When you are serious about credit card debt elimination, you will want to take advantage of shopping for low interest rate cards. Use them to move debt from higher interest rate cards – and don’t use the high interest rate cards ever again!
It is convenient to compare credit card interest rates online. Usually, you enter some personal information and you can get a quote in moments. However, be careful not to get carried away. Comparing rates online is relatively new, so credit bureaus may still count quote estimates as inquiries. Inquiries are recorded and too many of them will impact your negatively on your credit history.
Again, shopping for the lowest rates is a good strategy. So, you just need to be clever with how you go about getting quotes. For example, you should be able to do so research on a lender to find out what type of rates you can expect for them. If they have a reputation for not being very competitive, then pass them by in favor of another lender. This will keep the number of inquiries at a minimum, while allowing you to shop for the best possible rates.
Closing Accounts As You Reduce Credit Card Debt Can Be a Mistake