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Credit Card article of the month

Minimum Repayments - When it comes to wise credit card management, avoiding minimum repayments must stay at the top of your priority list, and there is a reason why should consider this approach to your personal finances.

Reduce Interest Rate Tips

There are several ways to reduce interest rates on your credit cards.

1 - Call your credit card company - Yup - just ask for a rate reduction!

Some tips:

  • Ask them to an "interest rate match" (similar to price matches that retailers do). Do your research first though, and actually find one that is cheaper than your current deal!
  • Tell them that you would like a cheaper rate but you don't want to have to leave their company. You are worth a lot more as a customer to them than to their competitors, and they will often do a lot to keep you - including reducing your rate!

2 - Transfer to a Balance Transfer Card - this one is pretty simple and very effective in reducing your rate if you have a debt - just transfer your debt to another card with a low interest rate




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All tips are followed at your own risk and should be followed up with your own research. Nothing on this site constitutes as financial advice.