When shopping for a credit card, one of the things you have to take note of is the card’s APR or annual percentage rate. You probably must have heard of this term before. Usually, when credit card companies offer low APR’s, they advertise it rampantly because they know that the lower the APR is, the more enticing the card becomes to the buyer. So what really is APR, and what are the consequences if your card either has a low or high APR?

The APR isn’t just a number, it actually means the amount you will have to pay in interest charges per year if you fail to pay within the month of purchase. Divide it by 12 and you will get the amount of interest that will be charged to you per month. And if you don’t know it yet, interest charges isn’t as simple as that. For every month that you fail to pay off your credit card loan, interest will also be added to your already existing interest. This is the reason why so many people find themselves in credit card debt. Because they fail to see that their one swipe could land them in a much bigger debt than they had imagined.

So now that you know these things, the lower the APR, the better it is for you. And the best APR’s will always be the ones that are at 0%. Credit card companies do offer a 0% APR, but only as an introductory period. The real deal lies at what comes after that.

Here are the Best APR Credit Cards in 2011 you can choose from to keep yourself away from high interest charges:

Best APR Credit Cards in 2011

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Interest rates can be heavy if you are not able to pay off the full amount you owe monthly. Aside from the rate displayed, this amount will compound either monthly or daily, getting you deeper into debt. Take advantage of low APR rates given by credit card companies, and check if they also give an introductory rate of 0%. These rates can help you avoid the interest charges that could possibly be the difference between financial doom and financial wellness.

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