Do really low APR credit cards exist?
Short answer: Yes! However, you won’t get them automatically if you don’t ask about lower rates. The credit card companies can give you whatever rate they want above prime rate which means that they can assign you a really low rate of just 7% if the prime rate is below that percentage. However, many people will not qualify for that rate if their credit history is marred with frequent late payments or if you have defaulted on loans and credit bills in the past few years. You will need to have an excellent credit history for several years before being eligible for such low rates. Also, young individuals tend to be more risky as a group and therefore have a harder time getting great rates. The best that you can do is build yourself a great credit rating and periodically (perhaps yearly) request that your interest rate be lowered. Eventually, you’ll get the APR the proud few do get. However, if you are finding that your current credit card company is not helping you to lower your APR, it m
