| There are four factors that affect credit card | | | | imposing credit rates to its clients. They will even |
| interest rates. These are credit rating, | | | | have no second thoughts in lowering your interest |
| employment history, repayment history and debt | | | | rates if they find you a prompt payer in paying |
| to income ratio. Normally, interest rates are | | | | the minimum each month. It is not a hidden fact |
| connected with the prime rate. What is the prime | | | | that our times are experiencing economic |
| rate? Well, it is the common national rate standard | | | | problems that even huge companies are getting |
| given by the Federal Reserve Board. Your | | | | some wash from it. You can never blame these |
| interest is being calculated at the end of a billing | | | | companies for increasing the rates from time to |
| statement period. Such measure varies from one | | | | time. They are even forced to be stricter to new |
| holder to another. It is usually charged to you at | | | | credit card applicants these days. New applicants |
| the last day of the statement period. Your credit | | | | are carefully studied and reviewed before they |
| card's interest is definitely lower if you manage | | | | are being granted for a card. |
| your credit properly. | | | | You should know that credit card interest rates |
| Credit companies would look up into your credit | | | | are the key to manage your debt especially when |
| background in calculating your interest rates. | | | | you have a current balance on your card. Both |
| You're interest rates are sure to be increased if | | | | late and non-payments will lower your credit score |
| they happen to find that you're a late payer. But | | | | significantly. If you're having a hard time paying |
| there are instances where your rates are higher | | | | off your monthly minimum due then you might |
| even if you pay your bills promptly. Such manner | | | | want to seek help from a debt settlement |
| occurs maybe because of your low score that | | | | company. You can talk it over with your creditors |
| have been caused by unchangeable circumstances | | | | about lowering your rates. Most companies would |
| in the past few months. | | | | understand your sentiments. Keep in mind that |
| It is highly recommended to attend credit | | | | paying your balance in full is always the best |
| management seminars for you to know more | | | | option; but only if you can. Mostly, slow down on |
| about the true nature of how credit and debit | | | | your credit purchases especially if it's beyond |
| rates work. Most companies are lenient in | | | | necessary. |