The almost instant availability of credit cards has made the shopping experience of almost everybody as easy as 1-2-3! With the convenience of owning a credit card, most people have indulged in almost spontaneous shopping sprees even for items they don’t really need because they have the credit card.

The easy availability of credit cards convinces people into getting credit cards simply to be able to go on a shopping spree. They do not even take the time to read the fine print of their credit card application or agreement, not knowing whether the particular card they availed of has a low annual percentage interest rate or APR. Surprisingly, most credit card holders do not even know why they should be concerned about interest rates nor even understand how this could influence their credit billing.

A low APR credit card means exactly what it says it has low interest rate based on the card holder’s purchases during for a particular billing period. Although credit card interest rates vary from as low as 6% to as much as 30%, the lowest APR card therefore is the one with an interest rate equal to or lower than 6%.

One thing consumers should be aware of however is that the calculation of the APR can be very tricky and is almost like rocket science! One enticement strategy of credit card companies is to offer their clients very low APR credit cards to get them hooked on their products since prospective clients are not aware that should they decide to do so, credit card issuers can actually bring down their APRs to 0%!

Most often, low APR credit cards are available only during the card’s launching or introductory period in order to entice new credit card applicant’s holders to sign up with them. However, once they are in, then most credit card issuers increase the APR after less than six months. Credit card applicants should be aware of the ins and outs of what makes a low APR credit card and the options available in order to retain low APR regardless if the introductory offer is past.

Consumers in the UK and USA have to be aware that APR can either be fixed or variable. A fixed APR provides for unchanging interest rates compared to variable rates. Variable rates usually start very low but are dependent on the prime lending rates set by the Fed which means they can change anytime!

However, there are still companies who offer low APR credit cards despite the fact that this is the area where the credit card issuers normally earn their income. This means that if they continually maintain low APRs, sooner or later they may have to close down as they are giving away the source of their income. On the part of consumers, they should be aware of how to calculate their credit card APRs and not abuse the privilege of owning a credit card by going on a shopping spree!