What credit card and or banks offer loans with the best interest rate? i have really good credit.?
by Author on Saturday, August 14th, 2010 | 5 Comments
I only want to borrow about 5,000. I don't know if i'd be better going with a credit card or bank.
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If you go to http://www.creditcards.com , you can go through a list of options, many of which are 6-12 months at 0% BASED ON THE FACT that you have really good credit.
Also, you can get a decent interest rate on prosper.com, which takes a bit of time to turn around, but real live individuals bid on making a loan to you, and b/c people are bidding and competing you’ll definitely come out better than you would at a bank, with the added bonus of it functioning like a loan in that you have cash in the bank rather than a credit card.
Good luck!
I like Bank of America’s rewards credit card. We pay around 8% for the rate… I think.
You could try a Home Equity Line of Credit with your local bank. Many of those rates are pushed down to 6% or less and the interest should be tax deductible.
If you have really good credit, the best way to finance the $5,000 is to use a credit card that offers 0% introductory rate for up to 12 months. This is much better than a bank loan because you won’t be paying any interest charges for 12 months! The Blue from American Express credit card is now offering 0% for 15 months. You will only have to pay a minimum payment every month to avoid any interest charges. You’ll have the option to pay the remaining balance in full or over time after 15 months.
I would say the best way is to get a credit card which has a balance transfer option. Balance transfer is where you can transfer any other debt whether it be another credit car or loan to your new credit card and pay nothing for the term of the balance transfer, this can be sometimes be 1 year.
Yes, you can use credit cards.
http://credcards.maclenet.com – try this one. It has 0% interest for 12 months if you have good credit score.