Low Intro APR
No Annual Fee
Cash Back
Reward Cards
VISA
Mastercard
Business Credit C.
Balance transfer
Student Credit Cards
Frequent Flyer
Gold Cards
platinum Cards

Advanta
American Express
Bank of America
Bank One
Chase Manhattan
Discover

Bankruptcy
Slow Credit
Average Credit
Excellent Credit

There are many rewards to reducing credit card debt. To begin with, eliminating needless debts will save you money, lessen stress, and boost your credit rating. Obviously, achieving a life free of debt is easier said than done. Nonetheless, there are practical tips that can help consumers eliminate debts and raise their credit score.

Stop Using Credit Cards

Before you can reduce and alleviate debts, you must stop using credit cards. Understandably, emergencies arise that justify using credit. For example, a large car repair, home improvement, etc. On the other hand, if the bulk of your credit card expenses revolve around shopping sprees, vacations, or entertainment, a radical lifestyle change is needed.

To avoid using credit unnecessarily, remove all credit cards from your wallet. Do not cancel credit cards. By doing so, you will decrease your credit score and rating. Instead, exercise self-control and make all purchases using cash.

Take Advantage of Options Available to Homeowners

Owning a home puts you at a huge advantage. Many homeowners have become debt free by obtaining a home equity loan or refinancing. As your home increases in value, you build equity. Equity is the difference in what you owe the mortgage company and your home’s market value. By obtaining a home equity loan or refinance, homeowners have access to their home’s equity. The funds may be used to consolidate debts. Paying off high interest credit will decrease monthly debt payments and save you thousands.

Using Debt Management Agencies

Before filing bankruptcy, individuals with excessive debts should contact a debt management agency. These agencies are extremely useful and have helped millions of people become debt free in as little as five years. Representatives will evaluate your current debt and credit situation, and determine the best plan of action.

To lower monthly payments, the agency will consolidate debts and contact your existing creditors to negotiate a lower rate, waived fees, etc. A low interest rate makes it possible to pay back creditors faster.

While working with a debt management agency, you will no longer forward payments to each individual creditor. Rather, the debt management agency will collect payments and allocate the funds to pay off credit card balances.

View our recommended companies forCredit Card Debt Help or view all of our Recommended Debt Consolidation Companies Online.

Article Source: http://EzineArticles.com/?expert=Carrie_Reeder

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Yes, low APR credit cards are on the rise. Many credit cards are competing for your business to give you the best and lowest rates available today. There are so many credit cards from you to choose from that they are doing all kinds of things to get your attention including lowering their interest rate and giving you no annual fees.

Why is this happening? Because there are so many credit card companies. They all want your business and this is an attractive incentive to get you to apply and own one of their credit cards. If you choose a low APR credit card over one with 19.99 percent you are sure to go with the lower APR.

The only problem is that sometime these 0% and low APR credit cards are only promotional ways to get you to apply and then later your interest rate will rise. Many credit card companies have low APR credit cards for a certain amount of time such as 3 months, 6 months and some up to one year. You will have to compare to find out which one keeps the lower APR after the promotional period to ensure you are getting the best deal around.

No matter what the reason low APR credit cards are here to stay as long as the companies are competing for your business. Just remember to compare everything they offer besides the lower interest rate. You may find that several credit card companies are now offering other wonderful incentives for you to apply with them such as reward programs.

No matter which company you choose, you will enjoy the low APR credit cards even if it is only for a limited time. You will be able to save money on your purchases because you will not have to pay any interest until the promotional period is over. Just be sure your balance is very low when the interest rate kicks in and you will be fine.