Consumers often have the first credit card that they ever applied for, never really analizing how the interest rate affects their payments, but many other options exist and can help consumers decrease their payments and achieve financial stability.

With interest rates on some credit cards rising to over 23%, even low balance credit card debt can be crippling. One of the first research elements a prospective borrower should look at is the interest rate on transferred debt. This interest rate is often lower than the usual interest rate for the credit card, and can be an especially good deal for borrowers who have debt already. Another element to consider is the interest rate on new purchases