Credit cards are great inventions, as long as they are properly used. If you can obtain a credit card with a low interest rate, you can really use it to your advantage. Even though you may have been working with the same credit card company for a long time, it may be worthwhile to shop around with new companies to see if you can obtain a lower interest rate.
It’s not just Visa and Mastercard these days. There are so many credit card companies to choose from and so the competition is fierce. They have to offer all sorts of incentives in order to attract customers. With this kind of competition, you, as the consumer, are sure to find a credit card with a low interest rate. The rate you obtain will depend upon your credit rating. But you don’t know how each company will view your rating. If you have a few marks against your credit, you may still obtain a rate that is better than the one you have, if a credit card company is anxious to get your business. The only way to know is to ask.
Most people who have credit cards carry a monthly balance on their cards. If you do too, you will be much better off with a lower interest rate to save money. ...