If you've been thinking of applying for a low interest credit card, you have to realize that not everyone is easily approved. These offers are best for individuals with good to excellent credit. These credit cards do have introductory offers such as 0% balance transfer rates and also 0% purchase rates, however all have a long term low interest rate.

There are other factors that are important when considering this type of credit card, most notably being if there is an annual fee applicable. The annual fee will increase your cost of borrowing, the rate with which this increases will depend on your actual credit card balance. This should be taken into account before applying for this type of credit card.

However, other factors, including 0% balance transfers and 0% purchases, have a positive effect on your credit card APR and if used properly can help cut your borrowing rate, but only for the introductory period!