If you’re applying for credit card offers with bad credit you’re probably going to be assigned a much higher annual percentage rate (APR) than the norm. Also, if you have bad credit it may be in part because you don’t understand how credit card companies operate. Here are some interesting tidbits:

• Even though card companies say that the APR is fixed, it never actually is. The companies can increase the rates drastically without much notice. In fact, they’re only legally obligated to tell you 15 days in advance, and you don’t have to resign a contract to be responsible for it.
• By missing one payment, or making a payment even one day late, you can be subjected to a huge APR increase.
• With a 16 percent APR, a balance of $5,000 and a minimum monthly payment of 2 percent, it will take you 314 months to pay off your balance and you’ll have paid a total interest of $8,350. This is why it’s important to make more than the minimum payment if you’re serious about getting out of debt and saving money.

Credit card offers with bad credit are out there for you to take advantage of. The question you have to ask yourself is this: do you really want to?