How to Maintain a Low Interest Rate on Your Unsecured Credit Card

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How to Maintain a Low Interest Rate on Your
Unsecured Credit Card
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• In this post, well consider pointers you can use
  to continuously enjoy a low rate of interest on
  your unsecured card program.

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Keep up with your due dates.

• Always remember that delinquent cardholders are
  not only penalized with huge late payment
  penalties and surcharges. Most of them also have
  to settle for higher interest rates than what
  were originally imposed on their lines of credit.
• So, if you wish to maintain a low rate of
  interest on your credit card program, it would be
  best to stick to your payment schedule. Set up
  personal reminders and alerts in your mobile
  gadgets so that youll remember when your credit
  card bills are due. Better yet, you can sign up
  for automatic payment arrangements with your
  bank. After all, with such program, you wont
  have to worry about missing out or defaulting on
  your credit payments, ever again.

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Settle your unsecured credit card bills
completely.

• Paying just the minimum amount required by your
  card issuer and carrying balance from one month
  to the next will surely cause your interest
  charges to balloon out. And in time, your credit
  payments might eat up a significant percentage of
  your monthly budget.
• This means that if you wish to keep your monthly
  payments at a minimum, you should resolve to pay
  your credit card charges, not just on-time, but
  also in full.

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Always abide by the terms and conditions of your
card program.
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• Another reason why cardholders suffer from
  extremely high interest rates is because they
  committed serious violations against their credit
  agreements. For instance, they might have abused
  the cash advance facilities of their unsecured
  credit cards for bad credit, withdrawn huge sums
  of money using ATMs of banks and credit firms
  that are not affiliated with their card issuers
  or maxed out their lines of credit.
• Now, if you wish to keep your interest rate low,
  we suggest that you steer away from these poor
  credit habits. Instead, we encourage you to
  always comply with the stipulations of your
  contract. By doing so, you will not just enjoy a
  low interest rate on your unsecured credit card,
  for a long time. You can also avoid incurring
  pesky fines and penalties which might ruin your
  personal or household budget.

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Limit the credit card applications you submit.

• Keep in mind that your credit score drops each
  time your credit report gets pulled out in
  response to a credit application. And if your
  card issuer finds out about your low score,
  he/she might soon decide to increase the rate of
  interest imposed on your line of credit.
• So, if you wish to avoid this chain of events, it
  would be best to limit the credit card or loan
  applications you submit, especially when youre
  already managing unsecured credit cards for bad
  credit. Content yourself with what you have and
  resolve to sign up for additional lines of credit
  ONLY WHEN IT IS ABSOLUTELY NECESSARY.

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Watch out for errors in your billing statements
and in your annual credit report.

• Incorrect payment entries, outdated accounts, and
  fraudulent charges can also inflict damage on
  your credit history, pull down your score and
  cause your interest rates to rise.
• So make sure that your monthly billing statements
  and credit reports are free from these items. And
  in case you discover an error on your monthly
  bills as well as on the latest copies of your
  annual credit report, immediately dispute it by
  writing and sending credit dispute letters to the
  three major credit bureaus.

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