The content is accurate at the time of publication and is subject to change.

One has to plan well, especially when one has a low income but high expenses. It would prove costly to make mistakes in regards to credit cards. If the expenses are on the higher side, one needs to take a closer look and strategize carefully. With a little bit of planning, one can turn a difficult situation into a manageable one. It is at such times that a credit card with a low APR comes in handy. A credit card with a low annual percentage rate is one of the most vital aspects one must consider when applying for a credit card. Individuals should shop around and explore all the possibilities on the Internet. After examining all the pros and cons, and after checking all the various credit cards and their features, one must make a comparison and then decide which credit card is best suited for them. There have been many instances where people end up paying unnecessarily because they did not bother to read the fine print or did not bother to clarify when some things were unclear. This could lead to a lot of issues in the future.

One must first find out if the APR is fixed or variable. It is always wise to opt for a fixed APR, as a variable APR may change any time. This means, even when people are prompt with their payments, things can change.

When the outstanding balance is high, the greatest concern in regards to payments is high interest rates, which translates into shelling out more money in order to meet payment requirements. Ideally, balances should not be carried forward. It is better to pay off balances every month. There are many credit cards with low APR, and this is a good start.

If one has a good track record and a good credit rating, then one has the possibility of negotiating with the bank on the APR that is being charged. One should have an open discussion with the bank and let them know what they are looking for. One has to be clear whether they would be able to handle payments (with their low income) while working on the credit scores with low APR cards.

It is always better to read the fine print before choosing the credit card, as there may be a lot of hidden fees that one might not be aware of.