As far as percentages go 9.9% is very favorable, as the lower the percentage, the less money you will pay the bank when carrying a debt on your credit card. The very best thing that you can do is to make sure that you PAY THE BALANCE OFF every month and that way you won't have pay that 9.9% to the bank in interest charges on your debt to them.
What does APR mean for credit cards?
When you have a credit card, you only have to pay interest if you don’t pay your full statement balance for each billing cycle. That means you can have a credit card without paying any interest as long as you always pay your bill in full! However, if you go at least one billing cycle without paying the full balance, you’ll begin to be charged interest immediately. And of course, even when you’re always paying your full amount, you might still be charged fees – so check your credit agreement.
I've listed a few things to check for when you are evaluating credit card offers, in my personal order of preference:
1) Are there any unavoidable fees that you will incur simply to have the card? This is commonly called an annual fee and this is charged to your card whether you actually used the card at all in the calendar year. I call that an unavoidable fee. [and I HATE them. I refuse to pay a company to allow me to have a line of credit when they earn a fee from the merchant at the time of purchase and I will have to pay them interest on using.]
2) What is the grace period before interest begins to accumulate? My particular 9.9% fixed APR card (through a non-USAA banking institution) has no grace period. The day I put a balance on that card; interest begins to accumulate.
3) is the APR fixed or can it vary?
4a) Are there any rewards programs that would sweeten the deal? I rarely use airline travel, so a cashback program is more important to me than a reward of airline miles.
4b) How narrow is the reward program? Some cash back programs are only active if you purchase at selected stores or specific purchase categories (such as gas stations, groceries, etc.) or are only based on a small percentage of your purchases at those qualifying locations (such as only 1% of all purchases at XXY stores)
5) If you are likely to need balance transfering or convenience checks to draw from your credit card, make sure to review the APR for those activities. They are typically charged at a much higher % than simple purchases, and often also incur a transfer/convenience fee (typically a % of the balance your are attempting to transfer).
Personally, I've only seen one better % offer at 7.9% fixed, but unfortunately, I didn't qualify.