Overuse of credit cards can pile up an excessive debt burden.
But credit cards can also be used to reduce debt
payments. This section lists some cards that have a low
introductory rate, or a low permanent Annual Percentage
Rate ("APR"). These cards can be used
to pay off more expensive credit cards, high-rate auto
loans, and so forth. You can even find
cash-back
credit cards on this site that give you $30 to $75 just for
acquiring the card. And some other cards will reward you with
rebates on your purchases of to 5%!
Keep in mind, the interest rates that credit card companies are usually their
best rates, for people with good credit records. The
rate they'll offer you may be 3 to 5 points higher, if your credit record
is less than excellent. The tips and products in this section can really
help you stay ahead of your creditors!
Get Your Credit Report, Free!
AnnualCreditReport.com gives you a completely free credit
report once per year, as mandated by federal law. There are three
credit reporting agencies, so to make sure you constantly keep an eye
on your credit data, I suggest that you order one free credit report
every four months (rotating among the three agencies).
Also, if you are ever rejected for a loan or credit card, you
are entitled to a copy of your credit report, free of charge
(you must ask the company that received your application.)
Most credit reports contain
inaccuracies, some of which could be damaging your credit rating.
Once you find out what's in your credit report, you can make informed decisions to
build a solid credit rating. The better your credit rating, the less
interest rates you'll have to pay on loans and credit cards.
It's also quite possible that you'll find
out about an account or deposit that you've forgotten about, and get that
money back!
For people who are well off and would like a "watchdog" agency to constantly monitor
their credit to assure their interest rates don't go up,
ConsumerInfo.com
offers professional credit monitoring services. You get
a free credit report, and
you'll also receive a free 30-day trial membership in their CreditCheck
Monitoring Service -- a service that continuously provides you with vital
information about your credit. If you decide on a paid membership
(at last check it was $9.95 monthly), you'll be informed
at least every month about changes to your credit record, and
immediately by email if an important change occurs.
If you find
that your credit record is inaccurate, you can dispute your credit record free
of any charge. You can also submit evidence or letters
to be entered into your credit record. Just the fact that you're trying
to repair your credit record is taken as a positive sign by potential
lenders. Your first step should be to visit
Kiplinger.com to read
articles about repairing your credit. After you've done that, you'll
have a better chance of getting a good credit card.
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Low-Rate And Cash-Back Credit Cards 
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Time to complete:
| 5 minutes |
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Money you'll spend:
| $0 even for ConsumerInfo.com if you cancel the $9.95/month service |
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What you'll get:
| Ensure low interest rates, and find lost money by finding and removing errors in your credit record. |
Step-by-step instructions:
- Visit AnnualCreditReport.com or click here:
 .
A
new window will open with this page.
- Continue on to fill out the form and read the agreement. If
it's acceptable to you then click the button labeled Accept.
- Continue following their instructions and you will be able
to view your credit report online.
- To avoid the $9.95 monthly fee, cancel anytime within 30 days after
your visit to their Web site. I recommend that you print this page,
as a reminder. If you cancel after 30 days, you can
still get a partial refund of 1/12 per month left (example: cancel in
90 days, and get a $60 refund.)
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Further Reading:
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Legal Notice, Disclaimer and Terms Of Use
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