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When you have a low income or your expenses are rather on the higher side, you should always plan things carefully. It is very easy to make expensive mistakes when it comes to credit cards and the more carefully you plan things, the better it will be to get things done right. A low APR or annual percentage rate can really make a lot of difference when it comes to your card and one of the most important aspects you should consider when opting for a credit card. Consumers should make it a point to shop around and compare this when considering a new card application. There have been enough and more cases where people missed out on details and ended up paying through their noses to sort things out.

Especially when you have a limited budget, it is quite easy to lose sight of how things should be done. Also consider whether the APR is a fixed one or variable. It is wiser and smarter to opt for a fixed APR over a variable one. Many people do not realize until later that their credit card agreement says variable which means things can change at any point, even if they have not been delinquent on their payments. With so many options to choose from for any kind of card, consumers find it extremely difficult to make a choice on their cards.

When you have a high outstanding balance, the biggest concern regarding the payments is that the interest rate means you have to continually shell out more money to meet with the payments and the amount seems to remain high no matter how much you pay. This is why you should not carry forward balances every month. Close it off sooner than later so that you do not have to worry about things later on. There are lots of low APR cards in the market, if you look hard enough.

If you had a good credit score and a clean credit report, you can very well negotiate with banks on the APR that is being offered to you. Make sure to discuss with them how things stand and what you are looking for. You should be able to asses clearly whether you can handle the payments and you should also be able to work on your credit score well with a low interest rate. Check for any other additional fees that may apply as well.