Credit Card Rates: 7 Ways to Beat Credit Card Companies at Their Own Game Credit Card Rates: 7 Ways to Beat Credit Card Companies at Their Own Game
Finding lower credit card rates along with avoiding interest charges and fees are among the ways you can beat credit card companies at their... Credit Card Rates: 7 Ways to Beat Credit Card Companies at Their Own Game

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Credit card companies make it their business to try to maximize the charges you pay them. You can beat them at this game by taking steps to minimize those charges.

Based on current credit card balances outstanding and average credit card rates, it is estimated that credit card companies are earning over $100 billion a year in interest, not to mention additional fees. If you want to avoid contributing to those winnings, LendingTree recommends seven tactics for beating credit card companies at this game:

  1. Pay your bill in full every month to avoid interest charges.
  2. Pick rewards programs only if you pay your bill in full every month, because they typically carry higher credit card rates.
  3. Consider your credit rating when comparing credit card rates, because advertised rates may only apply to customers with excellent credit histories.
  4. Watch out for balance transfer fees, because these might negate he benefit of 0 percent balance transfer offers.
  5. Consider fees to be another form of interest, so you have to figure out whether the interest differential between for-fee and no-fee cards will outweigh the amount of those fees.
  6. Recognize that having two tiers of credit card rates can be tricky. This can diminish the value of low-interest balance transfer offers, since the credit card company may have you pay down the low-interest balance first.
  7. Compare credit card rates – regulary. Once you have found a good rate, don’t get complacent – both your rate and marketplace offers could change at any time.

Following these steps comes down to discipline. Do you have the discipline to beat credit card companies at their game? Find out more.


Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

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Gerard Anthony

Gerard Anthony

Gerard Anthony is a finance and economics writer with over 20 years experience in the investment advisory business. As a writer, he provides economic market insight and how current events may affect the average consumer. Gerard has a CFA designation.