Credit card interest rates vary from one card to the other and from one company to the other - that is the reason why it is so important to shop around for the best rates before committing yourself to any card.

There are so many different credit card interest rates because every credit company offers different incentives, terms and conditions making each charge card unique. A Visa card offered by Chase will certainly be significantly different from one being offered by Citibank despite bearing the same brand of credit company. The reason for these differences is simple - each credit company understands their customers and designs products to target their wants and needs.

With the number of companies now vying for customer business and loyalty the credit companies have had to adapt their products to satisfy their customers. Different interest rates that advantage different types of customers are among the incentives for which people look when shopping around for a card. Those who carry balances every month generally want low interest bearing credit cards and do not mind paying an annual fee for the privilege. However, those who pay their balance off every month do not see any reason to pay annual fees for the occasional privilege of incurring lower interest on an outstanding balance.

Although rewards and incentives also play a big role in how people choose which card best suits their needs, the type of interest being charged by the card is probably among the most important features that people look for. After all, no one wants to pay more than they have to for the privilege of using credit.

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