Everyone likes to feel as though they are getting the best possible deal and credit cards are certainly no exception. Comparing credit card interest rates in the digital age is relative easy due the smorgasboard of comparison websites allowing you to compare credit cards quickly and easily.
Here at instant approval credit cards we encourage an interest rate comparison by having the essential details of some of Australia’s best instant approval credit cards right there side by side.
Armed with the knowledge of the most competitive credit card interest rates around it is time to haggle with your current credit card providers. Credit card lenders are keen to keep existing customers, as it is far more expensive to acquire a new customers than retain an existing customer. Credit card lenders are often prepared to cut interest rates in order to keep their clients. It is often a good idea to speak with a manager who may have the authority to go above and beyond the accepted procedure in order to keep clients, and this often includes the cutting of interest rates to match the interest rates that are offered to new customers.
It can often be the case that there is an outstanding balance on a high interest card and unused credit on a lower interest card. Simply transferring the balance from the high interest credit card account to the lower interest credit card can save a considerable amount of money very quickly. There may be a balance transfer fee charged, but this is usually quite low and will be made up within a few months through the difference in the interest.
If your credit card provider can not come to the party by reducing your credit card interest rates it may be a good idea to shop around for credit cards with lower interest rates. Unless the card holder is looking to actively manage their credit cards or to pay off the credit cards very quickly the credit card holder should avoid low introductory rates and look for long term balance transfer rates.
Remember it is extremely important that the credit card consumer refrains from spending on these cards as the credit card lenders will charge a higher rate for new purchases until the credit card balance has been repaid in full, often these purchases accrue interest without interest free days as interest free days or grace periods generally only apply when there is no outstanding balance.
