When it comes to judging the quality of a credit card, there are three different considerations that should cross your mind.  First, you want a card that will provide a sufficient credit limit to meet your needs.  Second, you want to find a card that doesn’t beat you up with excessive fees.  Finally, you need to find the card that offers the lowest possible interest rate.

Let’s look at that third issue for a moment.  Low rates are important and you need to find them.

Why?  It’s simple.  It costs much less to pay off the balance of a card that is accruing interest at a lower rate than it does to pay off a high-interest card.  The lower the interest rate, the less it costs you to borrow money on the card.

Amazingly, people often overlook this critical factor when choosing and using credit cards.  It doesn’t make a great deal of sense, but it happens.  Think about it this way:  Credit cards are really nothing more than a very convenient bank loans.  While no one would even consider asking their bank for a $2,000 loan at 20% interest, people are more than happy to make that agreement with weaker credit cards.

Instead, they should be acting as smart consumers by trying to find ways to secure accounts that offer lower interest rates.  Here are a few suggestions for getting the best credit card rates.

First, maintain a quality credit rating.  The best credit card rates are generally reserved for those who have a proven history of handling their debt obligations in a timely manner and who are not already carrying too high of a debt load.  If you want the best possible rate deals, you need to be the best possible kind of customer.

Second, shop for rates.  When you’re looking for a new credit card, be cognizant of the interest rates.  Make the issue a key component of your selection.  Look for special low introductory rates and other bargains including low interest rates on balance transfers from other cards.  Although you’ll want to take the time to read the fine print (you want to be certain that you’ll qualify for those rates and their limitations), this can be a great way of decreasing your interest exposure.  Currently, that fine print often includes pro-lender language that allows them to adjust fees and rates without your consent.  New legislation, however, should put an end to that codicil, allowing you to put greater faith in the stated interest rate.

Third, talk to your credit card issuer about lowering the rates on your existing account.  If you’re a good customer, the lending bank will want to keep you.  Credit card companies are aware of the fact that they’re operating in a competitive environment and may be willing to decrease your interest rate if you have a solid history with them.  You won’t find yourself going from 25% to the best credit card rates in the country, but you may be able to negotiate a meaningful reduction in your interest levels.

When searching for the best rate deal, keep one other thing in mind.  Some companies offer lower rate cards by making up the difference with a slew of inappropriate account and activation fees.  What may seem like a great deal due to a low interest rate may actually be a poor bargain after the effect of those fees is carefully evaluated.

If you want to have the best credit card experience possible, you need to find the best credit card rates.  It’s an absolutely critical part of the overall equation.  That process may require some investigation and research, but it’s definitely worth the effort.  Doing your homework now may save you thousands of dollars in the long run.