Are you receiving an outpour of credit card offers through the mail or email stating that you’ve been pre-approved for a line of credit? Well if so, you’re certainly not alone! With all of the different features, benefits, and rewards that credit card companies offer, it’s hard to determine which one will be your best option.

Credit Card Interest Rates

Many credit card companies boast lower rates than their competitors, however if an offer sounds too good to be true, it usually always is! While it may be tempting to go for the first juicy credit card offer that comes your way, remember not to be too impulsive. Find out about different credit card companies’ annual percentage rates. You should always read the fine print so to speak, and watch out for hidden fees that are never overly emphasized by credit card companies.

The most popular type of credit card rate out there is the “0% interest rate” offer. Who wouldn’t want a zero percent interest rate credit right? However, you have to make sure that’s what you’re really getting. While some zero percent credit card rates are completely legitimate, make sure you find out whether it’s only an introductory rate, which a lot of zero percent credit card rates tend to be.

You also need to understand what type of credit card rate you’re going to get. Credit card companies generally offer either fixed or variable interest rates:

Fixed rate – If you choose a credit card that has a fixed interest rate, you are charged with the same rate throughout the whole year. Variable rate – If you opt for a credit card that imposes a variable interest rate, your interest rate charges vary and are contingent upon external financial measures.

Lock in a Lower Credit Card Rate

Because the lower introductory rates that most credit card companies offer tend to significantly increase all of a sudden, it’s important for you do your research in order to truly lock down the best credit card rate. You can go to your local library or get online and start the research process.

Credit card companies that offer higher interest rates tend to compensate by luring you in with special offers and discounts on countless services such as car rental deals and much more. Lower credit card interest rates are most often offered by mid-sized banks. Once you have located a lower rate bank, make sure you fully understand the credit card rates that are being offered before going forward.

Shop Around

While it’s not exactly wise to apply for the first few appealing credit card offers that come through the mail, you shouldn’t disregard them either. Take some time to call the credit card companies you receive offers from and go over rates, terms, and other important information that applies to the credit card. You don’t stand to loose anything by doing this and it only takes a few minutes of your time to verify the information presented in your offer letters. It’s also important to take the time to shop around. Find out about several different credit card companies and what they have to offer, this way you will have many more options at your disposal. Remember that lower credit card rates are out there and locking in a lower rate could also prevent you from getting into credit card debt down the road. You just have to do some research and know what you’re looking for.