How to get the best credit card rate

The best credit card rates are offered to customers who have a very good or excellent credit history. If you want to qualify for platinum credit cards and 0% interest cards, you may have to take steps to improve your credit score. Before submitting your application, it is advisable to make sure that your credit profile is a fit for that issuer.

Why do lenders offer the best credit card offers?

Lenders want to attract the best customers
Low APR credit cards and balance transfers 0% are only available to customers with excellent credit. They are often used as a way of luring the best customers from other financial institutions. In these difficult times, issuers only want customers who spend money and always pay their balance off punctually each month on their books. New versus existing customers
Although companies are beginning to see the merit in looking after their existing customer base, they are still primarily driven by greed. You are likely to find that you need to move your account to another bank to benefit from the best credit card rate. If you stay where you are, issuers have to do very little to keep you there as a customer.

How to get the best credit card rate

Settle the balance punctually at month end
It is essential that you always pay off your credit card debt within the designated grace period. When the lender reports to credit reference agencies, they report the fact that you have made your payment on time. Carefully target your credit applications
Before you apply for one of the best cash-back credit cards, it is essential to ensure that you are able to comply with the eligibility requirements. Each time that you apply for credit, a search is performed and this will be recorded for 24 months. Too many applications within a relatively short space of time will lead to a lower credit rating. Checks for mistakes in your credit report
You should order a free copy of your credit report each month and scrutinise it for mistakes. If any of the information is not correct, either query it or submit a request to get the problem corrected. It will help you to qualify for a free balance transfer deal. Reduce your personal debt
The less money that you owe on credit, the less financially exposed you will appear to the lender. If you have any savings, use them to reduce your debt. It will save you money on debt interest and will help to fix your credit rating.