The ironic thing is, the people who have the best chance of qualifying for credit cards with the lowest rates are the ones that probably won’t even use them! As a consumer with an excellent credit score myself, I admit I pay no attention to the interest rate offered by the card or the potential fees associated with it; I only compare the rewards that are offered and make sure there is no annual fee, as I pay off my balance each month in a timely fashion. By doing so, the interest rate charged on a potential monthly balance never applies to me; but for many people, it is a very crucial factor, and should be one of the primary considerations used while comparison shopping for the optimum credit card. Here are some tips for your shopping experience:

Do an online search. Google the phrase “low rate credit cards” and you’ll inevitably find a boatload of anxious websites wanting a referral fee for your click and online application. Don’t be hasty in selecting, however; just use this as one several research methods. Websites which provide tools to compare offers side-by-side are usually the easiest to use and most informative.

Open your “junkmail” from credit card companies. Frequently, existing cards that you hold and perhaps have not used in some time will offer incentives to “get you back” into active status or introduce you to a new card offer they are promoting.

Join a Credit Union. Credit unions may not offer as many incentives and rewards but will most likely have lower overall fees and rates.

Review Newspaper Inserts and Circulars. Be sure to read the fine print, and call the company direct to ask questions or clarify offer details, but this is a legitimate place to find special rate offers as well. When you call, be sure to ask if other offers are available.

Call Potential Credit Card Companies Directly. Do so after you’ve done your homework online and in print advertising though; it’s best to be informed so that you are in the best position to negotiate. Additionally, it is not unlikely that the credit card company employee that answers your call is not the brightest bulb in the string, so be prepared.

Call Existing Credit Card Companies Direct. If you have an existing card you’ve had for awhile you have a good payment track record you may be able to negotiate a better rate, particularly if you can reference a few competitor’s which are offering superior rates. Be diplomatic and point out you really want to continue using the card if the rate can be improved; ask to speak to a supervisor if the representative seems to be unable to make this sort of decision. Banks don’t tend to automatically lower rates once an account is in place; it may be up to you to initiate if you have met the card-issuer’s requirements.

Consider Affinity Credit Cards. If you have a membership in an association from work, a non-profit, or the ability to qualify for group discount (such as NAR, USAA, AARP, etc)

Use these tips to find a credit card offer that fits your needs. Be sure to do your homework and beware; some of the more attractive offers are strictly introductory and reset to less-than-optimum levels after a period of time. Be certain you read and understand completely before you sign on for any credit card application.

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