Category: Financial

Finding Similarities Between Lenders and Life

All You Need to Know About Interest Rates

You ought to know more about interest rates and this is a major concern for most of the credit card holders. It is worth noting that a single credit card will attract different interest rates. Cash advances, balance transfers and purchases will all attract different interest rates and when you get a new line of credit, you still get a different rate. Shopping and comparing the different interest rates is vital if you are to get the best credit card interest rates. One thing about the credit card interest rates is that it also goes higher if the prime rates go high. The only rate that tends to be constant is the introductory rate which is usually 0{fee32140df6270268562df6d1905a2ee3cd70bb3d6b96d61feb57e38f4cd543b}.

The APR will depend on your credit score as an individual. The higher your score, the lesser risky you are to the credit company and this is why they will offer you with a lower interest rate. The interest rate will be given at the time of application for the card and this is why you must ensure that you have a good credit score. The interest rates can also go high for other …

Categories: Financial