Tips to Keep Your Credit Card Interest Rate at 0%

Credit cards that offer zero rate or low interest rate are quite popular among consumers. After all, who doesn't want to enjoy a zero APR or a lower rate? Nevertheless, consumers need to remember that the introductory rate may only be applicable for a limited period. You may ask, is there a way for me to continue enjoying the low interest rate? The answer will depend on your chosen credit card company. Still, it is always worth the effort to make the request.

Listed below are tips to convince your issuer that you deserve to keep the 0% or low credit card rate:

Study carefully what the credit card really offers. Prior to signing up, be sure that you understand the date that the introductory rate expires as well as the exact cost of the regular APR. Familiarize yourself with the rest of the fees imposed by your credit card. All these charges are stipulated in Terms and Conditions page so take the extra time reviewing what the fine print says.

Apply for a new 0% interest credit card before the old one runs out. You may need to get a new credit card to continue enjoying the zero interest rate. This is an important step if you still have a remaining balance from the ones you transferred over to your 0%-APR card. Consider your options in advance so you can apply for a new zero-APR credit card before the introductory rate expires. As you well know, some zero rate credit cards may impose expensive rates on transferred balances once the introductory period ends.

Maintain good credit. Credit card issuers reserve their best rates and deals for customers who can present good credit history. Needless to say, a higher credit score will give you the edge when negotiating with creditors. Maintain your credit history in good or excellent standing by being prompt when submitting your payments. If you are a good credit cardholder, a credit card company would surely want to keep you on their side. In fact, you can request your credit card issuer for a low interest rate or to retain the zero APR by showing an impressive payment history.

Watch your credit card usage. Even if your credit card offers zero interest or a reasonable rate, you still need to use it with caution. If you must transfer balances, make it a point to complete your payments while the zero interest rate still applies. Avoid charging expenses or new purchases that can make it more difficult for you to catch up with your monthly payments.

Keep your credit line usage minimal. Stay away from the bad credit trap by being more conscious about your spending. If you find yourself struggling with your monthly bills, then don't wait until things get worse before taking positive action. If you have a credit card, use it only for important purchases and make it a goal to pay off your charges without incurring additional fees (interest rate, late penalty, or overdraft fee).