When discussing money low usually isn't a good thing, unless you're talking about interest rates! Everyone loves low APR credit cards because low rates essentially mean less money out of the pocket! So why doesn't everyone just get a low interest credit card? Well for starters, you need a good credit history (those with bad credit histories are usually regulated to credit cards for people with poor credit) and you need to have some initiative. Credit card rates won't just drop by themselves; they'll need a little bit of prodding! Most people don't realize the power of asking for what they want! It has never hurt to ask for a better interest rateMost people will say they feel too pushy if you ask why they don't simply call their credit card company and ask flat out for a lower APR credit card. This is why most people are stuck paying hundreds in interest charges alone! Asking your credit card company or lender for a better rate and a good credit card can work, but you'll need some leverage to work off of. Your main leverage will have to be your credit score/ history. With a good credit score and history the doors are practically wide open for you to get whatever kind of deal you want! So how can you find out what your leverage is? Contact one of the credit bureaus in your area and ask for a copy of your credit report. Your report will show you in detail how the bureau came up with your score and what your current accounts are. If you see any discrepancies then you should report them; otherwise you can use your report as a leverage tool when you call your lender. You can also do this before you apply for credit cards because the better your score the better chance you have at getting a good credit card. In essence, you can know which cards you qualify for before applying for credit cards online! Change it up with a new credit card!If you call your credit card company and they are just dead-set against giving you a better deal then there is absolutely nothing wrong with shopping around a little bit. Sure it's a lot better to stay with one credit card for a long period of time; it won't hurt you to make an occasional change! Search for credit cards online because often, the best deals will be there. Credit cards with instant approval and credit cards with no annual fees will be found online as well. If you do decide to make the change to a new card account, make sure that you close the account on your old card! This is important because it acts as a safety device against identity theft and it keeps your credit score high. A lot of open credit accounts is bad for your history! Retail store card - I don't think so!Even though it is from your favorite clothing outlet store, the credit card application that is in your hand should be thrown out immediately! Most of the top retailers have their own brand of credit card, run through VISA or MasterCard. These cards work in a similar fashion as regular credit cards except they come with discounts to the store of your choice! Oh, and they usually come with a huge interest rate! The discount you can live with the interest rate you can't! It also may be difficult to find a store credit card that is a no annual fee credit card! You're usually just better off without the card! Credit cards can be a pretty tough place for a consumer without knowledge. It is wise to read up on how your creditors think and what recommendations they have for you. If you want to get a low APR credit card then there is no reason why you can't have it- as long as you follow the guidelines above! Don't fall behind financially because of interest, keep in good standing!
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