Low APR Credit Cards – Simple Strategies To Increase Your Score And Lower Your Payments

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Credit is very powerful, as you know and used correctly, it can become an asset in your life. The advantages of good credit are that you have a low APR (effective annual rate). A low APR credit card can save you thousands of dollars in interest in one year.

So suppose your credit score is quite high, around 780. Creditors will charge you a lower interest rate than you would get if your credit score was only 575. What can you do to help you to get these cards at lower interest rates?

Use only 30% or less of your total balance. If you want your credit rating to skyrocket, try reducing the balance to only 10%. Carrying a lower balance means that you are more trustworthy, which encourages creditors to reward you with a lower interest rate.

If you use more than 30% of the balance, always pay more than the minimum monthly payment. I know it's common sense but paying more reduces the balance faster, which helps to increase your credit score.

It's really a simple circle. Understanding credit and learning to respect the rules will class you as a competent winner. By ignoring the basic rules, you will spend thousands of dollars more for the same items. Getting your credit together is without a doubt the first step to apply for and obtain low APR credit cards.

Then another very easy thing to do is to get a copy of your credit report. Make sure everything is accurate. If you encounter a gap or two, there is do it yourself credit repair letters that you can send to the credit bureau to investigate. If there are errors, you can delete them from your credit report.

The process of repairing your credit is just a process. We all want to get the highest score for all the benefits it offers. But we must also remember that things can take longer than we want. The key is simply to stay consistent by doing the things mentioned in this article. Consistency is boring, I admit. However, when it is about increasing your credit score, it is a discipline to adopt.

A low APR credit card is very desirable because of all the money you save in interest charges. Keep your balances low. This will show creditors that you are trustworthy. Always pay more than the minimum monthly payment. And maybe one of the best things to do is to fight the errors found in your credit report. As I said, boring, yes. But consistency is the key to success when you increase your credit score.


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