By Jakob Jelling
www.cashbazar.com

One of the most important things to consider when acquiring credit cards is credit card rates. The APR (annual percentage rate) tells you the annual interest rate you will be paying. It will let you know what you have to pay on your balance and on any cash advance you take out.

Some cards may have different credit card rates on the balance, cash advance and balance transfers. Make sure that you compare all three rates when doing a credit card comparison so that you can get a fuller picture. This way you can make the best decision on which credit card to apply for.

Credit card rates can be variable or fixed. Fixed rate credit means your rate will mostly stay the same for a time period since you get the card. Adjustable rates means the company can change the rate depending on the market interest rate.

Also some credit cards may offer a delayed APR, meaning that there is a grace period associated with the card, during which you are not charge any interest. So if you are not able to pay off your bill on time, you will not be charged any interest for that period of time.

Also look at whether the credit card rate is an introductory APR or a long term APR. Certain cards may offer an introductory APR to get people to use their card. This introductory APR can sometimes be as low as 0%. However, after the six month or a year introductory period has expired, the credit card rates will increase.

You should also take into account other factors than the credit card rates when acquiring a credit card. For example is there any annual fee associated with the card? Maximum credit card limit and transfer fees are other aspects to take into account before signing up for a credit card.

Credit card rates will depend on the type of card you apply for. Some cards have many rewards and offers for using them. These will not usually have low rates. They might use high credit card rates or an annual fee to cover the cost of the benefits. However if you travel frequently, a reward miles card can be cost efficient for you.

If you pay off your bills on time, you will not be concerned greatly with credit card rates. But if you consistently carry over a balance each month, low credit card rates can make a huge difference. Also if you are looking to transfer your balance from your old credit card, a low interest credit card can significantly reduce the amount you will have to pay back.

When it comes to credit card rates you have a wide choice, as it is a competitive industry. You can search for credit card rates online to make sure you are getting the best deal. Credit card comparison sites can help you compare credit card rates and other benefits they offer.

About the author Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.