Low interest credit cards can create substantial savings if you carry a monthly credit card balance. It doesn't take much - reducing your APR by just 1% or 2% could save you hundreds, or even thousands of dollars on interest charges each year - depending on the size of your balance. Here's a simple example of how much you could save:
Switching to a low interest credit card is beneficial for two reasons; first off, you'll save immediately on new purchases and transferred balances. Depending on how much lower your interest rate is and the amount of debt you carry, the savings could be substantial and they'll add up over time. Secondly, because you're paying less money on shop interest, you'll be able to increase the amount you pay on the principle, thereby paying off the card quicker. Of course, this will require financial discipline, but the savings are well worth the effort.
Compare credit card offers...
To find the lowest rate possible, compare credit card offers from a wide variety of credit card issuers. The best way to do this is to compare credit cards online. You can visit each issuer individually, or you can use one of the many credit card comparison sites available to assist you.
Avoid fees and other charges...
Although you're looking for the lowest interest rate possible, avoid credit cards with annual fees and extra charges. Paying fees could negate any benefit you've gained by having a low interest rate. Watch out for balance transfer, cash advance, over-the-limit, late payment and foreign transaction fees. Knowing how you'll use your credit card will help you determine which fees are factors-- and which one's are not.