With good credit, you have a better chance of
obtaining low interest rates on credit cards, securing better car insurance rates and getting approved for various loans.
If however you're successful in
obtaining a lower interest rate on your credit card thank the customer service representative for their time, verify the new interest rate and double check that the new interest rate is applied when you receive your next monthly statement.
Not exact matches
Even those with a mortgage due
on their home already can use the equity
on their property to
obtain a home equity loan with a
low rate of
interest and use the money to pay and cancel more expensive debt such as
credit card balances, pay day loans, etc..
In addition, you'll likely qualify for
credit cards with a 0 percent
interest introductory annual percentage
rate, save thousands
on a mortgage by
obtaining a
low interest rate, and enjoy periodic
credit limit increases
on your accounts.
As such, improper use of
credit cards can result in
lower credit ratings, which can eventually translate into either inability to
obtain additional
credit or higher
interest rates charged
on loans.