Interest rates are a cause of concern for many savvy spenders and there are things that one ought to know about them. It is worth noting that a single credit card will attract different interest rates. You will still get a different rate when you get a new line of credit as well as all the purchases, cash advances and balance transfers. Therefore, it is always advisable that you shop for the best interest rates before you choose a credit card. One thing about the credit card interest rates is that it also goes higher if the prime rates go high. For most of the lenders, the only rate that does not fluctuate is the introductory rate at 0%.
The APR will depend on your credit score as an individual. The reason why the lender will offer you with better rates is because you are perceived to be lesser risky to the lender if you have a higher credit score. Before getting the card, ensure that you have worked on your credit score because the interest rate will be given at the time of application. There are a number of reasons that can drive your interest rates high for example if you become more delinquent. You will find that they will increase the rates on your existing balances.However, you have the option of refusing the Emetropolitan Interest Rates by closing that line of credit.
Paying the balances in full is what the lender will require once you cancel the credit card and if you continue, the higher interest rates apply. One of the things that people are unaware of is to negotiate the interest rates by simply calling the bank and asking for it to get reduced. For you to successfully do this, there are tips that you could use. If you start negotiating for lower interest rates after the 60 days, chances are that they will not get cut because you need to be prompt with these complaints.
You need to record all the times you have communicated with the lender. The people that you are asking help from must be treated with utmost respect, keep calm at all time and be polite. The government can help you with your complaint if you try to be civil to no avail. If you have a good credit score and you are perceived likely to pay off the debt quickly, you will most probably get an introductory balance transfer. If you are lucky and find a good lender, they will give you a deal up to 2 years and this will save you a lot of money. Before choosing the best credit card, it is advisable that you thoroughly compare the options that you have. For some more related discussions, visit http://en.wikipedia.org/wiki/Payday_loan.