Bad Credit Credit Cards 0 APR – Low Rates Not Attainable in February?
Posted on | February 2, 2010 | No Comments
If you have the desire to get low interest rates on a credit card in February then you may be putting yourself in a bad position. Many people will apply for bad credit credit cards with 0% APR but they will not qualify. After the credit crisis, credit card companies are greatly changing the way that they qualify applicants.
In late February the credit CARD act will become law which will definitely change the way bad credit borrowers qualify for credit cards. It may be the case that you can qualify for a credit card but you are not going to be able to borrow this money for cheap. Years ago most borrowers had the opportunity to get a credit card with very low interest-rates. This is not going to happen in the near future.
There is an opportunity to get a low introductory rate APR but please understand that this introductory period will not last forever. If you are holding a high balance on your bad credit credit card when this introductory rate ends you are going to see a significant jump in your balance as the interest will greatly cost you.
The best thing you can do to get a much more attractive interest rate on a credit card is to make sure that you work to improve your credit score. By improving your credit score you will be able to negotiate a much lower interest rate on any money that you borrow. This will make your financial life much easier in the future.
Author: Heather Best
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