because credit unions are not-for-profit. Meaning, they do not have to increase interest rates to increase their revenue because they do not have to generate gains at all.
So if you are in the search for a low interest rate credit card, consider getting a credit union credit card. It provides the same purchasing power that bank issued cards provide but with less costly interest charges.
Introductory rate credit card offers
Despite having the reputation of giving high interest rates, bank-issued cards actually have great things to offer as well. For instance, many credit card companies have introductory low rate credit card offers and some even have 0% interest rate offers. So if you think that the only less costly cards available are credit union cards, then you are wrong.
However, introductory rates are only available for a limited period. For instance, 0% interest is usually only applicable during the first six to eighteen months of credit card use. Nevertheless, it is still a helpful way to save on interest charges despite having it for a while. So if you wish to get another credit card, make sure to find great deals on introductory rates.
Build a good credit score
Aside from credit union cards and introductory rates, you can also get low rate credit card offers from any card issuer by simply having a good credit score. Okay, maybe it is not that simple as most people only have average credit scores. However, there are things you can do to enhance your credit score.
For instance, if you have bad credit, you can gradually improve your credit score by slowly paying off all your debt. After doing so, see to it that you never miss a payment and are always on time, you will see the difference it makes on your credit score. If it is not possible to do this, then consider getting a card, which can help you boost your credit such as prepaid credit cards. They can help you build credit because you will not have to pay bills, thus, eliminating late payments and debt as well.
Interest charges are the most costly thing about credit cards but there are also low rate credit card offers nowadays such as 0% APR cards and credit union cards that can help you save money. Then again, the most important thing you have to remember is that interest rates do not matter at all if you simply pay your credit card bills in full every month.
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