Some Tips In Lowering Credit Card Interest

March 12, 2020
By

If you are a credit card holder, you have the option to revolve a balance on a monthly basis however, once you do, you will pay the interest rate for your purchases. This is basically how Credit Card Company earns their profit. A credit card’s annual percentage rate or APR is what determines how much interest you will pay for the balances of each of your purchases.

As you are well aware of, signing up for a new credit card may be easy especially if they are offering that zero interest rate for like six months. But then again, if you are not careful in keeping your account current, you may suffer consequences. Furthermore, you should realize that not all people can simply call and ask the credit card company to lower down his or her interest rate.

Lowering Credit Card Interest

Most credit card companies nowadays utilize systems which determine if you are eligible for an APR reduction. This system is often incorporated with the customers’ credit and payment history. The main idea here is that customers who have a good credit history and or under special circumstances may qualify for a rate reduction. On the other hand, if you are not qualified, it does not mean that you are no longer qualified for it forever.

There are still ways to become eligible for it such as being diligent when it comes to your balances. Though your credit card allows you to revolve a balance, you may want to opt for paying all the charges that you put through your credit card. You can also surf the internet for online deals that may provide you a better way of paying your balances. Checking your monthly statements in your mailbox or online email is also a good habit to develop. This will at least let you know if you need to make a payment anytime soon. If in case you find yourself unable to pay your complete balance due to unforeseen circumstances then you may call the credit card company and ask for alternatives.

Tags:

4 Responses to Some Tips In Lowering Credit Card Interest

  1. michi on March 20, 2020 at 6:09 am

    i really hate interest so i always pay my due on or before due date. first time to hear about APR reduction.

    • Admin on March 23, 2020 at 12:34 pm

      I think that’s one of the reasons why I don’t have credit cards with me. :)

  2. Mich of Mich Eats and Shops on March 20, 2020 at 1:46 pm

    Ugh, I should settle on my credit card balance then!!! Hahah Grabe problem is im so magastos :-s

    • Admin on March 23, 2020 at 12:35 pm

      You can do it Mich! :)

Leave a Reply

Your email address will not be published. Required fields are marked *

*