Low interest credit cards are the holy grail of finance that we are all looking for. Unfortunately, they are often difficult to find because credit card companies are in the business of making money. However, if you have a decent credit score and you shop around there is no reason why you shouldn’t be able to find a fair credit card that fits your lifestyle. Typically, low interest rate credit cards start at about 10% and move up to about 25%, which are no longer considered low credit cards. Anything under 15% interest is good to shoot for but there are other factors to consider besides interest.

You’ll want to consider what you are using the card for if shopping for a low interest card. This type of credit card  is ideal for making a large purchase that you plan to pay off in a year or so. This will mean that you pay the lowest interest rate possible on your purchase. In the case of a major purchase, a credit card with a low APR is a smart choice. Of course, you may not even want to use a credit card at all if you can get a better interest rate from the store. For instance, if your credit card has an APR of 6.2%, but the store you are planning to purchase from has an interest rate of 9.6% and 180 days same as cash, you may want to go with the store, since you may be able to pay most – if not all of the balance before the interest even kicks in.

Many people use their card for emergencies. While it’s always a good idea to shop for the lowest rate possible, in this case you may want to consider other factors. Many times, you can get a higher limit with a higher interest rate. If you are planning to use the card for true emergencies, and will, in all probability, not have to use it at all, then the limit or the terms of repayment may be more of a factor than the A.P.R. Of course, if you can find both the best low interest cards, and terms or credit limits that fit what you are using the card for, then you have the best of both worlds.

If you are using the card to build your credit and you plan to pay off purchases every month without accruing any interest whatsoever, then finding the best interest rate may be a secondary goal. If you are absolutely sure that you are going to be able to pay it every month (for example setting a limit upon yourself of purchasing no more than $20 per month) then the APR may not be as important as say, how the card reports to the credit bureaus. For instance, reporting to all three bureaus may be far more important.

These type of credit cards are widely available, but normally only to people that have an established credit history that is positive. If your credit score is low, or if you have a very limited history of using and paying on credit, then you may not have very many options when it comes to getting a card with low interest. Generally, those who have a shaky credit report, or a limited credit history will be offered higher interest rate credit cards.