How to Get Low interest Rates for Unsecured Credit Cards

Who doesn’t want Low interest rates for unsecured credit cards? Low interest rates make sure that you won’t have to pay too much money from the amount you borrowed should you be unable to pay during or before the bill cutoff. Unsecured credit cards, or unsecured credit lines, are basically credit lines which does not use a collateral. This means that the bank won’t have any legal capacity to repossess your property should you be unable to meet the terms of your debt. However, non-payment can certainly affect your credit standing, so it is still important to try to get low interest rates for unsecured credit cards. Here’s how you can do it.

Shop for the right card

Do you think you will be missing a payment or two to your credit card? Of course, this is something you should keep to yourself especially if you are applying for one right now. However, it only makes sense to get the lowest APR possible if you are shopping for a credit card right now. Initial low interest rates for unsecured credit cards can be an assurance that if the company needs to raise your APR for bad credit standing, the raise won’t be that high.


Pay on time

Some banks can actually give you low interest rates for unsecured credit cards if they notice that you have good financial habits. A primary sign of this is when you can pay at least the minimum fee on time. If you make early payments, and if you can pay in full, they can reward you with even lower rates, or perhaps a higher credit limit. Some banks also repay their good customers in kind with free milage or goodies which they think you might enjoy.

Have good credit standing

Watch out for your credit score if you want to get low interest rates on unsecured credit cards. This means you should not only watch how you use and pay for one particular credit card, but closely monitor how you spend using other credit cards and loans as well. Are you borrowing too much? Are you spending on things that you know you cannot afford? While maxing out your credit line can be tempting, it can backfire. For every late or non-payment, banks can penalize you by raising your interest rates or lowering your credit limit. They can also make it hard for you to get loans even from other financial institutions.

Don’t max out your card

Most banks give you low interest rates for unsecured credit cards when they see that you limit your use of the credit card. This doesn’t mean that you should keep your credit card dormant. You shouldn’t because that can have its own set of bad consequences. You should use it but be mindful of how you use it. Ideally, you should not use your credit card impulsively for things you cannot pay for in cash. If you are using your credit card to earn points, then make sure you have actual income to pay for it on its due date. If you are using your credit card for something you literally cannot afford at the moment, just make sure you can at least pay the minimum amount on the due date.
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