To attract you into applying for their card, many offers boast of a 0% introductory APR. This 0% APR normally lasts for the first six to twelve billing cycles. After that period, the regular interest rate comes into effect. Is that regular interest rate after the introductory period expires really a low interest rate when compared to other offers?

The really low interest rate credit card offers are normally aimed towards people with higher credit scores. So when looking at the fine print of any offer, the issuer gives you an estimated rate of say between 10.99% to 17.99%. Where you would fit in depends on your credit history.

If you pay your balance in full each month, you wouldn't really be concerned with the interest rate. But many of us do carry a balance forward or we use our cards for larger purchases that we don't have the funds readily available for. For us, the lower interest rate is important.

According to the most recent studies, most consumers carry a balance of $8,000 or more on their credit card. Over a year's time, a 7% difference in interest charged on $8,000 can be a substantial amount. If you fall into this category, you really do want to look for the low interest rate credit card.

Many of the category of credit card offers have a lot of bells and whistles that are included, such as rewards that can be earned. Generally, these issues include a higher interest rate. So if you do continually carry a large balance on your account, you really shouldn't be concerned with the perks and be more in-tune to the interest rate charged.

After your search for a new credit card and you find that low interest rate credit card, be sure you abide by the terms and conditions as stated in the fine print. Just one late payment and that low interest rate is gone and you're then stuck with as high as a 30% interest rate for up to twelve months.