I have a high balance credit card with a high interest rate. Where would be the best place place to look for a lower interest rate and/or apr?

Answered on August 04, 2010
Updated on August 04, 2010
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
First of all try to negotiate a lower interest rate with the bank you currently have your credit card at. If you cannot get a lower APR with them, shop around for 0% balance transfer credit cards. Visit our Balance Transfer Cards page. Just keep in mind that these applications require good or excellent credit history. Best cards for balance transfers are offers with 0% APR for the introductory period. You can get 0% interest rate for 6 or 12 months, depending on a particular card, or sometimes even for 18 months. Keep in mind balance transfer fees, they are usually 3-4% of the transferred balance. Do not forget to compare other features – annual fee, Purchases APR, rewards, etc. Use credit card calculator to decide what credit card is best for you and will help you save money.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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BROWSE MORE QUESTIONS ABOUT Balance Transfer Cards:

When you first face credit card issues, some phenomena can come as a bit of a shock. For example, balance transfers may seem unintelligible, but in fact they are quite easy to understand. You have a balance on card A and then you transfer it onto card B. Cards for balance transfers usually have low intro rate offers on balance transfers, so for the first time you may have even a 0% APR offer. That will allow you to pay off some or all of your balance with little interest and save quite a lot. So that is quite an option. Note that balance transfer cards with attractive low rate intro offers...
Unfortunately, you won't be able to transfer the balance of one Wells Fargo credit card to another Wells Fargo credit card as balance transfers between two cards of one issuer are not allowed. You will need to apply for a credit card from a different issuer.
Unfortunately, you won't be able to transfer the balance of one U.S Bank credit card to another U.S Bank credit card as balance transfers between two cards of one issuer are not allowed. You will need to apply for a credit card from a different issuer.

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