Low Interest Credit Card Tips

We should all acknowledge the fact that the 0%-interest rate imposed on many credit cards today doesn’t last. Credit CardsOnce the teaser or introductory period ends, you should expect the interest rate to suddenly rise and the fees applied to your transactions to re-appear.

This is the main reason why you should never evaluate a credit card offer based on the introductory features alone. Instead, you should pay close attention to what’s in store for credit card applicants, like you, beyond the teaser period. To succeed in this matter, we suggest you seriously consider the following fees and charges:

Annual Fee.

The annual fee is what you are required to pay every year to activate your card. Some credit cards require a low $15 annual fee to a high of $100 per year. Usually, credit cards with reward programs impose higher annual fees to make up for the incentives they give. The best low interest credit card you can get is one that has no annual fee so you won’t have to worry about a yearly payment at all. If you have a credit card with a high annual fee don’t despair. If you call your credit card company and ask them to remove the fee, many of them will. If they won’t, I’ve found that acting like I will transfer my balances elsewhere often motivates them to remove the charge. This only works if you are a good payer and tends to work only once.

Minimum Finance Charge.

This is the minimum payment you need to submit at the end of your billing cycle regardless of how much your balance is. Some credit card holders pay only the minimum each month but doing so puts you at risk of mounting credit card debts and interest rates. The best way to manage your credit card balance is to pay it in full, or to pay as much as possible. If you must carry over a balance, pay more than the minimum so you can get out from under your debt as soon as possible.

Balance Transfer Fees.

If you’re going to use your credit card for transferring your high rate credit card balances, check out the balance transfer fees. Usually, the balance transfer fee will depend on the amount you are going to transfer. Although the interest rate is zero, you may be charged a considerable fee every time you make a transfer.

Late Payment Fee.

Obviously, you will be charged with this fee if you delay with your payment. Credit cards with zero interest offer are particularly very strict about payment dues. You can get charged with an expensive late penalty fee and even get disqualified from zero interest offer if you made a single late payment.

Credit Limit Fee.

This is your penalty is you exceed you’re allowed credit limit. Naturally, you want to avoid exceeding your credit line altogether not only to avoid this fee, but also to protect your credit history and credit score.

International Transactions.

If you travel a lot, you need to be aware of the conversion fees on your credit card. You may be surprised at how much you can be charged from transaction fees alone if you use your credit card in other countries. These fees can also apply when you use your credit card for shopping online and the merchant’s processor is located outside of the US so watch out!

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

3 Comments
  1. Hello to all

    Well I am trying to clean up my credit by trying to get a personal loan and the problen with that is my credit, so I am really frustrated and it feels like I am just going around in circles. Any one know of any places that are willing to help some one in my situation.

  2. Well I’m looking forward for this how its possible that we get low interest credit cards because I’ve many credit cards from different company and also I paid highly interest on that while withdrawing cash from it. So anyone can give me some suggestions that how can I save my hard earned money. That would be more grateful.
    ======================================
    robert
    Credit Card Debt

  3. Thanks for all the information,I find it really helpful. Sometimes people ignore banking apparently small details and afterwards those details prove themselves very important. I hope I am not one of those people so I am asking you what do I have to do in order to benefit from no fee balance transfers?

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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NHBS Inc © 2022

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

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