With financings getting very tight these days, my hubby is now looking at our credit cards in order to find a better interest rate. We seem to have fallen into the same trap that others have fallen into with high credit card debt. One of the places online that we have found that has a very good website to compare credit cards is comparecards.com.
Some of our credit cards have an interest-rate over 20%. It used to be credit card companies would fight to get your business and offer you a great deal. Then if you did not read the fine print, you got caught in one of those cards that the default rate was extremely high. It's kind of a bait and switch type situation which the credit card companies have gotten away with for many years. Now that some people that come into financial troubles in today's economy, the default rates on their credit cards is getting very high and it’s getting very hard to find a low interest credit card unless you have very perfect credit.
With the website comparecars.com, we have been able to look at the credit cards that we have; and apply and receive a credit card or two with a much lower interest rate. We always have been very good at keeping our bills up, but with today's economy, even we are having trouble keeping our bills on time. With the availability of these low interest credit cards we can transfer some of our high interest credit cards and enjoy a lower interest rate which will enable us to pay off our bills sooner.
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