Slash Credit Card Costs

Best Ways to Slash Credit Card Costs

Issuers are flooding mailboxes with some of the best credit card offers ever. To play this buyer's market...

*Find out what you are really paying. If you took out a credit card with a low introductory rate during the past year or so, the rate you are paying now is most likely much higher.

"Teaser rates" usually go up after six months to a year, and the jump can be dramatic-from 6.9% to 18.9%, for example. Your current rate must be listed on your credit card statement.

Check to make sure the interest rate is not in the high double digits. If it is, switch to a card with a lower rate-or request a lower rate from that same issuer. You probably won't get the introductory rate again, but you should get one that's competitive.

Pay more to save. While credit cards with no annual fees are common these days, don't completely rule out the idea of paying an annual fee if you carry a balance and the fee buys you a really low rate.