Introduction
Knowing how much your credit card charges in interest is always an important thing to know for consumers as this will determine how much money you are going to have to pay back in the long run for charges that you have made against your credit line. If you have a high interest rate, you will pay almost double for the charges that you make on your credit card, if you have a low interest rate, you will pay only a fraction more than the cost of the original item or charges you made on your account. Although it may seem daunting, finding your credit cards interest rate isn't really a hard thing to do at all. There are a few options that you have when it comes to how to find out what your credit cards interest rate is.
Step 1
The first, and perhaps one of the easiest ways of finding out your credit cards interest rate, is to simply open your monthly statement and find out. Most cards these days will have it written right on the front of your statement. Look over the front page of your statement carefully and see if you can find it that way. It will usually be listed right below your current charges or above the box that shows how much your monthly payment is and when it is due. If it isn't listed on the front part of it, turn it over and see if you can find it on the back of the statement. This is only one way of how to find out your credit cards interest rate.
Step 2
Another easy way of how to find out your credit cards interest rate that you are getting charged by your credit card is to call the toll free number on the back of your card and ask to speak to a representative. They will be able to go through your records and find out how much your interest rate is and will immediately be able to tell you.
Step 3
Sometimes finding out how much your credit card interest rate is, is as easy as looking at all of the documents that came with your credit card that you should have gotten before you activated it for the first time. Looking through that information you should find your account number, the account terms and conditions and also how much your interest rate is. It is always important to keep this information handy in case you should ever have to go back and refer to it after you have had your card for a while.
Step 4
A good way to find out your credit cards interest rate is also by going online. You can log into your account online at the credit cards website, enter your personal information and it will tell you there what your credit card interest rate is.
Step 5
You can also call the toll free number on the back of your card if you don't want to talk with a representative and when prompted press the number correlating with the question that you may have. The automated system may be able to tell you how much your credit card interest rate is.
Conclusion
Keep in mind that the interest rate on your card can change if you have gotten money out of an ATM for a cash advance. Look back at your user agreement as this is what will be able to tell you if your interest rate changes after you have took money out for a cash advance. Also, your interest rate will likely go up if you are ever late on a payment. Sometimes a credit card company will start you out with a lower rate and then raise it up if you are even one day late on a payment so that it something worth looking into.
Know if your credit cards interest rate is locked in or if it is good only for a certain amount of time. Most of the time, companies will provide an introductory rate for new customers and then change the interest rate at a later date, this is usually after you have had your card for at least a year.
