low interest credit cards canada

Low Interest Credit Cards Canada - Low interest credit card research August 1, 2011 - Canada

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RE: Low interest credit card research August 1, 2011

Postby AlysaLee » Thu Aug 11, 2011 12:17:58 AM

Credit card interest is the principal way in which card issuers generate revenue. A card issuer is a bank or credit union that gives a consumer a card or account number that can be used with various payees to make payments and borrow money from the bank simultaneously.
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RE: Low interest credit card research August 1, 2011

Postby montyloree » Mon Aug 01, 2011 05:17:38 PM

good point ottawa_chap,
if people are maxed out on their credit cards, it is probably going to lower their credit score... which then will make it harder to get the lower interest rates...

having said that, it's something that these people need to strive for...

alot of times people will get a new credit card and do balance transfers with low introductory interest rates... if you can save money for 6-9 months, why not?
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RE: Low interest credit card research August 1, 2011

Postby Ottawa_Chap » Mon Aug 01, 2011 04:55:42 PM

Re: If people have credit card debt, and can't pay it all off at once, then low interest credit cards help lower the amount of cash out... it saves people money...

Just my viewpoint here, but I'd doubt the banks would be interested in offering lower interest cards to people who are maxed out on CC debt already. After all, it's in their best interest to keep the dollars flowing in. That said, one might need to be a creative negotiator to obtain a serious rate reduction on their higher rate cards.

O.C.
Infuriating one C/A at a time..
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RE: Low interest credit card research August 1, 2011

Postby montyloree » Mon Aug 01, 2011 04:39:16 PM

If people have credit card debt, and can't pay it all off at once, then low interest credit cards help lower the amount of cash out... it saves people money...

I recommend low interest credit cards for those who carry a balance only.. if you have the cash to pay , then pay off your balance each month...
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RE: Low interest credit card research August 1, 2011

Postby average_joe » Mon Aug 01, 2011 01:43:08 PM

The best low interest card is cash lol.
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Low interest credit card research August 1, 2011

Postby montyloree » Mon Aug 01, 2011 09:11:09 AM

These are some sites that I found while researching news etc regarding low interest credit cards.

RESEARCHING
Low Interest Credit Cards

Where search was done: news.google.com

http://www.google.ca/search?tbm=nws&hl=en&gl=ca&as_q=low+interest+credit+cards&as_epq=&as_oq=&as_eq=&as_scoring=r&btnG=Search&as_drrb=q&as_qdr=a&as_mindate=01%2F07%2F11&as_maxdate=31%2F07%2F11&as_nsrc=&as_nloc=canada&as_author=&as_occt=any&tbs=

Today we are research the news regarding low interest credit cards...
I just found this news item located at:
http://www.montrealgazette.com/news/todays-paper/Bank+credit+cards+charge+outrageous+interest/5087006/story.html

In this article the person is paying 19.99% interest and wants to lower their interest rate.

I also visited: http://howestreet.com/2011/07/developing-world-developing-bubbles/

this doesn't relate to Canada however, it talks about credit cards in China, Brazil, Europe and the U.S.

This globe and mail article talks about how much credit card debt Canadians have.
http://www.theglobeandmail.com/globe-investor/personal-finance/financial-facelift/a-strict-cash-diet-for-dream-retirement/article2106868/

This article talks about a couple who has $300,000 in debt and needs to lower their credit card interest... thus they would need low interest credit cards.

I found a good discussion about low interest credit cards here on redflagdeals.com:
http://forums.redflagdeals.com/low-interest-credit-card-offers-599570/

The question asked what this:
I'm aware of the mbna thread, however since I already have this card I'm interested in any other cards out there that have good rates for balance transfers on new cards, do you have a website link perhaps or have you received something in the mail that's worth mentioning?
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