Having a low APR credit card is a good thing to have if you carry a balance, and it’s something you don’t want to lose. To make sure your balance stays low, there are a few things you can do. Pay your credit card bill on time. This will ensure you avoid a penalty APR. It’s usually much higher than your normal purchase APR. The CARD Act of 2009 makes it difficult for penalty rates to be charged, though they can still occur if you miss at least two payments. The law allows a penalty rate to be charged if you’ve missed payments for 60 days or more. Avoid variable rates. Staying away from variable-rate cards can also help you keep your APR low. Interest rates are low for now, but a card with a variable rate will go up whenever the prime rate moves up. A card with a fixed rate can make it easier to budget. Negotiate your rate. You can call your credit card company and ask for a lower APR. It will help to have been a customer for years, and one who pays their bill on time, but it’s worth asking. Let them know of competing credit card offers from other banks with much lower APRs. Mention how you’d like to stay loyal to them and ask for a lower APR. If they say no or do not offer a low enough rate, ask to speak to a supervisor or someone in the retention department. Transfer your balance. Sometimes the best way to save on interest fees is to skip the middleman and simply transfer your balance to a new card that charges a lower interest rate. Be sure to read the fine print so you know what interest rate to expect once the introductory period ends. If it’s higher than your current rate, it may not be a great deal unless you make major progress on your balance during the 0% introductory period. Additionally, be aware of any applicable balance transfer fees. Most credit cards will charge a fee — typically 3% to 5% of the total transferred amount — to transfer a balance to the card. While this fee can be well worth it for a good 0% APR offer, crunch the numbers to see if it’s worth paying for lesser APR decreases.