I know that there is a lot of advice that floats around out there when considering whether you should change credit cards for a lower rate or applying for a new one. Of course the thing the credit card companies lure you with is a low APR (Annual percentage rate). And it is usually the deciding factor for consumers when deciding on a new card.

The key to your decision cannot be only APR, but also the hidden things that can come up that you are not thinking of when making this decision.

At debt consolidation they have a couple of pointers to keep in mind when you are making these decisions:

• Consider the effect of discounted or introductory rates on APRs, their benefit may not be available from the second year onwards.
• Credit card companies are getting smarter by designing APRs that are low, and compensating the same with membership fees.
• Late payment fees and Universal Default penalties generally do not enter into our calculations when comparing APRs. They might make all the difference in choosing the right credit cards.

The point is that there a number of factors to consider in this decision-making process. Look for hidden fees, rewards, a variety of supplementary benefits, among other things as part of your final decision.