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Summary: Find the best credit card rates by using Web sites that describe the introductory rate, annual fees and interest rates on various credit cards. Learn more about finding the best credit card rates with tips from the vice president of a bank in this free video on credit counseling.
Stephen Fawehinmi is the vice president of business banking at the Bank of Nashville in Nashville, Tenn. He has been a lender for more than 10 years. Fawehinmi graduated from Cal State...read more
"How to find the best credit card rates. Now, it's a loaded question, advice will be, there's so many different factors and things you want to look at other than just what the rate is on a credit card. There could be other items, such as, obviously, what's the current introductory rate and what will it change to once that introductory rate is finished. The other thing is what is the annual fees that you have to be paying on this credit card? Preferably, you want to find cards that have no annual fees on them because I think I've seen annual fees, even though they've dropped it a lot lately. I've seem them as low as fifty dollars but mostly seventy-five, a hundred to two hundred dollars, so those things may kind of negate the benefit you are getting on a lower rate so you may want to kind of look at that, in addition to what a lower rate would be. Find out again what other special features may be on those things, such as, rewards points, purchase perks and how you accumulate those things. Those, again, could offset what the interest rate is that you may be getting. One of the advice I will give you will be if you're trying to find what the lowest interest rate that you can find, will be to go on www.bankrate.com or maybe just go on Google and type in "How can I find the lowest bank rate out there for a credit card"? so that would maybe lead you as to how you can find those other than having to drive from one bank to another, that's not the most sufficient way, you have to take advantage of todays technology and I'm sure you will be able to find the lowest bank rate out there."
eHow Article: How to Find the Best Credit Card Rates
Meet Mark P Cussen, CFP, CMFC eHow's Personal Finance Expert.