Financial Information
Which is easier to get- a high-interest credit card or a low-interest credit card?
Question : Which is easier to get- a high-interest credit card or a low-interest credit card?
Is it easier to get approved quickly for a credit card that has a high interest rate or low-interest rate? Do credit card companies like to give away high interest rate credit cards to just about any sucker because they like to take their money? I seriously want to know!
low interest credit cards
Best answer:
Answer by DAS
It’s not the way you think, of course they are in the business of making money, but the real reason for high or low interest credit cards or rates is credit worthiness. If you have good to excellent credit you should automatically have low interest credit cards, if your credit is not so good, you will probably have high interest credit cards.
That is why it is so important to start working on improving your credit, so that you can increase your FICO scores which determines your high or low interest rates etc. There are a lot of factors involved in improving and keeping good credit. I suggest you start reading books, articles, and even taking classes about credit. This way you will have a better working knowledge of how credit is .
VERY Important !!!!!!!!!!!!!!!!!!!!!!!!!!
It depends. The easiest card to get approved for is a secured card. The only drawback to that is you use your own money to place a deposit upfront, which you can get back a little later on. The interest rates aren’t too shabby at all, compared to some of the unsecured ones out there. But again, because of the “credit crunch”, companies are treating everybody the same, regardless of whether you have good credit or not. I may work for one of them, I don’t agree with a lot of what they do. I guess that’s why I’m on here trying to educate people on the proper way to use your credit cards, so you won’t become an unsuspecting victim.