Q:

What are some tips for finding low interest credit card deals?

A:

Quick Answer

Consumers with high credit scores receive the best low-interest credit card deals, according to CreditInfoCenter. However, before applying for new credit card deals with low interest rates, consumers should review their current financial situation and how it affects their actions.

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What are some tips for finding low interest credit card deals?
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Full Answer

Many credit cards offer low interest rates with deals, such as cash back and reward points, explains CreditInfoCenter. However, consumers who currently own credit cards can ask their company for interest rate reductions or perks offered by competitors. Consumers who carry balances do not need to accept the first low-interest credit card they find. Instead, they should shop around since it is within their rights to request information on several credit card programs.

One tip is for consumers to check their credit scores and determine if the scores are excellent or good, states Wells Fargo. Consumers with strong credit scores rated excellent or good can negotiate lower interest rates with credit card companies. Researching the current interest rates offered by other credit card companies provides leverage to consumers negotiating new rates with their current lenders. Consumers can also compare income requirements, annual fees and late payment policies with other companies to their lenders and negotiate lower interest rates based on what those companies offer their customers.

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