Step 1 Choose the right card: A simple way to get the best credit card rates is to choose a card that fits your financial profile. That means figuring out if you'll immediately pay the card off or if you'll need it to carry debt over time, as well as comparing APR, annual fees, balance transfer costs, credit limits and rewards options between cards.
Step 2 Get prepared: Spot-check your credit report to ensure that you're getting the best credit card rates possible; this includes everything from the spelling of your name to the accounts you have. This will not only ensure that the terms correspond with your spending history, you will also catch identity theft immediately.
Step 3 Stay below the limit: Sttay below the limit, spend wisely and pay on time, or you could wind up with tighter card restrictions simply by spending a larger percentage of your credit limit. The amount of debt you carry versus the amount you're allowed to borrow (debt utilization ratio) is one of the prime factors for determining the best credit card rates and borrowing terms.
To qualify for the best rates and terms and avoid credit repercussions spread out your debt among multiple cards, keep track of charged expenses and cut down on spending.
Step 4 Keep the issuer informed: If you are already strapped with low limits and high interest rates, bargain for the best credit card rates, especially if your financial position has improved in the past few years.
A simple call to your bank may be all it takes or call consumer credit counseling for help.
Disclaimer Legal Information Is Not Legal Advice This site provides information about the law designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice -- the application of law to an individual's specific circumstances. Although we go to great lengths to make sure our information is accurate and useful, we recommend you consult a lawyer if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.
Consumer Credit Counseling Information, Debt Management Plan Information, Debt Settlement Plan information, Credit Counseling, Credit Score, Consumer Credit Counseling Service, CCCS, Bill Consolidation, Credit Repair, and Debt Consolidation is not advice, and we recommend you consult a licensed credit counseling agency, debt settlement attorney, and/or licensed debt management plan administrator in your state if you want professional assurance that our information, and your interpretation of it, is appropriate to your particular situation.
