Avoid the life crippling scourge of credit card debt by exercising cautionary shopping and finding the best credit card rates. Credit cards are nice but too many people fall into the trap of thinking it’s a source of free money. But you know it’s not, right? You know that money is expensive enough without paying exorbitant interest rates on credit card repayments.

Think about it, you’d be lucky to get a bank savings account that paid you more than 5 or 6% per annum yet credit card companies will charge you upwards of 20% for you to use their money. It’s all a bit out of whack. Luckily there are ways of combating this interest rate disparity, all it takes is some knowledge and some clarity.

Take the time to compare credit card rates. There are numerous credit card comparison websites out there, all with their own articles and tools, like credit card rate calculators and such. Comparing interest rates should be the first thing you do before you apply for a credit card.

Applying for credit cards without knowing the full cost will end up hurting your wallet in the long run, so be sure to educate yourself on the risks of credit card ownership and take the time to compare credit card rates.