oDo not be misled by low APRs. Take note of the reminders that usually should come in with those states APRs. For example, a credit card may state if the APR is fixed or is a variable. If the APR is fixed, that means you could expect the sign up APR to remain for sometime. If the credit card issuer should raise that rate, you would be notified in advance.
Variable APRs are sometimes making up for lower rates. Why?That is because these rates are changing from time to time, and are usually dependent and tied to other interest rates, like the market overnight borrowing rates or the Treasury bill rates. Thus, when the market interest rate is dropping, the APR for variable credit cards are also dropping. At least, you will get to directly benefit from good interest rates in the market.
oCheck the corresponding APRs for cash advance and installment purchases. These transactions are usually carrying different APR. Remember that the APR initially stated in the contract is the APR for usual transactions---light item purchases that ought to be paid within a month after the purchase. For heavy purchases that are intended to be paid in installment for months, a different APR automatically applies.
Overall, the APR is the factor that you must initially check prior to opening a credit card account. It is only normal that APRs for cash advances and installment purchases are higher than the normal purchase APR. Select the credit card that you think offers the reasonable APR for you so you would not argue with yourself when you start paying for your credit card bills.