Time to take financial control

The most important thing to know about your credit card is your interest rate. If you ever carry a balance on your credit card, or make late payments, a low interest credit card is the way to go for you.

Many credit card companies now offer really low interest rates for the first 6 months after you sign up. This introductory rate can even be zero percent! Visa and Mastercard both offer these great intro rates through different banks like Capital One, or Bank of America.

If you already have credit card debt, then it’s time you looked at getting a new credit card with a different carrier, and transferred your debt over to the low interest rate. If you continue to pay down that debt with regular payments while in your introductory rate, you can call the issuer (Visa or Mastercard) and ask to have your intro rate extended for another 6 months, and they’ll be glad to extend it for you (since you are now lower risk to them).

The zero percent intro rate expires if you are late making a payment, even if it’s in your first month, so pay on time!

Got a large credit card debt?

Talk to your bank, and they will often add your credit card debt to your mortgage and you’ll be saving lots of money. Mortgage rates are often one third of credit card interest rates. You may also have troubles getting a really low intro rate from another credit card company if they consider you too high a risk.

Low Interest