Credit card interest rates can be a major concern, especially when you're in the market for a new credit card but want to make sure that the card you choose isn't going to break your budget. In order to find the best credit card interest rates for your needs, you should take a little time to shop around for different cards and compare the rates that each offers; this way you'll know that the card that you apply for is the one that will cost you the least.

Follow the suggestions below to get you started toward finding a number of different cards that meet the criteria that you're looking for so that you can compare the credit card interest rates that each offers.

Understanding APR

The first thing that you need to understand when you want to compare credit card interest rates is that you're going to be looking for the annual percentage rate, or APR. For credit cards, the APR is an indication of how much you're going to be charged in interest each year. The lower the APR is on the card that you apply for, then the lower your interest is going to be on each month's bill.

If you have good credit, your APR might be 9% or lower; if you've had credit problems in the past, however, you might find offers as high as 15% or even 20%. Be careful when choosing a card with a high APR, because you'll find that the interest on your balance can become quite costly very quickly.

Finding Card Offers

If you're going to compare annual percentage rates, then you'll need to find a number of different credit card issuers so that you'll have cards to compare. Credit card applications generally aren't hard to come by, and can be found at most banks as well as a number of retail outlets. Collect applications that might seem promising, and then spend a little time online looking up credit card applications on the internet. Find the terms and conditions section of each application, and then you're ready to start looking at the credit card interest rates and finding the best deal.

Comparing Cards

As you consider the credit card interest rates you've collected, it's important that you remember that other factors should effect your choice as well. Be on the lookout for annual fees and other costs, as they'll simply cost you more money for the same service that you could find elsewhere. You should also look at any incentive programs that different cards offer, and see whether or not you'll be able to transfer balances from other cards to your new card. By taking the time to ask these questions now, you're much more likely to find a credit card that will serve you well for years to come.

Paul Rogers writes general finance and loan articles for the Loans UK Online website at http://www.loansukonline.co.uk