Low interest credit cards may offer a limited time low introductory rate APR, or a low fixed rate APR. Both can be very useful, especially for consumers making a large purchase that can be paid off before the introductory rate ends. Cards with a fixed low interest rate rather than an introductory rate can also be helpful if you carry a balance from month to month. Here are five tips to help you choose the best low interest rate credit card for you:


1. Consider your credit needs and habits. Are you preparing for a large one-time purchase, or getting a card for everyday use? If you choose a card with an introductory rate, will you pay off the balance before the rate goes up?


2. Consider which card features are important to you. What are you looking for in addition to a low interest rate? Consider factors like rewards programs, extra services, and any fees that might apply to you and the way you use your credit card.


3. Compare several cards to find the best one. Each credit card may have a different combination of terms and features, so look at several to find one that includes everything you want. Looking at only one or two is easier, but in the long run you can save money and increase satisfaction by choosing from a large selection.


4. Read the fine print. Make sure that you know which transactions the low APR applies to. Some cards have a different APR for balance transfers, purchases and cash advances, so it's important to pay attention to what you will be charged depending on how you will use the card. If the card has an introductory offer, make sure you know when it ends and what the APR changes to after that point.


5. Check several sources of information. The Federal Reserve publishes a survey of credit card terms every six months, and there are a wide range of websites where you can compare credit card offers and apply online.




To find and apply for a low interest credit card, Beth Derkowitz recommends Find Credit Cards.