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You might not be able to start paying off the higher interest charges for months or years, during which they will accrue a healthy sum of interest for the credit card company. Consider this kind of promotion only if you need to roll a large balance onto a card with a lower interest rate, not if you are looking for a credit card to use on a regular basis. When you have a selection of credit card applications with attractively low rates, consider their default rate. The default rate is the interest rate you will pay if you make a payment late, run over your credit limit, default on your credit card, or make a number of other credit mistakes. It can be ridiculously easy to trigger the default rate, so even if you are a punctual bill payer, give careful thought to the cards' default rate.