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A Few Interesting Facts About Low Interest Credit Cards

If you are looking for credit cards for good credit or something that can make your finances easier, you’re in for a host of surprises. Do you know what the average interest rate on a credit card is these days?

If we look at the current market trends, the rate has never been higher. It was only last year when it stood at 15.18 percent which is almost two points lower than what we see now. For most of the credit cards out there the maximum recorded value of the interest rates has come to new highs. You will be shocked to know that the average maximum APR now is 24.45 % right now.



Do You Know Why You Get Charged Interest On Your Credit Card?

Any credit card user will be charged interest on their cards if and when they fail to pay the full balance from their previous billing cycle. This happens quite frequently with credit card users and they often see that their next credit card statement includes an interest charge for the amount that is still unpaid. Also, you might tend to forget in your eagerness to finding the right low intro credit cards that not all of your transactions come with a grace period. So if you think that you will be able to pay the due amount in full and avoid interest; that is not going to happen.

Can You Actually Negotiate To Get Lower Interest On Your Credit Card? 

Many of us are quite skeptical about it and have tried to get their interest rates lowered by doing this but does it actually work? Well, yes it can be done but you will need to make some effort for that. People typically follow two primary ways to lower their credit card's interest rate. You can either simply negotiate a lower rate or you can just transfer your balance to a lower rate card.

How To Go About Negotiating A Lower Rate For Your Credit Cards?

Believe it or not, you can get a low interest credit card but for that you will have to stick with the card you already have. Yes, by negotiating for a lower interest you can stand to gain a lot. This is always a better way to lower your interest but there is no way of running away from your credit balance. Opening a new credit card calls for an inquiry into your credit history and can reveal your credit score which can lead to higher interest rates again. Be mindful of each one of your steps.


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