Save Money with Low Interest Rate Credit Cards
When money is tight, credit cards offer the convenience of being able to make that much needed purchase now and pay later. They also give you the option to make payments over time until the original purchase is paid off. This convenience does come with a catch; you will have to pay a percentage more in addition to the original purchase price. This percentage is dictated by the interest rate terms set in your credit card agreement.
The fact of the matter is, if you have a high interest rate and choose to pay for your purchase over time you could end up paying twice or even more than the original purchase price. By using low interest credit cards you can lower the extra amount you would have to pay for that must have purchase you made. The lower your interest rate the less you have to pay back to the credit card company and the more money you get to keep in your pocket.
While low interest rate credit cards are ideal for anyone using credit cards, not everyone will qualify for a low interest rate. Credit card companies use low interest rates to reward people who have taken good care of their credit by paying their bills on time. This does not mean that someone with good or fair credit will not qualify for low interest cards eventually but typically they are initially only offered to those with excellent credit.
The credit card companies have complete control over what they offer as interest rates. You may find that one company may offer a lower rate than another company. You may even see that while two companies may offer you the same rates, one may stand out by offering you rewards and incentives for using their card.