Are you looking for the best credit card rate?
Do you know that there are millions of people in the world like you?
With the ongoing economic difficulties, numerous people worldwide are like you who are looking for the best credit card rate that can help them save.
However, the best rate is relative and may not be the best rate for everybody.
Why? You must understand that credit is not a “one-size-fits-all” kind of thing.
There are factors that will differentiate credit that you must know.
For example, if you and Bob will apply for a credit card; it is possible that Bob’s rate will not be the same as yours.
If you never had a late payment or missed a payment and Bob did a couple of times, you and Bob will qualify for different credit card rates.
Therefore, before you go out and look for the best card rate, examine your credit status.
If there are some negatives, you might probably settle for a higher rate than you expected.
Check Out Available Rates and Examine
If you want to get the best credit card rate, you must first know the available rates being offered by different card issuing companies.
Examine carefully the available rates to determine what works best for you.
The way to do this is to look at the terms and conditions of at least five different credit cards that you consider being good offers.
Compare and evaluate each offer.
Sometimes, zero-interest-rate and low-interest offers are misleading.
Don’t be lured by these rates, instead choose a fixed rate and not teaser rates.
Imagine what will happen to you if you get a teaser rate of 6.5% that rises to 26.5%?
Is the Best Credit Card Rate Forever?
We all know for a fact that nothing in this world lasts forever.
This is true with the best credit card rate that you have.
It is possible that you start out with a rate that works best for you.
However, terms and conditions may change that can make your card rate to increase.
One time increase within two years maybe good enough.
But if your card rate keeps on increasing once or twice a year, it is time to look for another card with a better rate.
Transfer your credit balance to a different card that offers the best rate.
However, don’t cancel your current account; leave it open and do not use it.
How to Get a Better Credit Card Rate
If you have been a good customer, never missed a payment and always paid on time; you may request to get a better credit deal.
Here’s how to get that better deal your new best credit card rate:
Prepare Proof of Good Credit Performance.
Before you talk to the bank and make your request, make sure that you are ready with your proof of being a good customer.
Even if you know that the bank will also have a copy and record of their own, gather your credit card statement of accounts or a credit report that shows you are a good payer.
If you have been with the bank for more than three years, it is a plus factor for you.
Make Your Pitch Ready.
Being calm and firm will give the impression that you know what you are asking for and honest about your request.
You can achieve this by preparing what you will say during the
Make short pointers on a piece of paper to serve as your guide.
Ask for the Supervisor.
When you are ready, call the bank and ask to speak to the supervisor.
Commonly, the person who answers from the customer service will say that they can assist.
However, it is best that you talk to a supervisor.
Make Your Request.
Remember that creditors are not obligated to change the ongoing terms and conditions of your credit card, so be very professional and don’t sound demanding.
Be honest with your request and give reasons why you need a reduced rate.
If the bank agrees to lower your APR, ask for an email or letter confirming the new rate and date when it will take effect.
If ever your request is denied, determine the reasons for the rejection and what you can do to make them change their decision in the future.
The Best Credit Card Rate for You
The best credit card rate for you is the rate that you best qualify for and not the rate for a perfect consumer, if ever one exists.
The best rate is the one that fits you well and offers preferable added features.
Remember that getting a low APR is not all there is.
It is only important if you are rolling balances over to the next payments.
Paying off your credit card debt in full is still the best practice.
This way, you will never pay any finance charges even how high the credit card rate is.