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5 Hints for Reaching Worthier Credit Card APRs and Fees

[Wednesday, June 19th, 2019]

Each of us aims to save as much as possible. But sometimes credit card fees and APRs may be so terribly enormous that all your payments disappear covering them, and you can’t even start paying the very debt. Our AcclaimVisa.com specialists prepared 5 tips to help you get lower credit card APRs and fees.

  1. Compare Different Offers
    First of all, stay up to date. Find out which cards match your credit and then compare these cards’ APRs and fees. This can help you estimate the current situation and see whether you deserve better rates.
  2. Ask Your Issuer for a Lower APR/Fee
    A CompareCards survey with 1,000 respondents revealed that 81% of cardholders asking their credit card issuers to decrease an APR succeed having a reduction of about 6% on the average. And 91% of those applying for an annual fee removal got it cancelled or lowered. The statistics are quite encouraging. So, if your account is in good standing, you definitely shouldn’t be afraid to make these simple requests.
  3. Work on Your Creditworthiness
    If you are not new to the credit issue, you must have come across some credit cards that only indicate starting and ending APR or/and fee limits, not a stable number. This means that the issuer will decide which APRs or/and fees to approve you for after reviewing your credit report. Therefore, work on improving your credit score and watch APRs and fees melting before your eyes.
  4. Do Not Miss Intro 0% Offers
    Issuers often offer introductory periods during which cardholders are not charged APRs. The length of these periods may vary from 6 to 18 months. The same applies to an annual fee. It is often waived first year so that you could get used to your credit card. Moreover, there are a lot of no annual fee credit cards.
  5. Consider a Balance Transfer
    If you find a credit card with better terms that suits your credit, you may think over a balance transfer. Nice thing is that you can consolidate debt from several cards at once on this card (provided that your new card credit limit is enough). Just use our Credit Card Balance Transfer Calculator to find out what you will gain from transferring your current balance onto that new card.

In conclusion, always remember that all your attempts to lower your credit card APRs and fees may turn out to be useless if you regularly miss payments. So, simply don’t carry a balance. For example, you can forget about APR for purchases forever if always paying your balance in full by the due date. In this case, creditors will not charge you a purchase APR at all.

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