When you are looking for a credit card, you should spend some time comparing all the cards offered by the market. Some authors say that buying a card is similar to ask for a mortgage or a personal loan. Dont buy the first that appears!!! Normally you want a small Annual Percentage Rate(APR), no fees, a high amount of credit line and (why not) some special offers or rewards.
Low Cost Cards
The most wanted credit card type is the low cost. This cards have a low APR or low interest introductory period. Some will give you special offers like a express machine when you buy the card. Others will give you rewards when you use the card in gas, hotels, airlines or travels.
What types of low cost cards are?
There are three types of low cost cards: the cards that during a introductory period have a low interest rate, the cards with low interest fixed rate and the cards with low interest variable rate.
The first low cost card's offer that you will find, is the one with low interest introductory period. Beware, this might be a false "low cost card", because when the introductory period ends, it becomes a normal card with high interests rates. Between the other two types, the card with low interest fixed rates is the most attractive, because you will be protected in case of a suddenly rising of interests rates.
Who can get one?
You need to have a good credit history and a respectable credit report. If you want the best card with low interest rates, you need to have a strong credit score.
Remember: "the lower the risk a consumer presents, the lower the interest rate will be".
Alternative ways
Some tips that may be useful:
Try to qualify to a low cost credit card in the bank that you normally use.
If your salary is credited on your bank account, it can be a advantage to you. You can use that to try to negotiate a reduction on your card interest rate.
Normally the banks love using cross selling and you can take advantage of that and buying different products in the same bank, this will reduce your interest rate.
Low cost credit cards are the best credit cards, but they are not available to all of us. You need to be a credit-worthy, a low risk person. The alternatives are: negotiate a lower interest rate with your bank or buying a package of bank products in the same place.
