Your credit rating is taken into consideration in just about any part of your personal life. From buying a house to getting insurance, your credit rating is important. By maintaining good credit, you can save money by getting lower rates on your home loan to a car loan. A good credit rating can even qualify you for a low interest rate credit card.

When you look at new credit card offers today, the majority of them give you a 0% APR introductory period, which is extended from six months up to fifteen months, depending on the financial institution. If you normally carry a balance on your credit card, in the short term this 0% APR can save you money, that's true. But when the introductory period is over, did you get the lowest interest rate credit card available?

If you're looking at new credit cards, you need to look past the 0% introductory offer. There is a range of interest rates the issuer considers. If you have good credit and qualify for a low interest credit card, you really can save a lot of additional money over the years.

A low interest rate credit card is advantageous for people who normally carry a balance on their credit card account. With a new credit card that has a 0% APR introductory period, you can transfer the balance from your higher interest rate cards and pay down your debt interest free. Then when the special 0% offer expires, you will still have a low interest rate credit card.

It has probably taken you a few years to accumulate that good credit rating by budgeting and keeping within you financial means. But occasionally life throws us a curve ball and we can fall behind with our bills. If this happens, the financial institution reserves the right to raise that interest rate.

Keep in mind though, that the financial institutions are run by people just like you and me. Once things straighten out and you are again in good standing with the issuer, if you give them a call, they will often times reinstate that lower interest rate. They do value your business.