 TITLE: Tips For Finding the Best Low Interest Credit Card CONTENT: ###### Written by: Kristy Welsh\n_Last Updated: July 25, 2017_\nAre you paying more than 20 percent interest on your current credit card? If your current credit card has a high interest rate, you might want to consider looking for a new one with a lower interest rate. If you have a good credit score, it's likely that you receive offers for low interest rate credit cards all the time. There is no reason to keep paying a high interest rate when you can get a better deal simply by making a telephone call or filling out a online application form. But, before you rush out and apply for that credit card, we have some tips for you so you will get the best low interest credit card deal.\nReview Your Financial Situation\n-------------------------------\nOf course, it's important to make sure you understand the implications of your actions before you open a new credit card account. Promise yourself that you will destroy the old credit card as soon as the new one arrives. Keeping both cards increases the likelihood that you'll start buying items that you can't afford. The last thing you want to do is find yourself slipping further into debt when your original intention was to find a way to save money on credit card interest.\nRead the Fine Print\n-------------------\nBefore you switch from your current credit card to a new account with a lower interest rate, make sure you understand the details of the cardholder agreement. Some companies offer very low introductory interest rates to woo new customers, only to increase them after just a few months. Make sure you aren't going to find yourself with a higher interest rate than you already have a short period of time after opening your new account.\nIt's also important to make sure you understand any other charges that might apply to the account. For example, see how the new credit card you are considering stacks up against your existing account in terms of late fees, over the limit charges, and rewards programs. Doing this will help you fully understand whether or not the new account will result in an actual cash savings for you in the long run.\nAs a general rule of thumb, it's important to remind yourself that any credit card offer that seems to good to be true at first glance probably is one that you should avoid. It's likely that if you delve into the fine print, you'll find some terms and conditions that could make your head spin.\nShop Around for the Best Credit Card\n------------------------------------\nYou don't have to accept the first low interest credit card offer that crosses your path. Don't lose sight of the fact that you are the customer. You have every right to shop around for the best possible deal. It's well within your rights to request information about several different card programs so that you can make a fair comparison of the relative merits of each one.\nYou can even call your current credit card company and ask for an interest rate reduction. If the lender wants to keep your business and knows you are shopping around, you might be surprised to find that you don't even have to open a new account to get a better deal.\nApply For a Card that Suits Your Spending Needs\n-----------------------------------------------\nThere are a lot of credit cards that offer low interest rates along with other perks like reward points or cash back. While rewards and cash back all sounds good at first, make sure to read all the fine print regarding restrictions or limitations of these perks. For instance, that credit card with airline reward points — can you only fly at off times and are seats limited? Are you flexible in your travel where you can use this because if not, these rewards will not do you any good. Same for cash back - do you have to buy certain items to get the cash back or is for any purchases. Make sure the rewards will benefit your lifestyle or there is really no reason to get this type of card.\nLow interest cards are also good for someone who frequently carries a balance on their account. If you do keep a balance, and you may more than the minimum due each month, a low interest rate will definitely save you loads of money in interest payments. Make sure this low rate applies if you do a balance transfer. That way you get rid of those other high rate cards and start saving some money. END