Who Wants a Better Interest Rate on Their Credit Cards? You Do! Here's How!

Can you imagine a world without credit cards? Now we hear words like credit score, bad credit, and credit cards every day, but if you are over 50 you remember a world without those things and we got by - somehow.

Credit cards are much more convenient than carrying wads of cash (not that I ever did) and it's hard to imagine life without them. The credit card industry has evolved over the last 30 years, part of a long-term plan by the industry, and it is very appealing.

Since this is the world we live in you need to know how to get the most out of it by getting the best interest rates on those credit cards you have. Here how:

· In the world of plastic (credit cards) you must have a good credit rating. Life is hard enough without adding unnecessary headaches.

· Pay all your credit card bills on time and it's best if you keep your credit card debt at 20 to 30% of your limit.

· Be careful not to acquire too many credit cards. You should have no more than 2 or 3. This will keep your debt manageable. Most of the time when people get into credit trouble it's because they have too many credit cards.

· If you follow step #2 you will begin to establish yourself as someone who can be trusted, something we all would like to be. Which means when you apply for larger debts, like a home or car, the lenders will give you a better interest rate.

· Using your credit cards wisely will boost your credit score and also enable you to qualify for low interest credit cards as well.

· Protect your major purchases - Under the Fair Credit Billing Act of 1999 if you buy something that is damaged or defective with your credit card, you have the right to stop payment until it is made right. You need to make a good-faith effort to work things out. If you can't solve the problem you can ask your credit card company to investigate and solve the problem.

· Note - if you used a debit card this law does not address that. That's why it is best to use a credit card.

· Using a credit card for online shopping is safer

· The Fair Credit Billing Act also covers online purchases. Many people are still wary about shopping online with a credit card. You don't need to be. The credit card industry has made a great effort to make online shopping safer and the sites that take credit cards use an encrypted method to make certain your numbers are safe. Of course we all know in this life nothing is certain except death and taxes, so theoretically it is not safe, but it is 99.9% safe - and that's pretty safe.