7 Ways to Reduce Your Credit Card Interest Rates

For you who have loans with high interest, certainly felt heavy. The burden of monthly bill payments requires large funds.

Is there a way to lower your credit card interest rate to amount to your bill payment is not high?

Indeed, there are many ways you can do to lower interest rates on your loan. They are:

First: Paying Monthly Bills On Time

This is a very important way you have to do. You should always pay the monthly bills on time.

If you are late to pay, you will get a bad judgment. Your credit score will go down. Of course, this will hurt your credit score. You may not get a reduction in lending rates.

Many ways you can do so you can pay bills on time. If you have savings in the bank, you can ask for bill payment is done automatically by the bank.

You must prioritize this point because it has the effect of 35% on your credit score.

Second: Paying Bills More than the Minimum Charges

You have to pay monthly bills in an amount greater than the minimum bill. It would be better if you immediately pay off all of your credit.

If not possible, you need to pay your bills in three or four times. This will speed up the repayment of your debts. It will be a positive effect on your credit.

Third: Shopping Not Exceed 30% of Your Credit

So that the amount of your bill is not great, you need to limit your monthly spending. Do not exceed

the spending rules. That is, 30% of your credit limit.


This is a difficult act. But, you have to work hard if you want to lower the interest rate of your loan.

Fourth: Record Your Shopping

It is very important for those who have many credit cards. You have to control your spending so your monthly bills are not too big.

If the bill is very large, this would be your financial burden. With the recording, you can control your spending.

For this purpose, you have to limit your spending. You will only be shopping for an items very important. Do not buy products that are not important and is not required in the near future.

 Fifth: Choose the Credit Cards with Low Interest

To avoid aggravating the bill, you should choose a credit card with a low interest rate. Not because of the prize draw. Either at the time or afterwards introductory period.

It is very important. Therefore, this flower is attached to your behavior in the shop.

Credit cards with no annual fees also worth your consideration. Not only for the first year, but also in the following years.

Sixth: Check the Report from the Credit Bureau

You have to read your credit report issued by the credit bureaus. You can know your credit each month trip. What causes your credit score to go down, go up, but little, and so on.

If you do not have sufficient funds, you can find a free way. Knowing your credit report from the credit bureau is also very important.

Why? Because lending to you, including interest, all based on a credit report from the Credit Bureau.

Whether the rate low, medium or high, it depends how your credit score.

Seventh: Asking Demand for Credit Providers

If the tips you've done and your credit score high, you can request a decrease in loan interest. You can call the office of the lender and convey your wishes.

You explain your request. You also need to explain that you now have a high credit score. If the first request is not successful, you can repeat the subsequent request at another time.

Good luck.

How to Avoid the Student Loan Debt

Many students left the credit card debt when they have graduated. It reached 70%. It is very alarming. How to avoid the student loan debt?
 
Debt is one of the factors that undermine the score of your credit. Many people watch their credit scores fall due to unpaid debt balances. They are always late paying monthly bills. In fact, some are late paying a bill of up to several times.

Of course, this condition is very alarming. If the late in paying the monthly bills only happen once with the age of credit card for10 years, it will not have a major influence. However, what if the late payment of monthly bills until a few times?


Their credit scores continue to decline. Their credit score become fair or bad. It can make them get difficulty  when looking for a job after graduation. The opportunity to get a job will be smaller.


They are also difficult to get a new credit card or a new loan such as to buy a house, car, or other.

Paying Bills on Time and Shopping Under Credit Limit

 
Student Loans are loans installment. You have to pay monthly installments regularly until all debts are paid off. Car loans and mortgages also include this type.


The burden of payment for installment loans is more severe than other types of credit. That is why paying the monthly bills on time is always recommended.


Why? This is the only way to ease your financial burden. This is the way to keep you from the possibility of a large debt bondage.


By paying bills on time, your credit score can be fixed quickly. The monthly bill payment history has a large impact on your credit score. Its influence is 35%.


Compared with other factors, paying the monthly bill is the biggest factor affecting your credit scores.
That is why you need to pay great attention to this problem. Many ways you can do to reduce your outstanding balance.


For example, always accelerate the repayment of the outstanding balance. That is, you do not pay the minimum monthly bill. It would be better if you immediately pay off your debt.


You also need to limit the spending. You did not buy anything more than your credit limit. You must spend  maximum 30% of your credit limit.


Indeed, there are several other factors that cause your credit score go up or down. 

However, you need to pay attention seriously to two things above: always pay the monthly bills on time and not spending more than 30% of your credit limit.

If you can do two things well, you will be free from the student loan debt.