If you feel you are likely to carry a balance on your credit card from one month to the next, it is vitally important to get a credit card with a low interest rate. According to the LowCards.com Complete Credit Card Index, which tracks more than 1,000 credit cards, this past week was 15.14%. Look in the terms and conditions for the range of interest rates, because most cards have three rate tiers; the higher your credit score, the lower your APR will be. If your FICO score is in the mid-600s, you will probably get the highest rate. When shopping for a low-interest credit card, consider your credit union and local bank. In addition, these are the most attractive low-interest credit cards:
Consumers can transfer their credit card debt onto another card that is offering an attractive interest rate and sometimes save significant money on interest charges. Many issuers are offering 0% interest rates on balance transfers for a substantial time. The two important considerations for consumers are to make sure they can pay off this transferred balance during that 0% introductory period and that the interest penalties you save are more than the fee you'll pay to transfer the balance from one issuer to another.