There are some solutions that can be used to lower the rate of interest on a credit card. 'Interest' or the cost of credit that is incurred, as a result of borrowing, can be calculated before the credit card is taken. It can also be managed after the credit card has been issued. 'Interest' rate on a credit card, basically includes all the credit card processing costs, APRs (Annual percentage rate), late fees, membership fees, and service charges. In theory, the best way to get a lower interest rate is to have a good credit report. If one has a good credit report, it acts as an advantage, and credit card companies issue cards with lower interest rates. However, apart from a good credit report, a low-interest credit card is given to a select class of working people, such as military servicemen or people with disabilities. Different companies offer special concessions to frequent fliers, or those who have low-interest business credit cards. There are also several other ways to reduce credit card debt that you might incur. For example, checking the facilities of differential APRs. When a credit card holder spends on items of necessity such as food and clothing, the APR that is charged is small and negligible. You can also avail bankruptcy credit cards or student credit cards, as the APR and fees of such cards is less and the credit limit is more. Thus, the interest rate on a credit card also depends on the purpose. When you have a good credit report, you also have the advantage of negotiating the interest rates with the company. Another option is to have a secured credit card. The plus point is that, this card has a better credit limit and lesser APRs on some purchases. In order to hunt for ways to cut credit card debt, you will have to review the credit card agreement. This agreement has different clauses, such as introductory APR, which is by default 0% for first 6 months in most cases. Then you will have an APR that is applicable for purchases; this amount is usually variable. Credit card companies state the upper and lower limits of the APR, for example, 9.22% to 16.50%. Apart from the APR, a discount is assured that can go as high as 10% to 15%, if you purchase from specified brand stores. Moreover, you will have an APR for balance transfers, one APR for cash advances, and another one for overdraft facilities. The key is to read the agreement and all possible details about the card on the company's website. One should also look for the due dates to pay off the said bill. Delay in planning of your repayment of the bill, results in additional charges calculated as per specified rate of interest. A sincere and regular repayment can get a good credit history, as well as many further offers and plans. The big plus point is that purchasing a well-planned out credit card plan can be very cheap. Apart from that, using the same wisely is also profitable.