Strategies for How To Make Money with Interest Rates

by Kathleen Goody on January 29, 2012

The economy is anything but good. Politicians may refuse to give it a name but there is a recession of sorts going on. Now is the time to figure out how to make money with low interest rates.

Do not accept anything at face value. It is the hidden things you need to worry about. Low introductory offers are being sent out in bulk mail. Read the fine print my friends. A 0% rate for 12 months may seem nice at the onset but you must know where will it go at the end of one year.

Issuing banks will often offer interest that is fixed but use other forms to regain their losses. Charging an annual fee is a popular one. Another is charging an astronomical amount for a transaction fee. Run, do not walk, away from these offers.

Always look for cards that do not use these schemes. You have to do some looking but they are out there. Be sure the rate they offer is fixed for the duration of the transfer. Find out if the offer extends to anything you may purchase.

Many of us have fallen into the trap of owing too many people. Some have low rates and others have high ones. After averaging it all out, you still are paying too much. Consolidate those loans into one single payment that you can easily manage at a fee that doesn’t bring tears to your eyes.

You can sometimes be pleasantly surprised with cards that offer cash back. It is only a few cents on the dollar at most, but take advantage of their offers and it can quickly add up. This month it may be gas and next month it may be groceries. Just be sure that you aren’t foolish enough to charge $400.00 to get $12.00 back

If you have been thinking about getting your mortgage refinanced, now is the time. If you have a good credit rating banks are waiting for your business. Rates are at an all time low and there is a lot of cash to be saved.

The better your score the better the better the chances are you will get a low offer. A Tier one rating will get you the lowest interest. Even with a score less than perfect, banks are hurting for income as well. If you pay regularly, many bank will be willing to work to lower your payments.

Don’t be afraid to shop around and let bankers know that is what you are doing. Inform them that you will go with the best offer you get. This will make them sit up and take notice. Their numbers are not cut in stone and they are allowed to play a bit with their offers. Learn how to make money with low interest rates, and accept nothing less than the best.

One of the top ways to get a low interest loan is through the use of these balance transfer offers, which gives you money at a cool 0% interest rate.

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