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:Assume you carry a balance of $10,000: OLD CREDIT CARD:$10,000 x 13.99% = $ 1399.00 in interest each year NEW CREDIT CARD:$10,000 x 9.99% = $ 999.00 in interest each year * In this example you could save $400 in interest charges per year!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 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. Take advantage of 0% APR's... Once you locate a credit card with a low APR and the least amount of fees, consider introductory promotions. In particular, 0% intro APR deals are especially popular. You can pay zero interest on new purchases and / or balance transfers for 6 to 12 months. Your savings will increase substantially if you can take advantage of one of these offers. Know your credit score: Since most business credit cards require good to excellent credit, make sure you know your credit score before you apply. Although some consumer credit cards are designed for people with poor / no credit, you'll need an established credit history to get a credit card for your business. Search multiple sites: There are numerous credit card comparison resources available to assist you. Although I prefer ASAPCreditCard.com, there are many other great choices such as CreditCards.com, CardRatings.com and WOWCreditCards.com. Payoff your balance each month: Avoid interest charges altogether and payoff new charges before the grace period ends. This way, you won't have to worry about your interest rate or any huge interest charges. Exploit special offers: Take advantage of offers with 0% APR's or other promotional gimmicks such as "Free Tickets" or "Bonus Points". Many credit card issuers will offer incentives so you sign up or use their credit card.